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Emami: Will earnings growth pick up?

Summer portfolio of Emami likely to be impacted by the second wave of COVID-19

May 26, 2021 / 09:23 AM IST
Emami: Will earnings growth pick up?

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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

Emami’s March quarter results were below Street expectations (CMP: Rs 500; Market capitalisation: Rs 22,215 crore). Emami clocked 37 per cent sales growth on the back of the lower base of last year. Compared with March 2019, growth was 14 per cent. March 2021 quarter performance Emami saw a 33 per cent overall volume growth in the March 2021 quarter with domestic business volumes growing by 39 per cent. In terms of revenues, domestic, international and institutional businesses contributed 80 per...

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