Sell Honeywell Automation India, target price Rs 31212: ICICI Securities

ICICI Securities has sell call on Honeywell Automation India with a target price of Rs 31212. The current market price of Honeywell Automation India is Rs 43580. Time period given by analyst is one year when Honeywell Automation India Ltd. price can reach defined target. .

Honeywell Automation India Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 38327.96 Crore) operating in Engineering sector.

Honeywell Automation India Ltd. key Products/Revenue Segments include Electronic Components, Sale of services, Traded Goods, Other Operating Revenue and Scrap for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2022, the company reported a Standalone Total Income of Rs 815.37 Crore, up 17.62 % from last quarter Total Income of Rs 693.21 Crore and up 15.66 % from last year same quarter Total Income of Rs 705.00 Crore. Company reported net profit after tax of Rs 101.97 Crore in latest quarter.

Investment Rationale
HAIL has longer-cycle orders compared to its peers ABB and SIEM. The brokerage expects revival in HAIL’s performance as near-term headwinds wane out. Long term secular growth drivers in process automation and digitisation, building management and cyber security, and constant improvement in product portfolio, will drive HAIL’s long-term growth. It believes supply-chain issues, especially related to semiconductors, still persist and may take a few quarters to normalise.