Marico Kaya Enterprises Limited share price target and research reports

Name: Latest research reports of Marico Kaya Enterprises Limited authored by HDFC Securities and published by - Trendlyne research reports.
Item: Marico Kaya Enterprises Limited
Rating: 5
Author: HDFC Securities

Latest analyst research reports with target prices and PDF download for MAKE, Marico Kaya Enterprises Limited

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Marico Kaya Enterprises Limited

30 Apr 2015

Marico Kaya (4QFY15) : Thesis intact. Maintain BUY

Buy: Marico Kaya Enterprises Li...

Target

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%.

Marico Kaya Enterprises Limited

18 Mar 2015

Marico Kaya (Initiating Coverage) : Skin care Titan. BUY

Buy: Marico Kaya Enterprises Li...

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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Is Marico Kaya Enterprises Limited worth buying?

8 Votes:

Buy 75.0%

Sell 12.5%

Hold 12.5%