Emami soars nearly 19% to hit 52-week high after reporting Q4 results; brokerages raise targets
Emamis consolidated net sales grew by eight per cent to Rs 881 crore in the fourth quarter, while its revenue from operations was also up by seven per cent to Rs 891 crore Year-on-Year. Its domestic business grew by eight per cent with a volume growth of 6.4 per cent.
Emami Hits a 52-week High: Emami Ltd shares skyrocketed by nearly 19 per cent to hit a 52-week high on BSE on Thursday (May 30, 2024) after the FMCG large-cap firm reported its fourth-quarter results.
Emami that closed the previous session at Rs 521.65 soared by 18.66 per cent to hit a 52-week high of Rs 619.00 on Thursday.
Emami shares closed trading up by 17.28 per cent, or Rs 90.15, at Rs 611.80 each on Thursday.
Emami Q4 results
Emami's consolidated net sales grew by eight per cent to Rs 881 crore in the fourth quarter, while its revenue from operations was also up by seven per cent to Rs 891 crore Year-on-Year.
Its domestic business grew by eight per cent with a volume growth of 6.4 per cent.
Emami's gross margins were up by 65.8 per cent, or 270 bps.
Its EBIDTA grew by six per cent at Rs 211 crore.
Jefferies on Emami Ltd (CMP 524)
After Q4 results, Jefferies has maintained a 'buy' call on the firm, raising its target to Rs 630 from Rs 580.
Goldman Sachs on Emami Ltd (CMP 524)
Goldman Sachs has maintained a 'buy' call on Emami, raising its target to Rs 640 from Rs 560.
HSBC on Emami Ltd (CMP 524)
HSBC has maintained a 'hold' on the stock, raising its target to Rs 510 from Rs 470.
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