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EMAMILTD Consensus Forecast

No. of reports in last year
4
No. of analysts
3
Average Consensus Forecast
504.5
Consensus Potential
-10.93%

EMAMILTD Price Target Potential

BrokerageTargetPotential
Nirmal Bang5601.46%
Prabhudas Lilladher5682.85%
Sharekhan440-25.41%

EMAMILTD Targets in FrontPage Forums

3 Users have submitted 3 trade ideas of Rs. 449,695 for EMAMILTD
100% Bullish
0% Bearish
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EMAMILTD Ratings

Long term EMAMILTD rating by FrontPage users
3.7/5 (7 Ratings)

4 EMAMILTD share price target reports by brokerages below. See what is analyst's view on EMAMILTD share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
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EMAMILTD Share Price Target

EMAMILTD Share Price Target - Broker Reports - 2021

28-Jan-21
Price @ Call: 479.5
Target: 560
BUY
27-Jan-21
Price @ Call: 482.11
Target: 568
BUY

EMAMILTD Share Price Target - Broker Reports - 2020

6-Nov-20
Price @ Call: 369.91
Target: 450
BUY
5-Oct-20
Price @ Call: 350.55
Target: 440
BUY
28-Feb-20
Price @ Call: 255.62
Target: 310
BUY
After coming in at an admirable ~20%/ 34%/35% in the first five years of the decade, sales/EBITDA/PAT CAGR has slowed down significantly to ~5%/ 7%/3% for the five years ending FY20. Sales growth in many of HMN’s key categories has been impacted in recent years due to rural slowdown (52% rural dependency), liquidity crunch (~40% wholesale contribution) and category growth issue (majorly problem-solving portfolio and not everyday use products with the former getting affected more in a weak demand situation). However, none of these are structural issues and thus HMN will be a key beneficiary when the tide turns. Valuations of 20x trailing EPS and 16.4x FY22 EPS (~20x after taking into account amortization) also offer some comfort. Moreover, valuations are at ~60% discount to peer average and ~50%/40% discount to its own 5/10-year average. Maintain Buy with a TP of INR310 (targeting 20x FY22E adj. EPS).
... Read more
11-Feb-20
Price @ Call: 292.7
Target: 330
ACCUMULATE
There is marginal upward revision to our FY21/FY22E EPS. Our concerns relating to the domestic business remains, with rural growth outlook and traditional channel liquidity concerns still uncertain in the near term. We will wait for signs of consistent improvement in key categories before becoming more constructive on the stock. Thus, maintain our Accumulate rating on the stock with a revised target price of Rs. 330 (based on P/E multiple of ~21x on September’21 EPS), implying an upside of 10% from CMP.
... Read more
10-Feb-20
Price @ Call: 300.4
Target: 355
BUY
Changes to the model have resulted in 3-4% reduction in our EPS forecast. The outlook on recovery is unclear, and management is facing significant headwinds to grow its Male Grooming category. However, the sharp reduction of pledge earlier this week after the sale of the group cement business and inexpensive valuations of 21.2x/18.6x FY21/22E EPS lead us to maintain Buy with a TP of INR355 (18% upside).
... Read more
7-Feb-20
Price @ Call: 302.23
Target: 361
ACCUMULATE
We remain cautious on Emami on 1) low growth in key categories like premium hair oil, male skin creams and Pancharishtha 2) slowdown in rural demand given high dependence (54-55%) and 3) limited success in categories beyond traditional strongholds. Benign input costs are likely to support margins in medium term and will enable 12.3% Adj. PAT CAGR over FY19-22. and value the stock at 23xFY22 EPS to arrive at a price target of Rs361 (Rs359 at 25xSept21EPS earlier). Retain Accumulate. Reduction in promoter pledge and revival in growth holds key to re-rating of the stock.
... Read more

