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Buy Emami; target of Rs 570: Sharekhan

Sharekhan is bullish on Emami has recommended buy rating on the stock with a target price of Rs 570 in its research report dated January 27, 2021.

January 29, 2021 / 07:11 PM IST
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Sharekhan's research report on Emami

Emami posted strong performance in Q3FY2021.Revenue and PAT grew by 15% and 29%, respectively (OPM improved by 395bpsto 36.4%), led by broad-based growth across key categories. Domestic business sales volume grew by 13% against our and street expectation of 11%-14% growth. International business revenue grew by 26%, led by strong performance of MENAP and SAARC regions. Healthcare range, Boroplus range, and 7-in-one oils registered strong growth of 38%, 21%, and 32%, respectively, in Q3..


Management is confident of achieving double-digit volume growth with margin expansion in Q4. We maintain Buy with a revised PT of Rs. 570. The stock is currently trading at 23x its FY2023E EPS

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Jan 29, 2021 07:11 pm

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