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Prabhudas Lilladher Report
We remain constructive on consumer space given strong tailwinds of demand from rural India and gradual pickup in urban demand post unlock and normalization of supply chain.
We believe that margins for select players will start correcting QoQ given rising commodity costs and comeback of advertisement spends, marketing and overheads.
Sales and profit before tax is expected to increase by 10.5% and 22.1% respectively. Ebitda margins likely to expand approximately 280 basis points. Adjusted profit after tax to grow 20.7%.
Due to improvement in consumer sentiment and declining Covid-19 cases, there has been uptick in discretionary spends and volume growth.
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