Emami Q3 Results Review — Dolat Capital Revises Upward Rating To ‘Reduce’; Here's Why

Emami is continuously improving its share in the new trade channels and is expected to accelerate sales..NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Dolat Capital Report.Emami Ltd.’s Q3 FY25 revenue was in line; however, Ebitda and adjusted profit after tax were ahead of our estimates. Domestic business revenue grew by 9.0% led by 6.0% volume growth, while international business de-grew by 3.0% YoY. In constant currency terms, IB reported 2% de-growth. In Q3 FY25, organized channels like Modern Trade, E-Commerce, and Institutional sales contributed 28.6% to domestic business, a 160 bps increase in Q3 FY25. Emami is continuously improving its share in the new trade channels and is expected to accelerate sales. Though Q3 profitability was ahead, we have decreased our FY25/26/27E EPS estimates by 6.4/2.4/1.4% at Rs. 18.7/20.4/21.5 to factor in overall slowdown in the industry and seasonality associated with the company. We continue to value the stock at 28 times FY27E EPS and arrive at a target price of Rs. 601. Considering the recent correction in stock price, we have upward revised our rating to ‘Reduce’..Click on the attachment to read the full report:.Emami Q3 Results: Profit Up 8%, Announces Dividend Of Rs 4 Per Share.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Emami Q3 Results Review — Dolat Capital Revises Upward Rating To ‘Reduce’; Here's Why

Considering the recent correction in stock price, the brokerage have upward revised its rating to ‘Reduce’.

NDTV Profit

NDTV Profit

Follow Us

DISCOVER US FASTER

DOWNLOAD THE APP