Bajaj Consumer Care - Just One Quarter - Many Answers: ICICI Securities
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ICICI Securities Report
Bajaj Consumer Care Ltd.’s Q3 results was a beat on all counts. The improving fundamentals will likely drive stock re-rating, in our view.
Interim dividend (announcement) of Rs 6 somewhat allays consensus concerns on cash utilisation. Q3 revenue grew 17%. We like the renewed thrust on -
- product relaunch (upgraded formulation),
- new stock keeping units (filling white spaces),
- communication (integrated campaign, thrust on digital and improved brand visibility across retail outlets) and
- focus on categories beyond Almond Drop Hair Oil (Amla (gooseberry) market share doubled through distribution expansion).
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