Emami Q4 Review - Result Oriented Strategy Driving Performance: Centrum Broking
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
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:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.