Havells India Q4 Review - Covid-19 Wave Stalls Demand Momentum: Prabhudas Lilladher

Havells branding is displayed on a component for E-Lite LED 18 W Pride Plus lights on the production line. (Photographer: Udit Kulshrestha/Bloomberg)

Havells India Q4 Review - Covid-19 Wave Stalls Demand Momentum: Prabhudas Lilladher

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.

We cut FY22/FY23 estimates of Havells India Ltd. by 9.1%/ 4.8% given-

  1. Covid-19 second wave led demand disruption,

  2. Commodity inflation led margin pressure.

The company reported another strong performance aided by:

  1. Sustained momentum in consumer portfolio

  2. Pick up in infra and industrial portfolio from January onwards

  3. Low cost inventory.

The management remained cautious in the near term given second Covid-19 wave led demand disruption and commodity inflation.

Click on the attachment to read the full report:

Prabhudas Lilladher Havells India Q4FY21 Result Update.pdf

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