EMAMILTD Share Price Target - Broker Reports - 2019

6-Nov-19
Price @ Call: 325.67
Target: 352
HOLD
Valuation: We have broadly maintained our earnings estimates for FY2020 and FY2021, respectively as the performance of Q2FY2020 was in-line with our expectation. The management expects H2FY2020 to be better against the backdrop of an expected good winter season. Also, rural sales growth (55% of Emami’s domestic business) was in-line with urban sales growth, which is a positive sign of improving demand in the coming quarters. Operationally, performance is expected to improve going ahead. However, the promoter’s pledge of ~63% of its holding remains a key overhang on the stock. Hence, we maintain our Hold recommendation with an unchanged price target (PT) of Rs. 352.
... Read more
6-Nov-19
Price @ Call: 325.67
Target: 373
ACCUMULATE
We remain cautious on Emami on 1) low growth in key categories like premium hair oil, male skin creams and Pancharishtha 2) slowdown in rural demand given high dependence (54-55%) and 3) limited success in categories beyond traditional strongholds. Mentha prices have corrected by 28% since Mar’19 which will support margins. We estimate 13.9% Adj. PAT CAGR over FY19-22 and value the stock at 25x Sept21 EPS to arrive at a price target of Rs 373. Retain Accumulate. Overhang of promoter pledge remains a key issue, any resolution of same can re-rate the stock.
... Read more
30-Aug-19
Price @ Call: 296.62
Target: 312
HOLD
We estimate PAT to grow at 27.2% FY19-21E CAGR and EBITDA margin to improve to 28.8% by FY21E. However, given limited upside, we assign HOLD rating to the stock with a target price of Rs. 312 based on 28x FY21E adj. EPS.
... Read more
8-Aug-19
Price @ Call: 313.79
Target: 352
HOLD
We have reduced earnings estimates by 2.4% and 2.2% respectively for FY2020 and FY2021, to factor in the lower growth in the domestic business. Ayurveda oil brand Kesh King has seen a strong recovery in performance post strategic initiatives undertaken by the company. However, growth in healthcare and male grooming categories is yet to revive. Also, seasonality remains one of the key decisive factors for Emami’s product portfolio to perform well. Hence, we expect that a revival will take some time and maintain our Hold recommendation with a revised price target (PT) of Rs. 352, valuing the stock at 22x its FY2021E earnings.
... Read more
9-Aug-19
Price @ Call: 312.14
Target: 350
ACCUMULATE
Weak performance persists
Our fundamental concerns relating to the modest innovation pipeline and growth of key brands still remain. We anticipate revival in performance post a good monsoon and expect that the company would benefit from government’s impetus on rural income growth. We have retained Accumulate rating on the stock due to concerns regarding category growth and the ongoing rural slowdown with a target P/E multiple of 25x (from 28.5X earlier), giving us a TP of Rs350, up 12% from CMP.
... Read more
9-Aug-19
Price @ Call: 312.1
Target: 386
BUY
Challenges in business to stay for a while
We remain positive on Emami led by 1) sustained market share gains in core categories despite challenging environment, 2) increased traction in Kesh king post its relaunch and decrease in competitive intensity by Patanjali and 3) improved performance in 7 oils in one hair oil. Growth in International business was mainly led by acquisition of Crème 21. We believe margins to expand from the current level as Mentha prices have corrected by 22.3% sinceMar’19. Seasonality remain a key challenge in the stock. We estimate 10.3%Adj. PAT CAGR over FY19-21 and value the stock at 28x June21 EPS to arrive at a price target of Rs 386. Retain Accumulate.
... Read more
12-Jul-19
Price @ Call: 299.4
Target: 382
ACCUMULATE
Although Emami Group is indicating divestment of non- core businesses to reduce group debt, still visibility remains poor given high debts in their balance sheet. Although risk reward seems favourable at 22.1xFY21 EPS, returns are likely to be back ended given issues on promoter debt and poor growth numbers from past 3 years. We estimate 11% PAT CAGR over FY19- 21 and value the stock at 28xFY21 EPS arriving at a target price of Rs382. (Earlier Rs475 at 31xFY21 EPS). Retain Accumulate.
... Read more
28-May-19
Price @ Call: 356.4
Target: 410
ACCUMULATE
The key positive takeaway from the management conference-call was that the company is trying to rework its strategy across brands and could possibly see an improvement in the second-half of FY20. On the negative side, the performance of the company continues to be volatile because of seasonality and we do not expect the earnings growth of the company to continue trailing its peers. We have retained Accumulate rating on the stock with a target price of Rs410 based on a P/E multiple of 28.5x, implying an upside of 13% from the current market price or CMP.
... Read more
20-Feb-19
Price @ Call: 401.9
Target: 528
BUY
Emami’s stock was under pressure due to consistent weak operating performance and rising promoter share pledge. Although recovery in operating performance is delayed, the pressure on the stock w.r.t. share pledging is now behind after promoter divested 10% stake for Rs 16bn @Rs 355/share. With this, the promoter share pledge will decline from 48% as of now. This step will provide the promoter a breathing space to monetize its other group company assets (Cement, Power or AMRI Hospital) and to recover Emami Ltd’s performance. Hence, we believe promoter pledge can further decline. As a result, we believe promoter stake sale is a positive and will reduce the risk associated with the stock. On the business side, the company has also enhanced the quality of its distribution (direct reach up 1.5x post demonet) but is awaiting a favorable season to benefit from the same. We maintain our BUY rating and expect a re-rating in the stock.
... Read more
4-Feb-19
Price @ Call: 409.3
Target: 543
BUY
2-Feb-19
Price @ Call: 412.87
Target: 420
ADD
1-Feb-19
Price @ Call: 415.5
Target: 520
BUY
1-Feb-19
Price @ Call: 415.5
Target: 524
ACCUMULATE

