Buy Bajaj Consumer Care; target of Rs 200: Sharekhan

Rama Steel Tubes: Nomura Singapore buys 1 lakh shares in Rama Steel Tubes. Nomura Singapore bought 1 lakh equity shares in the company via open market transactions on June 15. These shares were acquired at an average price of Rs 371 per share.

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

Sharekhan's research report on Bajaj Consumer Care

Q1FY2023 financials were mixed with revenue growing by 14.6% y-o-y to Rs. 247 crore (driven by a 14% rise in volumes), while a 980 bps y-o-y fall in OPM dragged down adj. PAT by 32% y-o-y to Rs. 33.4 crore. With new product launches the company is catering to ~83% of the overall hair oil market from mere 35% earlier. Market share remains at 10.3%. Bajaj Almond Drops hair contribution reduced to 86% from 93-94% earlier due to strong traction for new launches and Amla portfolio. Rural demand recovery will help the ADHO segment bounce back, while higher media spends would support new launches and key products, expansion on digital platform, widening distribution reach will drive growth in the medium term. Company eyes OPM of 20-21% in the medium term.

Outlook

Stock has underperformed broader indices and trades at discounted valuations of 13.3x/11.3x its FY2023E/24E EPS. We maintain a Buy on the stock with a revised PT of Rs. 200.

For all recommendations report, click here

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

Bajaj Consumer Care - 030822 - khan