Dabur India Ltd. share price target

Dabur reported a decent print (+10% YoY India revenue, +5% YoY volume growth) with Foods and Beverages managing the show well. While Healthcare performance appears unexciting (lapping a high base), the HPC category did reasonably well. That said, the performance was decent on an overall basis.

We Maintain BUY with a revised TP of Rs 630 (49x FY24E EPS).

Maintain BUY with revised TPD of Rs 620 (vs earlier TP of Rs 680) as we continue to value it at 49x FY24E, implying an upside of 17% from the CMP.

Potential for sustained double-digit topline growth; attractive at current levels We reiterate our BUY rating on DABUR with a TP of INR705, implying 29% potential upside. Our investment thesis on DABUR is premised on the following key attributes: a) highest topline growth visibility among peers, b) consistent market share gains across categories, and c) potential to record even faster earnings growth post-completion of its ongoing investment phase. The key catalysts that underpin a sustained double-digit topline growth for DABUR include: a) an impressive performance in the Ayurvedic healthcare space,...

Dabur India Ltd (Dabur), a leading Indian FMCG company, is a world leader in Ayurveda with a portfolio of over 250 Herbal/Ayurvedic products. The company operates through Health Supplements, Digestives, Shampoos, Hair...