BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Religare maintains sell on Emami
Emami posted above-expected earnings in Q4. We believe higher A&P spends to drive consumer demand, but new launches would keep margins range-bound. Current valuation at 30 times FY18 estimated earnings per share, looks expensive and factors in the inherent strength in Emami's business.