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Dolat Capital Report
Emami Ltd.'s Q4 FY21 results were ahead of our estimates.
Domestic business jumped 44%, while international business posted 28% revenue growth in Q4.
All categories reported strong double digit growth on favourable base.
Boroplus jumped five times (77% decline in Q4 FY20) as supply led constraints are addressed completely.
The company launched 40 plus new products during FY21.
New products development contributes 4% of domestic revenues.
International business posted 28% growth driven by 14% increase in South Asian Association for Regional Co-operation and 53% growth in Middle East, North Africa, Afghanistan, and Pakistan.
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