Emami: Getting its mojo back after a long hiatus
'Project Khoj' to be game-changer for Emami, leading to increased presence across different states
August 03, 2021 / 09:17 AM IST
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
The June 2021 quarter results of Emami (CMP: Rs 570; Market capitalisation: Rs 25,331 crore) were above Street expectations. In spite of the second wave of COVID-19 impacting the summer portfolio, Emami was able to record a decent growth in the domestic market compared with the June 2020 quarter.
June 2021 quarter results
The domestic business grew by 42 per cent year on year (YoY), while international revenues were higher by 17 per cent and institutional business by 34 per cent....