Bajaj Consumer Care Ltd. share price target

Weak consumer demand- accentuated by GST roll outout let to subdued volume growth for Bajaj Corp in Q1FY18. FY18. In Q1FY18 operating profit was down by 14.5% to Rs 60.64 crores ($9.4m),, primarily due to combined effect...

Trade Disruption due to GST Impacts Performance Trade pipeline correction in anticipation of GST roll-out coupled with weak consumer demand led to muted set of numbers for Bajaj Corp in 1QFY18. While net sales fell by 3.4% YoY to Rs2bn, reported net profit grew by 5.3% YoY to Rs550mn. Both top-line and bottom-line missed our estimates by 5%. EBITDA declined by 14.5% YoY to Rs606mn, primarily due to higher employee and other expenses during the quarter. We believe that trade disruption in wake of GST is a temporary phenomenon and expect it to correct itself in ensuing quarters. We expect the demand scenario to improve on the back of...

Managed to Post Flat Revenue Numbers YoY Due to De-growth in Volume Numbers: Bajaj Corp has delivered flat revenue numbers for the year due to 3.2% de-growthin volumes which is mainly due to destocking continued in the wholesale segment as well as the sluggish revival in the rural markets. EBITDA for the year reported at Rs. 2636 Mn which is declined by 3.7% over the last year. The company has reported total income from operations at Rs.2045 Mn during this quarter,registering 2.0% YoY de-growth, compared to Rs.2088 Mn during Q4FY16.

Bajaj Corp has delivered poor set of numbers in 4QFY17 with its net sales falling by 1.9% YoY to Rs2bn, while pre-exceptional net profit plummeted by 20.2% YoY to Rs527mn. Overall volume for the quarter has declined by 7% YoY. Considering the tough quarter, we have revised our revenue and profit estimate for FY18E downwards by 4% and 7%, respectively. We expect Bajaj Corp to report revenue and earnings CAGR of 14.5% and 18.5%, respectively through FY17-19E. Considering the Company's market leadership and pricing power, coupled with attractive...

No mark registered net sales of around ` 5.3 crore sales in Dec'16 quarter. The business is improving, but new products planned will be launched only in April'17 onwards. Company testing out the new strategy of focusing on No Marks Cream in one state at a time, the results of which will be known in a couple of month's time. So, if the results turn out to be positive sometime in...

In the light of demonetisation and its resultant impact on consumer demand, Bajaj Corp has reported decent numbers in 3QFY17. Its net sales fell by 4.8% yoy to Rs1.9bn, while net profit grew by 17.2% yoy to Rs578mn aided by favourable base that included amortisation charge of Nomarks. We expect recovery in demand in FY18E owing to improved consumer sentiments and higher currency circulation. Expecting 9.1% & 21% CAGR in revenue and earnings through FY16-18E, we reiterate our BUY...

in volumes and value respectively. On the other hand, light hair oil exhibited a growth of 0.2% and 1.2% in volumes and value respectively, over the same time period, with Almond Drops hair oil displaying a de growth of 1.5% and...

PAT Margins Expanded; but Muted Pick-up in ADHO Volume Numbers: Bajaj Corp has delivered flat growth numbers in Q2FY17 under sluggish demand scenario. The companys flagship brand Almond Drops Hair Oil (ADHO) has shownslight drop in volume and value due to adverse demand effect. The company has reported total income from operations at Rs.1968 Mn during this quarter, postingYoY growth of 3.5% when compared to Rs.1901 Mn during Q2FY16.

Revenue growth was in line with their expectations; affected by slowdown in rural markets and sluggish demand in urban markets .Flagship brand Bajaj Almond Drops saw volume growth of 1% vs. our expectation of 2%. NoMarks sales fell 16% as ongoing repositioning of the brand has not met with success.Margins continued to expand led by further fall in prices of key raw material – LLP PAT growth was in line with our expectations.Phillip Capital value Bajaj Corp at 23x FY18 EPS (22x earlier) at Rs 450 (Rs 440 earlier). While target multiple is at a substantial discount of 40% to the sector’s target multiple due to the Bajaj Corp's limited diversification, maintain Buy on upside potential and valuation comfort.

Trendlyne has 7 reports on BAJAJCORP updated in the last year from 4 brokers with an average target of Rs 463.3. Brokers have a rating for BAJAJCORP with 1 price downgrade,1 price upgrade in past 6 months and 2 price downgrades,2 price upgrades in past 1 Year.

Bajaj Corp's revenue grew by 1.8% yoy to Rs2bn, while net profit rose by 10.1% to Rs522mn and EBITDA stood at Rs709mn in 1QFY17. Overall volume growth stood at 0.8%, while flagship Almond Drops Hair Oil (ADHO) witnessed 2.2% volume growth during the quarter. We expect Bajaj Corp to report 15% CAGR in revenues and 24.9% CAGR in earnings through FY16-18E and maintain our BUY...