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Time of India

JM Financial maintains Buy on Havells India, target price unchanged at Rs 1,900

JM Financial has maintained a buy call on Havells India with an unchanged target price of Rs 1,900. The current market price of Havells India is Rs 1595. The time period given by the analyst is a year when Havells India price can reach the defined target. Havells India, incorporated in 1983, is a Large Cap company with a market cap of Rs 100599.07 crore, operating in the Consumer Durables sector. Havells India's key products/revenue segments include Cables, Traded Goods, Electrical Consumer Durables, Domestic Switchgears, Light Fittings & Fixture, Others, Export Incentives for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 6612.28 crore, up 33.49% from last quarter Total Income of Rs 4953.31 crore and up 19.84% from last year same quarter Total Income of Rs 5517.77 crore. The company has reported net profit after tax of Rs 517.00 crore in the latest quarter. The company's top management includes Rai Gupta, Ashwin Dani, Kumar Sinha, Mehra, Mr.B Prasada Rao, Kaul, Bharat Ram, Mr.T V Mohandas Pai, Bhatia, Kumar Gupta, Pandit, Kumar Gupta, Kumar Gupta, S Mundra. Company has Price Waterhouse & Co Chartered Accountants LLP as its auditors. As on 31-03-2025, the company has a total of 63 Crore shares outstanding. Live Events Investment Rationale JM Financial values Havells India at P/E of 50x on FY27 EPS based on its strong brand, distribution, in-house manufacturing, fresh investments in team + brand + distribution, opening up of export opportunity, market share gain, strong balance sheet and improved ratios. Lloyd is expected to drive growth with the company focussing on brand building, ramping up distribution and strong R&D efforts and the brokerage expects a strong performance in the Wires and Cables segment led by robust demand momentum and opportunity opening up in exports. Promoter/FII Holdings Promoters held 59.41 per cent stake in the company as of 31-Mar-2025, while FIIs owned 22.31 per cent, DIIs 12.48 per cent.