Proven the resilient performance for the quarter and an attractive market share recovery in near-term, we retain BUY rating on the stock with a revised target price of Rs. 1,770 based on 50x FY22E adj. EPS. Exceptional brand image benefiting revenue despite pandemic The standalone business revenue showed a dip of 3.9% YoY to Rs. 1,034cr in Q1FY21 as sales volumes remained stagnant YoY, majorly impacted by a fall in toothbrush and body wash segment. Disrupted supply and distribution also added to the decline in revenue. On the contrary, toothpaste segment showed resilience in maintaining its...