Havells India Ltd, an electrical equipment company, is scheduled to release its earnings report for the first quarter of fiscal year 2024 (Q1FY24) on Thursday, July 20.

According to a CNBC-TV18 poll, the company is expected to witness a 7 percent growth in revenues, reaching Rs 4,515.5 crore as compared to Rs 4,230.1 crore in the same quarter last year. Furthermore, the company's EBITDA is projected to surge by 31 percent to Rs 475 crore, up from Rs 361 crore in the previous year.

While the revenues in the cables and wires segment are anticipated to rise, the company's air conditioner brand, Lloyd, is predicted to experience relatively slower growth.

The company's margin growth is expected to reach 10.5 percent, an increase from the 8.5 percent reported in Q1FY23. Moreover, the profit after tax is forecasted to rise by 34 percent, reaching Rs 324.3 crore compared to Rs 242 crore in the corresponding quarter last year.

Notably, broking firm UBS recently upgraded Havells India Ltd from a 'neutral' to a 'buy' rating, along with raising its price target for the stock to Rs 1,900 per share from Rs 1,360.

Additionally, domestic brokerage house Motilal Oswal initiated coverage on the company with a 'Buy' rating and set a target price of Rs 1,580 per share.

First Published:Jul 19, 2023 8:31 PM IST