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Crompton Greaves Consumer Electricals surges on securing landmark solar pumps work order Crompton Greaves Consumer Electricals is currently trading at Rs. 313.40, up by 4.15 points or 1.34% from its previous closing of Rs. 309.25 on the BSE. The scrip opened at Rs. 309.90 and has touched a high and low of Rs. 314.00 and Rs. 308.95 respectively. So far 119336 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 428.80 on 13-Sep-2022 and a 52 week low of Rs. 251.25 on 26-Apr-2023. Last one week high and lo...
Crompton Greaves Consumer Electricals surges on securing landmark solar pumps work order
Crompton Greaves Consumer Electricals surges on securing landmark solar pumps work order
Source: Accord Fintech
7/09/2023 12:57:03 PM
Quote on Consumer Durables from Avinash Pathak, LKP Securities Below The Quote on Consumer Durables from Avinash Pathak, Research Analyst at LKP Securities.  "ECD companies in Q1FY24 saw healthy growth in revenue and profit, driven by B2B segment growth. However, B2C demand remained subdued due to factors such as a general consumption slowdown and relatively weak summer conditions. Despite short-term challenges, the industry remains optimistic about demand recovery, anticipating a strong H2 recovery in rural markets and stability in the...
Quote on Consumer Durables from Avinash Pathak, LKP Securities
Quote on Consumer Durables from Avinash Pathak, LKP Securities
Source: LKP Securities
6/09/2023 12:10:46 PM
Aditya Vision trades higher on the BSE Aditya Vision is currently trading at Rs. 2387.75, up by 57.25 points or 2.46% from its previous closing of Rs. 2330.50 on the BSE. The scrip opened at Rs. 2374.00 and has touched a high and low of Rs. 2389.00 and Rs. 2322.50 respectively. So far 3510 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 2678.00 on 02-Aug-2023 and a 52 week low of Rs. 1140.00 on 22-Nov-2022. Last one week high and low of the scrip st...
Aditya Vision trades higher on the BSE
Aditya Vision trades higher on the BSE
Source: Accord Fintech
29/08/2023 2:41:35 PM
Consumer Durables/Electricals Sector Update : Positive sentiments leads demand revival By Yes Securities Positive sentiments leads demand revival * Green shoots visible on demand front: After a peculiarly sluggish Q1 demand, and largely flood-impacted early July across India, initial signs of a demand revival are gradually becoming evident. Mid-July onwards, the demand has been trending up better than expected. Notably, tier III, IV and V cities have led this reversal and the prospects are brighter for the festive season ahead. Conversely, urban demand has endured some fatigue. Having said th...
Consumer Durables/Electricals Sector Update : Positive sentiments leads demand revival By Yes Securities
Consumer Durables/Electricals Sector Update : Positive sentiments leads demand revival By Yes Securities
Source: Yes Securities
28/08/2023 12:49:31 PM
Add Orient Electric Ltd For Target Rs.245 - ICICI Securities Strong growth across segments with recovery in margins Orient faced multiple extraordinary events such as regulatory changes in fans, steep inflation and distribution restructuring in FY23. It led to 340bps EBITDA margin contraction and 40% PAT decline in FY23 YoY. We believe most of these issues are behind now and the company is likely to report strong performance across segments in FY24-25. We remain enthused by its Q1FY24 performance with strong revenue growth across segments (Fans: 16%...
Add Orient Electric Ltd For Target Rs.245 - ICICI Securities
Add Orient Electric Ltd For Target Rs.245 - ICICI Securities
Source: ICICI Securities
28/08/2023 11:58:23 AM
Buy TTK Prestige Ltd For Target Rs. 938 - Yes Securities Ltd Result Synopsis TTKPT registered marginally better than expected performance with revenue decline of 8.1%. Revenue decline can be attributed to1) lower discretionary spends amid high inflation, 2) Wallet share has been diverted to other avenue of spending resulting in lower spends for kitchen, and 3) Stocking by the dealers have been lower. Gross margins have seen strong sequential as well as yoy expansion as raw material prices have been benign, and company has not compromised on brand premi...
Buy TTK Prestige Ltd For Target Rs. 938 - Yes Securities Ltd
Buy TTK Prestige Ltd For Target Rs. 938 - Yes Securities Ltd
Source: Yes Securities Ltd
25/08/2023 1:52:06 PM
Consumer Durables Sector Update : Mixed bag; hopes pinned on 2HFY24 By JM Financial Mixed bag; hopes pinned on 2HFY24 Electrical Consumer Durable (ECD) companies’ revenue grew by 16% YoY (+13% 4-year CAGR) in 1QFY24, largely on the back of healthy growth in the B2B segment (particularly cables) while demand environment in the B2C segment remained subdued due to soft summer/unseasonal rains and consumption slowdown in general. Although gross margin improved on the back of a benign RM envionrment, that improvement was not reflected in operating margin due to a) high c...
