Havells India stock gains post-Q4 result, dividend announcement; brokerages raise target prices

Havells India share price, Havells India share price target, Havells India Q4 FY24 results: Havells India shares hogged the spotlight on Thursday, May 3 after the Noida-headquartered fast-moving electrical goods (FMEG) company released its better-than-estimated Q4 earnings report on April 30. The Havells India stock gained 2.6 per cent in morning trade on the NSE to the day's high of Rs 1,706.85. The counter closed at Rs 1,667 up by 0.18 per cent on NSE.

Havells India Q4 FY24 results

Havells India posted a consolidated net profit of Rs 446.7 crore for the January-March period, a jump of of 24.8 per cent compared with the corresponding quarter a year ago. Havells India registered Q4 revenue of Rs 5,442 crore, up 12 per cent on a year-on-year basis, according to a regulatory filing.

According to Zee Business research, the company's March-quarter net profit was estimated at Rs 372 crore and revenue at Rs 5,387 crore. Read more Havells India Q4 FY24 results

Havells India share price target: Buy, Sell or Hold?

UBS has maintained a buy call on Havells India, which manufactures a string of consumer and industrial products such as fans, lights, appliances, cables, motors and solar solutions. The brokerage has raised the target to Rs 2,040 from Rs 1,800. The brokerage believes the stock's underperformance for the past 12 months vs peers should reverse led by favourable real estate demand and upcoming capacities. 
 
HSBC too, retained a buy call on the counter with an increased target of Rs 1,800 from Rs 1,600. HSBC noted that Q4 FY24 profit beat consensus expectations due to a sharp improvement in Lloyd's profitability while the management commentary on the growth outlook was upbeat. The analysts at the brokerage think Havells is now firmly on a strong profit growth path. 
 
Nomura continued with a neutral call. The breakage has raised the target to Rs 1,603 from Rs 1,427. 

"Strong summer season, favourable base likely to drive growth," Nomura said in its note. "Target market share gain over the medium term with an eye on profitability, Nomura added in its note. 
 
Meanwhile, CLSA has downgraded the Havells India stock to sell from underperform with a raised target of Rs 1,560 from Rs 1,325 earlier. 

"Q4 ahead of estimates on better margins, while the top line was lower. Lloyd reported a sharp improvement in margins while growth was soft (+6% YoY), indicating market share loss," the brokerage stated in its note. 

Havells India Q4 result review: Q4 performance extraordinary strong says Anil Singhvi

Zee Business Managing Editor Anil Singhvi pointed out that the FMEG firm's Q4 performance is extraordinarily strong with Lloyd’s profit being a big surprise. The market wizard suggested buying Havells futures with a stop loss at Rs 1,659 for targets of Rs 1,708, Rs 1,725, Rs 1,755 and Rs 1,800.

Havells India dividend

The Havells India board recommended a final dividend of Rs 6 per share for the financial year ended March 31, in addition to an interim dividend of Rs 3 per share declared previously. Read more on Havells India dividend

Havells India share price history

Havells India shares finished the March quarter 10.8 per cent stronger, outperforming a 2.7 per cent rise in the headline Nifty50 index. 

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