FMEG Giant Declares 43% Jump In Net Profit, Shares Fall 2.83% In 1-Week; Buy?

Large cap company operating in Fast Moving Electrical Goods segment, Havells India Ltd on Thursday announced a jump of 43% YoY in its net profit to Rs 411 crore for the quarter ended June 30, 2024 as against Rs 287.38 crore declared in the corresponding quarter of last year. However, Havells India shares witnessed decline of 2.83% in last 1-week and slipped 0.54% in trade today. Current market price of Havells India shares on BSE is Rs 1864.40 per share. Havells India Ltd has a market capitalisation of Rs 1,17,011.31 crore. Havells India shares gained 39.75% in last 1-year and soared 160% in last 5-years. More details below:

Havells India Quarterly Results: Havells India announced a jump of 20% YoY in its consolidated revenue from operations to Rs 5,798 crore as compared to Rs 4824 crore reported an year ago. EBITDA of Havells India for the quarter under review announced at Rs 576 crore, down 7.8%. Domestic growth in Switchgears declared at 12% YoY, but certain export orders shifted to the next quarter, as per the company's BSE filing.

Havells India Dividend: The Board of Directors decided to recommend a Final Dividend @ Rs. 6/- per equity share of Re. 1/- each i.e. 600 % for the financial year 2023-24. This is in addition to the Interim Dividend declared during the FY 2023-24 for an amount of Rs. 3/- per share. Havells India shares traded ex-dividend on May 31, 2024.

Havells India Share Performance: The 52-week high price of Havells India share on BSE is Rs 1986.55 per share (as on 03/06/2024) and 52-week low price is Rs 1233.10 per share (as on 01/11/2023), respectively. Havells India share gained 24% in last 3-months, soared 37% year-to-date, offered return of 40% in last 1-year, and zoomed 48% in last 2-years.

JM Financial Recommends Buy For Havells India Share: JM Financial has recommended buy call for Havells India share with target price of Rs 1930 per share.

About Havells India: Havells India Limited is a leading Fast Moving Electrical Goods (FMEG) Company and a major power distribution equipment manufacturer with a strong global presence. Havells enjoys enviable market dominance across a wide spectrum of products, including Industrial & Domestic Circuit Protection Devices, Cables & Wires, Motors, Fans, Modular Switches, Home Appliances, Air Conditioners, Electric Water Heaters, Power Capacitors, Luminaires for Domestic, Commercial and Industrial Applications.

Disclaimer:

The stock has been picked from the brokerage report of JM Financial. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.