Consumer Durables Sector Update : Mixed bag; hopes pinned on 2HFY24 By JM Financial
Consumer Durables Sector Update : Mixed bag; hopes pinned on 2HFY24 By JM Financial
Source: JM Financial Institutional Securities
23/08/2023 12:15:51 PM
Reduce IFB Industries Ltd For Target Rs.s 788 - Yes Securities Margin improvement long drawn process; maintain Reduce Result Synopsis IFBI delivered inline revenue growth, with Its home Appliances business registered flattish revenue with EBIT margin of 0.8%. Company’s overall gross margin expanded by 250bps yoy on lower commodity costs. Company’s focus on getting higher extraction from channel is starting to show result but it is still lower than the expectation, as company is going on implementing its strategy state by state. We have ...
Reduce IFB Industries Ltd For Target Rs.s 788 - Yes Securities
Reduce IFB Industries Ltd For Target Rs.s 788 - Yes Securities
Source: Yes Securities Ltd
18/08/2023 2:35:06 PM
Buy Crompton Greaves CE Ltd For Target Rs.336- emkay global financial services limited Crompton Greaves Consumer reported another muted quarter, logging only 1% YoY revenue growth owing to the 6% growth in ECD being offset by the decline of 13% in Lighting and of 14% in BGAL. ECD growth was led by premium Fans (22%) and Appliances (19%). Margins, however, dipped due to higher cost of BEE-compliant fans, increased A&P spends for brand-building and loss in builtin kitchen appliances. Cost initiatives led to expansion of margin in Lighting (by ~310bps), despite the decline in ...
Buy Crompton Greaves CE Ltd For Target Rs.336- emkay global financial services limited
Buy Crompton Greaves CE Ltd For Target Rs.336- emkay global financial services limited
Source: Emkay Global Financial Services
18/08/2023 1:04:25 PM
Inflame Appliances shines on starting commercial production at Hyderabad manufacturing facility Inflame Appliances is currently trading at Rs. 669.00, up by 11.70 points or 1.78% from its previous closing of Rs. 657.30 on the BSE. The scrip opened at Rs. 683.00 and has touched a high and low of Rs. 683.00 and Rs. 646.65 respectively. So far 1250 shares were traded on the counter. The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 698.00 on 01-Aug-2023 and a 52 week low of Rs. 363.10 on 20-Mar-2023. Last one week high and low of the scrip stoo...
Inflame Appliances shines on starting commercial production at Hyderabad manufacturing facility
Inflame Appliances shines on starting commercial production at Hyderabad manufacturing facility
Source: Accord Fintech
18/08/2023 10:02:10 AM
Buy Whirlpool of India Ltd For Target Rs.1,680 - ICICI Securities Elica remains strong value driver; Margin tailwinds ahead due to deflation in commodity prices While Whirlpool’s Q1FY24 was muted (as expected), we note three positives (1) Elica has continued to report strong revenue growth (19% YoY) led by strong product portfolio expansion and integration with supply chain of Whirlpool, (2) In our view, Whirlpool’s EBITDA margin has likely bottomed out in H1CY23. With correction in commodity prices, we model gradual recovery in margins ahead...
Buy Whirlpool of India Ltd For Target Rs.1,680 - ICICI Securities
Buy Whirlpool of India Ltd For Target Rs.1,680 - ICICI Securities
Source: ICICI Securities
17/08/2023 11:47:50 AM
Consumer demand is shifting from goods to services suggests contraction in demand for durables The contraction in demand for consumer durables in Q1 FY24 versus the average of FY23 seems to suggest that consumer demand is shifting from goods to services and, therefore, this could be a structural rather than cyclical trend, says Sujan Hajra, Chief Economist and Executive Director, Anand Rathi Shares and Stock Brokers. Despite growth being low, modest momentum in staples seems to suggest recovery in rural demand. The 3.7 per cent IIP growth in Jun’23 was below expectation and...
Consumer demand is shifting from goods to services suggests contraction in demand for durables
Consumer demand is shifting from goods to services suggests contraction in demand for durables
Source: IANS
14/08/2023 3:39:07 PM
Add IFB Industries Ltd For Target Rs. 875 - Centrum Broking Ltd IFBI posted consolidated sales of Rs10.9bn, up 2% YoY and broadly in-line with our estimate. Home Appliances sales was flat YoY at Rs8.6bn amidst subdued demand environment and channel build-up. Softer commodity costs and better product mix led to 250bps YoY/30bps QoQ rise in gross margin to 39.4%. This was, however, offset by higher spends on staff, promotion, franchisee and travel leading to flat YoY EBITDA at Rs348mn. EBITDA margin was at 3.2%, flat YoY and 60bps below our estimate of 3.8%...
