Quote on Emami -1QFY22 - Result Update by Mr. Amarjeet Maurya, Angel Broking Ltd
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Below is quote on Emami -1QFY22 - Result Update by Mr. Amarjeet Maurya - AVP - Mid Caps, Angel Broking Ltd
During 1QFY22, Emami Ltd (EL) Sales grew ~37% to Rs6.6bn on healthy growth. Domestic business grew ~42% (volume growth was ~38%), international ~17% and institutional grew ~34%. Gross margin slightly declined by 50bp. EBITDA grew ~38% to Rs1.7bn on back of lower other overhead spends. EBITDA margins at 25.7% growing by 20 bps. The reported net profit grew by ~97% YoY to Rs0.78bn due to strong sales. Considering better than expected 1QFY22, twe are positive on stock.
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