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Centrum Broking Report
Our interaction with the management reinforced our confidence in the company.
With extension in hair oil portfolio – ADHO, Amla and Coconut, Bajaj Consumer has expanded its total addressable market in a ~Rs 130 billion category.
It is now pushing the peddle on its go-to-market strategy to revive growth, as people, processes and systems are in place.
We believe decline in wholesale contribution would have short-term impact, as it would take time to build traditional distribution in rural markets and improve its direct reach.
The management alluded that competition is driving volume-led growth in the lower price Amla segment, yet company would be selective in playing this segment.
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