BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Havells India Ltd. reported healthy revenue growth of 31.7% YoY. However, the gross margin was down 605 basis points YoY due to-
revenue mix deterioration,
steep commodity inflation and
lag effect of price hikes.
The company benefitted from revival in economy and higher infrastructure spending. Profitability of Lloyd segment remained under stress even in Q2 FY22 due to higher input prices and negative operating leverage.
We model Havells India to report profit after tax compound annual growth rate of 22.5% over FY21-FY24E with:
strong volume growth,
high single digit price hike and
benefits of cost saving initiatives and recovery in Lloyd.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR