Emkay Global Financial recommended hold rating on Emami with a target price of Rs 240 in its research report dated June 29, 2020.
Emkay Global Financial's report on Emami
Emami’s Q4FY20 revenue and EBITDA came in 5% and 31% below estimates at Rs5.3bn and Rs1bn, respectively. The domestic business remained weak as most core brands recorded a steep decline. Sales declined 17%, owing to a 19%/4% fall in the domestic/international business. Excluding 7 Oils in One, which grew 5%, the performance across brands was weak, with Boroplus/Male Grooming/Navratna/Healthcare ...
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