Add IFB Industries Ltd For Target Rs. 875 - Centrum Broking Ltd
Add IFB Industries Ltd For Target Rs. 875 - Centrum Broking Ltd
Source: Centrum Broking Ltd
14/08/2023 12:30:52 PM
Buy Godrej Consumer Products Ltd For Target Rs. R1,200 - Motilal Oswal Financial Services * GCPL’s consolidated revenue and operating profit were in line with estimates, whereas adj. PAT missed our estimate by 14.7%, affected by the currency depreciation in Nigeria. Reported PAT declined 7.6% YoY due to a stamp duty payment on the acquisition of the Raymond business. * GP margin expanded by 710bp YoY/80 bp QoQ to 53.7%. Notably, EBITDA margin improved 280bp YoY despite a 59% rise in consolidated ad-spends. * The RCCL business incurred an operating loss due to reducing ...
Buy Godrej Consumer Products Ltd For Target Rs. R1,200 - Motilal Oswal Financial Services
Buy Godrej Consumer Products Ltd For Target Rs. R1,200 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
12/08/2023 12:20:45 PM
Godrej Industries soars on reporting 13% rise in Q1 consolidated net profit Godrej Industries is currently trading at Rs. 501.70, up by 8.20 points or 1.66% from its previous closing of Rs. 493.50 on the BSE. The scrip opened at Rs. 494.00 and has touched a high and low of Rs. 507.95 and Rs. 492.00 respectively. So far 45169 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 523.55 on 03-Jul-2023 and a 52 week low of Rs. 395.20 on 29-Mar-2023. Last one week high and low of the scrip stood ...
Godrej Industries soars on reporting 13% rise in Q1 consolidated net profit
Godrej Industries soars on reporting 13% rise in Q1 consolidated net profit
Source: Accord Fintech
11/08/2023 3:30:00 PM
India`s Bajaj Electricals Q1 profit falls as unseasonal rains, inflation hit demand Bajaj Electricals Ltd on Thursday reported a 13.6% decline in first-quarter profit, dragged by intermittent unseasonal rains and inflationary pressure, sending the consumer durables major's shares down 3.2%. Consolidated net profit was 371.3 million rupees ($4.49 million) for the three months ended June 30, compared with 429.6 million rupees a year earlier. Overall revenue from operations fell about 1.5% to 11.12 billion rupees, dragged by its lighting solutions segment. Revenue ...
India`s Bajaj Electricals Q1 profit falls as unseasonal rains, inflation hit demand
India`s Bajaj Electricals Q1 profit falls as unseasonal rains, inflation hit demand
Source: Reuters
10/08/2023 3:15:35 PM
Godrej Consumer Products rises on inking MoU with State Government of Tamil Nadu Godrej Consumer Products is currently trading at Rs. 1024.70, up by 5.80 points or 0.57% from its previous closing of Rs. 1018.90 on the BSE. The scrip opened at Rs. 1018.90 and has touched a high and low of Rs. 1032.00 and Rs. 1018.90 respectively. So far 15163 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1101.55 on 06-Jul-2023 and a 52 week low of Rs. 793.70 on 10-Nov-2022. Last one week high and low of the...
Godrej Consumer Products rises on inking MoU with State Government of Tamil Nadu
Godrej Consumer Products rises on inking MoU with State Government of Tamil Nadu
Source: Accord Fintech
10/08/2023 3:03:34 PM
Bharat Electronics inches up on targeting Rs 20,300 crore turnover for FY24 Bharat Electronics is currently trading at Rs. 129.30, up by 0.10 points or 0.08% from its previous closing of Rs. 129.20 on the BSE. The scrip opened at Rs. 130.00 and has touched a high and low of Rs. 130.50 and Rs. 129.00 respectively. So far 134866 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 133.25 on 01-Aug-2023 and a 52 week low of Rs. 87.00 on 30-Jan-2023. Last one week high and low of the scrip stood...
