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2026-01-10 03:56:54 pm | Source: Motilal Oswal Financial Services Ltd
Buy Emami Ltd for the Target Rs. 675 by Motilal Oswal Financial Services Ltd
Buy Emami Ltd for the Target Rs. 675 by Motilal Oswal Financial Services Ltd

* We model 11% revenue growth and 13% volume growth, led by the loading of winter products and normalization of trade post-GST implementation.

* Kesh King has seen improvement, and the product relaunched in 2Q will also contribute to the growth.

* GM is expected to flat YoY at 70.4% and EBITDA margin is likely to expand 80bp YoY to 33.4% led by operating leverage.

* International business expected to deliver 10% revenue growth in 3Q.

 

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