Financial Freedom Offer: Subscribe to Moneycontrol Pro and grab benefits worth ₹15,000/-
Last Updated : Jul 02, 2020 04:45 PM IST | Source: Moneycontrol.com

Hold Emami target of Rs 240: Sharekhan

Sharekhan recommended Hold rating on Emami with a target price of Rs 240 in its research report dated June 30, 2020.

Broker Research @moneycontrolcom
  • bselive
  • nselive
Todays L/H

Sharekhan's research report on Emami

Consolidated revenue declined by ~17% (led by 19% decline in the domestic business, summer products pipeline filling with dealers/distributors affected by lockdown in the last 10 days of the quarter. Gross margin improved by 436 bps due to benign raw-material costs; OPM declined by 569 bps mainly on account lower operating leverage. Capacity utilisation in most of the plants is near normalcy; Zandu and pain management portfolio are gaining strong traction; focus on revamping growth prospects in men's fairness cream, and other key products. Gross margin benefits to sustain in the near term.


Reduction in significant promoters’ pledging will be a key re-rating trigger for the stock; maintain Hold with a revised PT of Rs. 240.

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.

First Published on Jul 2, 2020 04:45 pm