Emami - Rural Juggernaut Continues In Q3: Prabhudas Lilladher
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Prabhudas Lilladher Report
We are increasing Emami Ltd.’s FY21/22/23 earning per share estimates by 2.3/4.1/4.3% following strong growth momentum in healthcare, hair care and gains from strong winter and higher rural salience for its products.
The company will build on its momentum led by -
1. 3-4% increase in penetration
2. Increased investment to strengthen rural distribution
3. 25-30% growth expected in health care
4. positive momentum post re-launch of Fair and Handsome and
5. Hair oils led by kesh king posting strong growth on a high base.
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