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Havells India share price: The brokerage firm HDFC Securities has downgraded Havells India to an add rating and revised the target price downward to Rs 1,470. The brokerage suggests that this consumer stock is still a good buy, but perhaps with lower conviction or expected returns than a Buy.
According to the brokerage, the company’s weak growth at 2 per cent Year-over-Year (YoY), primarily dragged down by a decline in the Lloyd segment (Havells’ consumer durables/AC brand).
The brokerage further stated that the demand for summer-specific products (like ACs and fans) only began to recover later in April.
Earnings estimates have been lowered amid continued performance weakness and persistent cost pressures.
A difficult environment with high costs and low demand is ongoing. The overall environment remains challenging regarding both demand and costs.
According to HDFC Securities, the company’s recommended valuation is 45 times the estimated Earnings Per Share (EPS) for March 2028.
This is why the brokerage firm, HDFC Securities, downgraded consumer stock to add and cut the target price downward.
The brokerage firm, Goldman Sachs, has maintained a buy rating on the consumer stock with a target price of Rs 1,640 (revised downward from Rs 1,720). Here’s why the brokerage has maintained a buy rating.
Havells India’s Q4 revenue was reported as weak across most business segments, with the notable exception of the solar segment.
Despite facing pressure on gross margins, overall margins were supported by inventory gains.
The brokerage firm, Goldman Sachs, anticipates a demand recovery in the cooling products category (such as air conditioners and fans) in the near term.
The downward revision in the target price reflects a slightly more cautious outlook on growth, even while maintaining a positive “Buy” rating.
The earnings outlook is mixed, as cost pressures and demand uncertainty continue to weigh on forecasts.
Havells India Ltd reported its Q4 FY26 results with revenue rising 2.5 per cent YoY to Rs 6,705 crore, while profit surged 39.9 per cent YoY to Rs 723 crore; however, EBITDA declined 3.7 per cent to Rs 730 crore, leading to a contraction in EBITDA margin to 10.9 per cent from 11.6 per cent a year ago.
Havells India dividend 2026
The Board of Directors, Havells India, recommended a final dividend of Rs 6 for the financial year 2025-26.
“The Board of Directors recommended a Final Dividend @ Rs. 6/- per equity share of Re. 1/- each, i.e. 600 % for the financial year 2025-26. This is in addition to the Interim Dividend declared during the FY 2025-26 for an amount of Rs. 4/- per share.,” Havells said in an exchange filing.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
