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, 02:44PM

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.

Is Marico Kaya Enterprises Limited worth buying?

9 Votes:

Buy 77.78%

Sell 11.11%

Hold 11.11%