with launch of a slew of immunity boosters, Juices and Milkshake and a new shampoo and Covid care products (Hand, Surface sanitizer, COVID kit and Veggies wash etc.), which will help neutralize the COVID impact to some extent. Dabur is positive on rural demand revival given large scale migration, however we believe that overall impact on demand would be negative given large scale erosion in pricing power. We estimate just 1.5% EPS growth in Fy21 and 10.7% CAGR over FY20-22. While the endeavor to drive growth and invest gains in business is positive, sustained momentum in new launches...