Get App
Moneycontrol

Co-Partners

Associate Partners

Last Updated : May 06, 2019 05:12 PM IST | Source: Moneycontrol.com

Buy Dabur India; target of Rs 450: ICICI Direct

ICICI Direct is bullish on Dabur India has recommended buy rating on the stock with a target price of Rs 450 in its research report dated May 03, 2019.

Broker Research @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

ICICI Direct's research report on Dabur India


Domestic business grew slower by 5.9% with volume growth of 4.3% during the quarter. The international business reported growth of 1% in constant currency terms impacted by underperformance of MENA region and adverse currency movement. EBITDA margins declined 238 bps YoY to 21.5% as material costs to sales, employee expenses to sales and overhead cost to sales increased 94 bps, 247 bps and 56 bps, respectively, partly offset by 159 bps saving in marketing spend to sales.


Outlook


We expect Dabur to generate revenue, PAT growth at 11.2%, 11.4% CAGR, respectively, on the back of strong volume growth of 7% in FY19-21E. Hence, we maintain our BUY recommendation on Dabur with a revised target price of Rs 450.


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.



Get Lok Sabha 2019 Live Election Results, constituency-wise tally, news, views and analysis
Follow our Lok Sabha Election Result Live Blog here.
First Published on May 6, 2019 05:12 pm
More From
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant