Emami Q4 Review - Result Oriented Strategy Driving Performance: Centrum Broking

Emami Ltd.'s namesign and logo. (Source: Company website)

Emami Q4 Review - Result Oriented Strategy Driving Performance: Centrum Broking

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Centrum Broking Report

Emami Ltd.’s Q4 FY21 print was ahead of our estimates; consolidated revenue/ Ebitda/ adjusted profit after tax grew 37.2%/65.2%/169.5%.

Domestic business saw 44% value growth led by strong volumes up 39%, while international business grew 28%.

Management indicated, strong sequential recovery in hair oils, and resilient demand for health, hygiene, yet immunity product grew slower.

Rising input prices weighed high on gross margin at 62.7% (down 250 basis points).

Despite rise in ad-spend (up 36.5%), employee cost (up 5.4%) and other expenses (up 8.6%) Ebitda grew 65.2% resulting Ebitda margin at 22.3% (up 378 basis points).

Click on the attachment to read the full report:

Centrum Broking Emami Ltd - Q4FY21 Result Update .pdf

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