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Prabhudas Lilladher Report
We are increasing Dabur India Ltd.'s FY22/23 earnings per share estimates by 2.3%/3.0% on back of-
strong growth expected in beverages portfolio on a low base and
foods business to clock revenues of Rs 1 billion in FY22.
Management expects growth to moderate from current levels and have guided at double digit revenue growth for FY22 led by mid-single digit growth in healthcare (on a strong base), mid-teens growth in home and personal care and high double digit growth in food and beverage.
We however, believe that long term outlook remains positive given-
innovation led growth strategy,
increasing share in oral care on the back of growth in herbal category,
innovations at low price point in beverages allowing Dabur to leverage its distribution,
cost saving initiatives like project Samruddhi and
focus on increasing rural distribution to 80,000 villages in two years.
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