Bharat Electronics inches up on targeting Rs 20,300 crore turnover for FY24
Bharat Electronics inches up on targeting Rs 20,300 crore turnover for FY24
Source: Accord Fintech
9/08/2023 9:57:05 AM
Buy Godrej Consumer Products Ltd For Target Rs. 1,191- Religare Broking Revenue growth continues to be strong: Godrej Consumer for the yet another quarter reported strong growth. Its revenue came in at Rs 3,449cr, up by 10.4% YoY and underlying volume growth of 10% YoY while sequentially growth was at 7.8%. Overall it was a volume led growth and all its geographies as well as business segments contributed to the growth. Healthy margins improvement: Gross profit was at Rs 1,853cr, up by 27.3% YoY and 9.5% QoQ and margins improved by 715bps YoY and 84bps QoQ to ...
Buy Godrej Consumer Products Ltd For Target Rs. 1,191- Religare Broking
Buy Godrej Consumer Products Ltd For Target Rs. 1,191- Religare Broking
Source: Religare Broking Ltd
8/08/2023 3:12:14 PM
Whirlpool's India unit posts fall in Q1 profit on soft demand Home appliances maker Whirlpool of India Ltd reported a 10.6% drop in first-quarter profit on Monday, impacted by softer demand. The company, known for its refrigerators, washing machines and air conditioners, said consolidated net profit for the three months ended June 30 fell to 748.8 million rupees ($9.05 million) from 837.3 million rupees a year earlier. Revenue fell 2% to 20.39 billion rupees, hurting the company's operating profit metrics. Intermittent unseasonal rainfall a...
Whirlpool's India unit posts fall in Q1 profit on soft demand
Whirlpool's India unit posts fall in Q1 profit on soft demand
Source: Reuters
7/08/2023 3:34:03 PM
Add Blue star Ltd For Target Rs.780 -Centrum Broking Ltd In-line performance; planning for long growth runway BLSTR’s consolidated sales grew 13% YoY to Rs22.3bn, in-line with our/consensus estimates. Unitary Products revenue was up 6% YoY to Rs12bn as RAC sales decline amidst unseasonal rains in summer, was offset by healthy traction in commercial refrigeration products. EMPS sales grew 19% YoY to Rs9.5bn aided by robust order book. Gross margin rose 120bps YoY to 22.2%. EBITDA grew 18% YoY to Rs1.5bn leading to 30bps YoY rise in operatin...
Add Blue star Ltd For Target Rs.780 -Centrum Broking Ltd
Add Blue star Ltd For Target Rs.780 -Centrum Broking Ltd
Source: Centrum Broking Ltd
7/08/2023 2:23:56 PM
Add Symphony Ltd For Target . Rs 1,029 - Yes Securities Result Synopsis Symphony reported mixed set of performance with Revenue largely coming in line with the expectations, while margin missing the estimates. Domestic business has seen decline on back of erratic weather resulted in demand slowdown. Gross margins have seen expansion on back of price hikes, value engineering and softening of commodity prices, however higher gross margin has not translated into EBITDA as certain costs like rental and travelling costs have seen increased and there...
Add Symphony Ltd For Target . Rs 1,029 - Yes Securities
Add Symphony Ltd For Target . Rs 1,029 - Yes Securities
Source: Yes Securities Ltd
5/08/2023 10:15:28 AM
Add Dabur India Ltd For Target Rs.s 160 - Yes Securities Ltd Result Synopsis Orient Cement's (ORCMNT) result was below expectation on all fronts, volume missed by 8% (+16% y/y) due to Chittapur plant maintenance shutdown, causing revenue 5% below YSECe (+16% y/y). Additionally, +10% higher total cost/te than est. resulted in EBITDA/PAT miss of 33/46% in Q1FY24. The inter-clinker movement & other cost surged due to the maintenance shutdown at Chittapur unit kept total cost elevated thereby dented EBITDA/te to Rs624, declined by 16% y/y (v/s R...
Add Dabur India Ltd For Target Rs.s 160 - Yes Securities Ltd
Add Dabur India Ltd For Target Rs.s 160 - Yes Securities Ltd
Source: Yes Securities Ltd
4/08/2023 12:05:17 PM
Add Dabur India Ltd For Target Rs.660 - Yes Securities Ltd * DABUR’s 1QFY24 result was broadly in line with our estimates in all aspects. It reported volume growth in both rural and urban markets, with an increase in distribution reach and market share. * HPC and HC showed moderation in RM inflation, while the food inflation remained high. It led GP margin expansion of 70bp YoY. With increase in media spending, EBITDA margin remains flat at 19.3%. * Allied with synergies in the healthcare portfolio, it expects to achieve double-digit cons...
