Sachin Pal
Moneycontrol Research
Highlights
- Revenues declined 45 percent YoY
- Decline across business verticals
- Cost savings supported margins
- Q2 is expected to be better than Q1
- Valuations expensive at 56 times FY22 earnings
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Havells India’s Q1 earnings took a massive hit due to the nationwide lockdown that affected sales and production. Its business is facing a challenging phase due to the Covid-induced recession. But it still merits investor attention due to its proven track record and long-term potential
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