We are planning to expand our services in next two, three quarters in India: S Subramanian, CEO, Marico Kaya Enterprises
We are planning to expand our services in next two, three quarters in India: S Subramanian, CEO, Marico Kaya Enterprises
Economic Times
In an exclusive interaction with ET NOW, S Subramanian, CEO, Marico Kaya Enterprises talks about the key drivers for the top line growth, revenue and the future expansion plans of the company. Excerpts:
HDFC Securities
Marico Kayas (Kaya) 4QFY15 revenue and PAT were inline with our estimates. Despite sluggish macro environment, Kaya India SSG grew by a robust 12% along with 5% YoY growth in customer count. By adding 8 new clinics in 4Q, the company reached its target of 100 clinics in India in FY15. The company also added 7 KSB (taking its total to 14). However, new clinic addition will be margin dilutive as evident in EBITDA margin (India) contraction of 100bps YoY to 6%.
Business Standard
The stock dipped 12% to Rs 1,550 on the NSE.
HDFC Securities
A pioneer in cosmetic dermatology, Kaya remains unchallenged in the organised skin clinic space in India. Management is confident of 20% revenue CAGR over the next 3-5 years, a claim that looks surpassable. A new found focus on product sales adds synergies to its story. Kaya turned profitable in FY14 (after 11 years of losses) and has significant untapped operating leverage in its operations.
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