Add Dabur India Ltd For Target Rs.660 - Yes Securities Ltd
Add Dabur India Ltd For Target Rs.660 - Yes Securities Ltd
Source: Motilal Oswal Financial Services Ltd
4/08/2023 11:28:31 AM
Bajaj Consumer Care rises on launching new product `Bajaj Almond Drops Nourishing Body Lotion` Bajaj Consumer Care is currently trading at Rs. 226.00, up by 3.40 points or 1.53% from its previous closing of Rs. 222.60 on the BSE. The scrip opened at Rs. 224.30 and has touched a high and low of Rs. 227.05 and Rs. 223.00 respectively. So far 19310 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 227.05 on 04-Aug-2023 and a 52 week low of Rs. 145.65 on 20-Oct-2022. Last one week high and low of the scrip stoo...
Bajaj Consumer Care rises on launching new product `Bajaj Almond Drops Nourishing Body Lotion`
Bajaj Consumer Care rises on launching new product `Bajaj Almond Drops Nourishing Body Lotion`
Source: Accord Fintech
4/08/2023 10:30:48 AM
India`s Blue Star posts rise in Q1 profit on robust sales  Indian air conditioner maker Blue Star on Thursday reported an over-12% rise in first-quarter profit, as a warmer summer led to a rise in sale of air conditioners. Consolidated net profit rose to 833.5 million rupees ($10 million) for the quarter ended June 30, from 742.5 million rupees a year ago. Revenue from operations was up 12.6% at 22.26 billion rupees. For further results highlights, click. KEY CONTEXT India's air-conditioning industry has gained significantly ...
India`s Blue Star posts rise in Q1 profit on robust sales
India`s Blue Star posts rise in Q1 profit on robust sales
Source: Reuters
3/08/2023 2:58:58 PM
Add Symphony Ltd For Target . Rs 1,029 - Yes Securities Symphony reported mixed set of performance with Revenue largely coming in line with the expectations, while margin missing the estimates. Domestic business has seen decline on back of erratic weather resulted in demand slowdown. Gross margins have seen expansion on back of price hikes, value engineering and softening of commodity prices, however higher gross margin has not translated into EBITDA as certain costs like rental and travelling costs have seen increased and there is forex loss of R...
Add Symphony Ltd For Target . Rs 1,029 - Yes Securities
Add Symphony Ltd For Target . Rs 1,029 - Yes Securities
Source: Yes Securities Ltd
1/08/2023 4:40:28 PM
Buy Tata Consumer Products Ltd For Target Rs.985 - Motilal Oswal Financial Services Ltd Operating performance in line with our estimates * Tata Consumer Products (TATACONS) reported revenue growth of ~12.5% YoY, driven by strong growth in India food business (up 24% YoY) and NourishCo (up 60% YoY). Operating performance in 1QFY24 was led by healthy performance from India branded business (EBIT up 20% YoY). * We maintain our FY24/FY25 EPS estimates and retain our BUY rating on the stock with our SoTP-based TP of INR985. India food business drives sales growth * TATACO...
Buy Tata Consumer Products Ltd For Target Rs.985 - Motilal Oswal Financial Services Ltd
Buy Tata Consumer Products Ltd For Target Rs.985 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
1/08/2023 11:27:57 AM
Hold Amber Enterprises Ltd For Target Rs. : 2,300 - Emkay Global Financial Services Ltd Amber’s 1QFY24 numbers missed our topline estimates but was above our PAT estimates due to strong operating performance. Amber’s strategy of focusing on higher-margin components vs. RACs seems to have driven this beat on EBITDAM. Amber is witnessing increased traction in its mobility division, with a large order win expected to further boost the order book, as it looks to double this business in 2-3 years. While unseasonal rains is expected to cap the industry’s volume growt...
Hold Amber Enterprises Ltd For Target Rs. : 2,300 - Emkay Global Financial Services Ltd
Hold Amber Enterprises Ltd For Target Rs. : 2,300 - Emkay Global Financial Services Ltd
Source: Emkay Global Financial Services Ltd
31/07/2023 2:53:49 PM
Colgate-Palmolive`s Indian unit reports Q1 profit rise on demand recovery  Toothpaste maker Colgate-Palmolive (India)'s quarterly profit rose 30.5% on Wednesday, aided by improved domestic demand. Net profit rose to 2.74 billion rupees ($33.40 million) for the quarter ended June 30 compared to 2.10 billion rupees a year earlier. Steady rural demand pick-up and some ease in domestic retail inflation helped Indian consumer goods companies log gains during the quarter. Sales rose nearly 10.8% to 13.15 billion rupees, boosted by the company's main...
