Buy Dabur India Ltd For Target Rs. 616 - Religare Broking
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Investment Pick - Dabur India Ltd.
* Dabur India reported healthy set of numbers for Q3FY21 its revenue grew by 16% YoY to Rs 2,729 cr driven by strong volume growth of 18.1% in domestic FMCG business. Its EBITDA grew by 16.5% YoY to Rs 574 cr while margin expansion was flat. PAT grew by 17.8% YoY to Rs 494 cr on the back of lower interest expense.
* Dabur’s portfolio is gaining traction each passing quarter largely driven by its focus on health and hygiene segment, new product launches, heavy investment behind their power brands and expanding in rural area. In addition cost optimisation measures and improving go-to-market approach is well supporting company’s growth. We remain positive on the company’s long term growth plans and have maintained a Buy on the stock with a target price of Rs 616.
Buy Dabur India Ltd @ 9-12 Months CMP 526.1 TGT 616
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