Emami Q3 Results Review - Performance Expected To Improve: Dolat Capital

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Dolat Capital Report.Emami Ltd.’s operational performance was below our estimate, but adjutes profit after tax was in line with our estimate due to low tax rate during the quarter. Domestic business grew 1% (6% three-year compound annual growth rate) while international business reported 7% YoY growth. Core business volume de-growth during the quarter was at 3.9%. Excluding Dermicool business, modern trade grew by 20% (10.5% contribution) while e-commerce jumped 45% YoY (7.9% contri) in Q3 FY23. Emami is continuously improving its share in the new trade channels and is expected to accelerate sales. We have marginally revised our FY23/24/25E earnings per share estimates to Rs 14.6/17.9/18.3 to factor in Q3 performance. Going ahead, we believe that with rural demand improvement and softening in raw material prices, Emami’s operational performance would improve here on. .Click on the attachment to read the full report:.Dabur India Q3 Results Review - Rural Revival Holds Key To Re-Rating: Prabhudas Lilladher.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Emami Q3 Results Review - Performance Expected To Improve: Dolat Capital

Emami is continuously improving its share in the new trade channels and is expected to accelerate sales.

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