Colgate-Palmolive`s Indian unit reports Q1 profit rise on demand recovery
Colgate-Palmolive`s Indian unit reports Q1 profit rise on demand recovery
Source: Reuters
27/07/2023 9:39:45 AM
India`s Tata Consumer posts Q1 profit miss on higher expenses India's Tata Consumer Products reported a smaller-than-expected 24% rise in first-quarter profit on Wednesday, as mounting expenses outpaced higher sales of its eponymous packaged food and beverages. The Kolkata, West Bengal-based company said its consolidated net profit rose to 3.17 billion Indian rupees ($38.66 million) in the quarter ended June 30, marking its eighth consecutive quarterly profit climb. Analysts, on average, had expected a profit of 3.22 billion rupees, according ...
India`s Tata Consumer posts Q1 profit miss on higher expenses
India`s Tata Consumer posts Q1 profit miss on higher expenses
Source: Reuters
26/07/2023 5:28:45 PM
Orient Electric rises on completing sale of land parcels in Telangana Orient Electric is currently trading at Rs. 231.25, up by 0.75 points or 0.33% from its previous closing of Rs. 230.50 on the BSE. The scrip opened at Rs. 230.60 and has touched a high and low of Rs. 235.05 and Rs. 230.60 respectively. So far 277 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 290.60 on 28-Nov-2022 and a 52 week low of Rs. 215.80 on 15-May-2023. Last one week high and low of the scrip stood at R...
Orient Electric rises on completing sale of land parcels in Telangana
Orient Electric rises on completing sale of land parcels in Telangana
Source: Accord Fintech
26/07/2023 10:47:37 AM
Reduce Havells India Ltd For Target Rs.1,130 - Centrum Broking Ltd Havells India’s (HAVL) sales grew 14% YoY to Rs48.2bn, 10% above our estimate. While consumer demand was muted in April and May, it recovered in June. B2C-B2B sales mix stood at 70-30 with B2C categories growing 12% YoY. Cables/Lloyd sales grew 25%/21% YoY while other electrical categories grew in low single digits. Gross margin expanded 140bps YoY to 30.4% led by softer input costs. EBITDA margin remained weak at 8.3%, down 20bps YoY and below our/consensus of 9.8%/10.2%, owing to loss...
Reduce Havells India Ltd For Target Rs.1,130 - Centrum Broking Ltd
Reduce Havells India Ltd For Target Rs.1,130 - Centrum Broking Ltd
Source: Centrum Broking Ltd
25/07/2023 12:55:25 PM
Buy Havells India Ltd For Target Rs.1,545 - LKP Securities Ltd Havells revenue at Rs 48.2b (+14% YoY) stood marginally above estimate supported by betterthan-expected performance in Lloyds (+20% YoY) and cables and wires (+24% YoY), while, switchgears (+5% YoY), ECD (+5% YoY) & Lighting (-1% YoY) performance was marginally lower. Softening commodity prices although not fully reflected resulting in Gross margins of 30.4% (+140bps YoY). Advertising exp stood at Rs1.3b (2.8% vs 2.7% in 1QFY23; 2.3% in 4QFY23). EBITDA at Rs 4.02b (+11% YoY) stood below o...
Buy Havells India Ltd For Target Rs.1,545 - LKP Securities Ltd
Buy Havells India Ltd For Target Rs.1,545 - LKP Securities Ltd
Source: LKP Securities Ltd
24/07/2023 12:50:08 PM
Reduce Havells India Ltd For Target Rs.1,130 - Centrum Broking Ltd Havells India’s (HAVL) sales grew 14% YoY to Rs48.2bn, 10% above our estimate. While consumer demand was muted in April and May, it recovered in June. B2C-B2B sales mix stood at 70-30 with B2C categories growing 12% YoY. Cables/Lloyd sales grew 25%/21% YoY while other electrical categories grew in low single digits. Gross margin expanded 140bps YoY to 30.4% led by softer input costs. EBITDA margin remained weak at 8.3%, down 20bps YoY and below our/consensus of 9.8%/10.2%, owing to loss...
Reduce Havells India Ltd For Target Rs.1,130 - Centrum Broking Ltd
Reduce Havells India Ltd For Target Rs.1,130 - Centrum Broking Ltd
Source: Centrum Broking Ltd
22/07/2023 12:58:00 PM
Buy Havells India Ltd For Target Rs.1,500 - JM Financial Institutional Securities Ltd Havells’ 1QFY24 revenue grew 14% YoY (+15% 4-year CAGR; 3% above JMFe and consensus) led by strong growth in Lloyd (+20% YoY; in line with JMFe) and cables and wires (+24% YoY; 8% above JMFe). ECD growth was muted at 5% YoY (+12% 4-year CAGR) on account of unseasonal rains. EBITDA grew by 11% YoY (+10% 4-year CAGR) to INR 4bn (15% below JMFe/Consensus) while Adj. PAT rose by 12% (+13% 4-year CAGR) to INR 2.73bn (13%/19% below consensus respectively). Demand continues to be driven by ind...
