Shares of Havells India are likely to catch attention on Friday, January 17, after the company shared its Q3 earnings for FY25. The net profit showed a small drop of 1.7% compared to last year, reaching Rs 283 crore, down from Rs 288 crore in Q3FY24. On a positive note, the company’s net revenue grew by 11%, reaching Rs 4,883 crore, up from Rs 4,401 crore during the same period last year.
Breaking it down by segments:
– Switchgears grew by 10.8% to Rs 577 crore.
– Cables increased by 7.3%.
– Lighting & Fixtures saw a growth of 2.5%.
– Electrical Consumer Durables surged by 15%.
– Other segments rose by a substantial 22.8%.
Additionally, Havells announced an interim dividend of Rs 4 per share for its shareholders, with the record date set for January 22.
Here’s what some brokerages are saying after the company’s update:
UBS: Buy | Target Price: Rs 2,145 | Upside Potential: 37.7%
UBS keeps a “Buy” rating on Havells, setting a target price of Rs 2,145. They noted that weak consumer demand might impact earnings.
JPMorgan: Neutral | Target Price: Rs 1,750 | Upside Potential: 12.4%
JPMorgan maintained a “Neutral” rating due to earnings below expectations caused by margin pressures. They observed muted growth in the Cables & Wires segment due to soft copper prices.
Nuvama: Buy | Target Price: Rs 1,940 | Upside Potential: 24.5%
Nuvama holds a “Buy” rating with a target price of Rs 1,940. They mention that Havells showed good revenue growth, but higher employee and operational costs affected profits.
Stay tuned, as more companies like Wipro and Jio Financial are also announcing their Q3 results today!
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