Lava

Soon to Erupt! Hurry!

India is on its way to becoming the next manufacturing hub of smartphones. Mobile Phone Exports from India to achieve a new high in FY23 with shipments worth 9 Bn$ to be exported, showing a growth of over 155% year on year, compared to the previous financial year when India exported 5.8 Bn$ worth of smartphones. Leading this growth is Lava whose tremendous growth in the smartphone segment can be attributed to 3 factors mainly: 

1. Manufacturing of Smartphones for Nokia in India
2. Getting access to the Pan India distribution network of Motorola
3. Acquisition of B-Mobile group for over Rs. 375 Cr.

The 5 year average of industry P/E is 73.3, whereas Lava stood at 43.4. Current share price of Lava stands at  ₹ 150 which is expected to increase to ₹ 250 in the near future. For further updates, stay tuned with Planify.