Buy Havells India Ltd For Target Rs.1,500 - JM Financial Institutional Securities Ltd
Buy Havells India Ltd For Target Rs.1,500 - JM Financial Institutional Securities Ltd
Source: JM Financial Institutional Securities Ltd
22/07/2023 10:34:41 AM
Buy Havells India Ltd For Target Rs.1,466 - Religare Broking Ltd Decent revenue growth: Havells India posted decent revenue growth of 13.9% YoY to Rs 4,834 Cr while it remained flat sequentially. Within divisions, Cables revenue came in at Rs 1,485 Cr, up by 24.5% YoY while it declined by 5.3% sequentially. Its Llyod business remained on the growth path as it was up by 21% YoY/3.1% QoQ to Rs 1,311 Cr, ECD segment was up by 4.7% YoY/17.1% QoQ to Rs 878 Cr. Switchgears was up by 4.7% YoY whereas it was down by 10% sequentially, followed by lighting & fix...
Buy Havells India Ltd For Target Rs.1,466 - Religare Broking Ltd
Buy Havells India Ltd For Target Rs.1,466 - Religare Broking Ltd
Source: Religare Broking Ltd
21/07/2023 12:37:37 PM
Havells India`s Q1 profit rises on steady demand in cables business Home appliances company Havells India posted an 18.5% rise in first-quarter profit buoyed by sustained demand for its wires and cables due to steady infrastructure spending, sending shares 2.5% higher on Thursday. Analysts expected the wires and cables segment to grow in the quarter due to rising infrastructure spending by the federal government and healthy demand from the real estate sector. The Noida-based company's pre-tax profit for the quarter ended June 30 from its mainstay ca...
Havells India`s Q1 profit rises on steady demand in cables business
Havells India`s Q1 profit rises on steady demand in cables business
Source: Accord Fintech
20/07/2023 2:51:27 PM
Buy Havells India Ltd For Target Rs.1,580 - Motilal Oswal Financial Services Ltd A full-stack consumer durable company seeking to raise market share *  Highest TAM of INR2.2t Havells India (HAVL) has the highest total addressable market (TAM) of INR2.2t among listed companies in the consumer durable space. HAVL’s TAM has increased over the years due to its diverse product portfolio, presence in various sectors, and entry into the large home appliances segment through the acquisition of Lloyd. * will benefit HAVL in its structural growth: The Indian a...
Buy Havells India Ltd For Target Rs.1,580 - Motilal Oswal Financial Services Ltd
Buy Havells India Ltd For Target Rs.1,580 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
19/07/2023 11:46:40 AM
Buy Amber Enterprises Ltd For Target Rs. 2,929 - Yes Securities Ltd Our interaction with management of the company suggest Amber is gradually transforming into an air-conditioning solutions provider, thereby improving its wallet share from brands that have or are in process of setting up captive manufacturing capabilities. Amber is expected to outperform the industry as i) Completed reliability testing for critical electronic/mechanical components for RAC and is also winning orders ii) Acquired capabilities and approvals for Railways, which is aggressively in...
Buy Amber Enterprises Ltd For Target Rs. 2,929 - Yes Securities Ltd
Buy Amber Enterprises Ltd For Target Rs. 2,929 - Yes Securities Ltd
Source: Yes Securities Ltd
11/07/2023 11:16:20 AM
Buy Amber Enterprises Ltd For Target Rs. 2,614 - Yes Securities Our interaction with management of the company suggest Amber is gradually transforming into an air-conditioning solutions provider, thereby improving its wallet share from brands that have or are in process of setting up captive manufacturing capabilities. Amber is expected to outperform the industry as i) Completed reliability testing for critical electronic/mechanical components for RAC and is also winning orders ii) Acquired capabilities and approvals for Railways, which is aggressively in...
Buy Amber Enterprises Ltd For Target Rs. 2,614 - Yes Securities
Buy Amber Enterprises Ltd For Target Rs. 2,614 - Yes Securities
Source: Yes Securities Ltd
10/07/2023 2:51:33 PM
Avenue Supermarts gains on reporting 18% rise in standalone revenue in Q1FY24 Avenue Supermarts is currently trading at Rs. 3890.70, up by 25.35 points or 0.66% from its previous closing of Rs. 3865.35 on the BSE. The scrip opened at Rs. 3920.05 and has touched a high and low of Rs. 3935.00 and Rs. 3843.85 respectively. So far 4645 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4606.00 on 02-Sep-2022 and a 52 week low of Rs. 3292.65 on 16-Mar-2023. Last one week high and low of the scri...
