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Havells Aims To Sustain Profitability Amid Market Challenges, Says Motilal Oswal Maintaining 'Neutral' Rating
Havells stock is trading fairly at 54x/44x FY26/27E EPS and, hence, Motilal Oswal reiterates its Neutral rating with a target price of Rs 1,650 (premised on 50x FY27E EPS).
28 Mar 2025, 09:28 AM IST 
Motilal Oswal expects Havells' EPS to grow at a 23% CAGR over FY25-27, supported by margin expansion in Lloyd and other key segment.
(Source: Company website)
Havells continues to invest in manufacturing, brand building, distribution, talent development, premiumization, and R&D, positioning itself for long-term success. The summer season has begun on a positive note, which should drive growth for Lloyd, with profitability sustained through operating leverage and cost controls. Demand for cables & wires remains strong, with a stable long-term growth outlook. In the switches and switchgear s...
