CLSA has maintained buy on the stock and cut target to Rs 500 from Rs 570 per share. It see a potential upside of 30 percent in the stock.
Shares of Dabur India slipped 3 percent intraday Thursday after company reported a net profit of Rs 377.5 crore for the September quarter, a rise of 4.1 percent as compared to Rs 363 crore posted by the firm during the same period of last year.
The revenues have risen 8.5 percent year on year at Rs 2,125 crore from Rs 1,958.9 crore.
The earnings before interest, taxes, depreciation and amortization (EBITDA) rose 7 percent at Rs 450.9 crore during the quarter under review.
The board has declared interim dividend of Rs 1.25 per equity share having face value of Re 1 each (i.e. 125 percent) on the equity shares of the company for the financial year 2018-19.
Brokerage: Jefferies | Rating: Buy | Target: Rs 460
Jefferies has maintained buy but cut target price to Rs 460 from Rs 520 per share. It expect potential upside of 19 percent.
According to firm the Q2FY19 is a muted quarter as margins below par. The shift in festive season has impacted domestic volume growth.
It cut estimates to factor in lower margins.
Brokerage: CLSA | Rating: Buy | Target: Rs 500
CLSA has maintained buy on the stock and cut target to Rs 500 from Rs 570 per share. It see a potential upside of 30 percent in the stock.
The Q2FY19 EBITDA misses but earnings is in-line. The management retained double-digit volume growth guidance but sounded cautious, it added.
At 10:26 hrs Dabur India was quoting at Rs 375, down Rs 10.40, or 2.70 percent on the BSE.