Avenue Supermarts gains on reporting 18% rise in standalone revenue in Q1FY24
Avenue Supermarts gains on reporting 18% rise in standalone revenue in Q1FY24
Source: Accord Fintech
4/07/2023 10:55:46 AM
Smart home devices market declines further, slump to last into 2024 The global shipments of smart home devices fell 5.6 per cent (year-over-year) to 186 million units in the first quarter (Q1) this year. Smart speakers and networked video entertainment devices faced the steepest declines in the first quarter, down 15.4 per cent and 7.8 per cent, respectively, compared to the prior year, according to the International Data Corporation (IDC). The overall market is likely to decline by 1.8 per cent in 2023 as weak consumer demand and economic volatility c...
Smart home devices market declines further, slump to last into 2024
Smart home devices market declines further, slump to last into 2024
Source: IANS
2/07/2023 11:31:58 AM
Inflame Appliances zooms on bagging order from Livpure Inflame Appliances is currently trading at Rs. 569.00, up by 48.15 points or 9.24% from its previous closing of Rs. 520.85 on the BSE. The scrip opened at Rs. 530.00 and has touched a high and low of Rs. 572.00 and Rs. 515.00 respectively. So far 48250 shares were traded on the counter. The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 660.00 on 02-Sep-2022 and a 52 week low of Rs. 345.00 on 01-Jul-2022. Last one week high and low of the scrip sto...
Inflame Appliances zooms on bagging order from Livpure
Inflame Appliances zooms on bagging order from Livpure
Source: Accord Fintech
30/06/2023 4:56:19 PM
Consumer Staples Sector Update : Our index shows inflation entering negative territory By Yes Securities Ltd Our internal Consumer Staples Raw Material Inflation Index, which tracks the movement of key commodity prices at a basket level, has now actually entered the negative territory after almost 30 months (1.4% decline in May’23 versus May’22). 5- year CAGR inflation is also coming down slowly and now stands at 4.7% in May’23. Key movers on a MoM basis: Edible & Palm Oil, Barley, Mentha oil, Tea prices have meaningfully gone down while only WPI Potato and Wheat prices (slight...
Consumer Staples Sector Update : Our index shows inflation entering negative territory By Yes Securities Ltd
Consumer Staples Sector Update : Our index shows inflation entering negative territory By Yes Securities Ltd
Source: Yes Securities Ltd
30/06/2023 12:37:28 PM
Buy Havells India Ltd For Target Rs.1,420 - JM Financial Institutional Securities FY23 AR analysis; Resilience amid volatility In its FY23 Annual Report, Havells has emphasised on a) augmenting manufacturing, b) maximising value creation, and c) increasing R&D investment. Having 90% of products manufactured in-house ensures quality standards are maintained and customer needs are met. Havells is focused on ensuring its presence across the value chain through a) increased presence in e-commerce, b) deeper penetration into India through the Rural Vistaar programme and ...
Buy Havells India Ltd For Target Rs.1,420 - JM Financial Institutional Securities
Buy Havells India Ltd For Target Rs.1,420 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities Ltd
28/06/2023 2:53:31 PM
Aditya Vision trades in green on the BSE Aditya Vision is currently trading at Rs. 1675.00, up by 25.15 points or 1.52% from its previous closing of Rs. 1649.85 on the BSE. The scrip opened at Rs. 1673.85 and has touched a high and low of Rs. 1699.80 and Rs. 1640.05 respectively. So far 12817 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1845.00 on 12-Dec-2022 and a 52 week low of Rs. 722.00 on 21-Jul-2022. Last one week high and low of the scrip st...
Aditya Vision trades in green on the BSE
Aditya Vision trades in green on the BSE
Source: Accord Fintech
27/06/2023 11:15:25 AM
Buy Tata Consumer Products Ltd For Target Rs.950- ICICI Securities Likely improvement in (sustainable) profitability of Tata Salt; a DCF-accretive event   We believe Tata Salt has the “price-retention’ power to largely retain consumer prices in the event of commodity price correction – implying higher DCF-accretive gross margin expansion. We reckon it will utilise the higher resources to drive growth in Sampann, Soulfull, Nourishco, Tata Coffee etc. Tata Salt (and TCPL) gross margins were impacted in H2FY22-H1FY23 due to steep in...
Buy Tata Consumer Products Ltd For Target Rs.950- ICICI Securities
Buy Tata Consumer Products Ltd For Target Rs.950- ICICI Securities
Source: ICICI Securities Ltd
22/06/2023 12:35:10 PM