Sharekhan has given Buy recommendation for Dabur India with a target price of Rs. 605 in its research report issued on Jan 29, 2021
Sharekhan’s research report on Dabur India
Dabur India’s (Dabur) domestic volumes grew by a healthy ~18.1%, beating ours as well as the street’s expectation of 11-12%. Health supplements, OTC & ethicals, shampoos and oral care posted healthy growth of 34.5%,29%, 28.6% and 28%, respectively. Healthcare and oral care products to continue good run while revival in home care, foods and skin care will drive next leg of revenue growth. Management aims to maintain OPM through cost-saving initiatives and price hikes.
Outlook
Revenues and PAT likely to clock CAGR of ~14% and 16% over FY2020-23. We maintain a Buy on the stock with PT of Rs. 605.
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