Buy Dabur Ltd For Target Rs. 575 by Motilal Oswal Financial Services Ltd
* We expect ~2% revenue growth, led by the 3% volume growth in the India business. We expect some sequential improvement in demand.
* The Beverage portfolio was impacted during the quarter due to unseasonal rains and a short summer. However, Activ Juices and Activ Coconut water saw good momentum, with growth expected in mid-teens.
* Home and Personal Care (HPC) division is expected to perform well, driven by the oral, home, and skin care categories. Within healthcare, brands such as Dabur Honey, Hajmola, Dabur Honitus, and Dabur Health Juices are expected to post robust double-digit growth.
* International business is expected to post double-digit constant currency growth.
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