Dabur India Q1 Review - Beat On All Fronts; Future Outlook ‘Healthy’: Motilal Oswal
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Motilal Oswal Report
Dabur India Ltd.’s Q1 FY22 result came in above our expectations on all fronts.
The management’s confidence on:
double-digit sales growth prospects for FY22, despite a challenging base for the healthcare business in the remaining quarters, and
target of maintaining or growing FY22 Ebitda margin YoY, despite the ongoing rise in material costs, is encouraging.
The management’s initiatives in the last two years of:
a spate of new launches,
sharp increase in advertising spends,
continued expansion in distribution,
investment in technology and analytics, and
cost saving efforts plowed back into the business for growth has set Dabur on the right path towards a much stronger topline and earnings growth trajectory, commensurate with the inherent potential in its healthcare, foods, and health and personal care businesses.
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