EMAMILTD Share Price Target - Broker Reports - 2018

30-Nov-18
Price @ Call: 435.51
Target: 496
BUY
31-Oct-18
Price @ Call: 394.69
Target: 547
BUY
31-Oct-18
Price @ Call: 403.95
Target: 521
ACCUMULATE
3-Aug-18
Price @ Call: 568.57
Target: 671
BUY
3-Aug-18
Price @ Call: 568.57
Target: 634
BUY
3-Aug-18
Price @ Call: 566.45
Target: 647
BUY
2-Aug-18
Price @ Call: 567.4
Target: 561
REDUCE
2-Aug-18
Price @ Call: 567.4
Target: 603
ACCUMULATE
17-Jul-18
Price @ Call: 525.1
Target: 690
BUY
4-May-18
Price @ Call: 530.16
Target: 670.5
BUY
4-May-18
Price @ Call: 530.16
Target: 615
BUY
4-May-18
Price @ Call: 542.75
Target: 622
BUY
4-May-18
Price @ Call: 542.75
Target: 695
BUY
4-May-18
Price @ Call: 542.75
Target: 577
ACCUMULATE
22-Mar-18
Price @ Call: 526.7
Target: 562.5
ACCUMULATE
1-Feb-18
Price @ Call: 564.8
Target: 696
BUY
30-Jan-18
Price @ Call: 575.9
Target: 507.5
REDUCE
30-Jan-18
Price @ Call: 575.9
Target: 752.5
BUY
31-Jan-18
Price @ Call: 571.05
Target: 664
BUY
19-Jan-18
Price @ Call: 628.81
Target: 685
BUY
9-Jan-18
Price @ Call: 667.1
Target: 827.5
BUY

EMAMILTD Share Price Target - Broker Reports - 2017

3-Nov-17
Price @ Call: 622.52
Target: 677.5
BUY
30-Oct-17
Price @ Call: 629.48
Target: 648
BUY
26-Oct-17
Price @ Call: 580
Target: 717.5
BUY
8-Sep-17
Price @ Call: 559.73
Target: 658
BUY
22-Aug-17
Price @ Call: 551.13
Target: 658
BUY
3-Aug-17
Price @ Call: 567.5
Target: 655
BUY
4-Aug-17
Price @ Call: 568.5
Target: 610.5
BUY
3-Aug-17
Price @ Call: 570.5
Target: 650.5
BUY
24-Jul-17
Price @ Call: 552.5
Target: 700
BUY
13-Jul-17
Price @ Call: 536.5
Target: 632.5
BUY
8-May-17
Price @ Call: 540
Target: 625
BUY
5-May-17
Price @ Call: 542.5
Target: 601
BUY
30-Jan-17
Price @ Call: 1013.72
Target: 1231
BUY

EMAMILTD Share Price Target - Broker Reports - 2016

6-May-16
Price @ Call: 1046.25
Target: 970
SELL
31-Aug-16
Price @ Call: 1145
Target: 1425
BUY
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  • EMAMILTD Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3589.53
    Upside Target 2577.77
    Upside Target 1564.78
    Pivot553.02
    Downside Target 1540.03
    Downside Target 2528.27
    Downside Target 3515.28
  • EMAMILTD Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3591.05
    Upside Target 2575.25
    Upside Target 1562.6
    Pivot546.8
    Downside Target 1534.15
    Downside Target 2518.35
    Downside Target 3505.7
  • EMAMILTD Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3648.5
    Upside Target 2607.55
    Upside Target 1583.95
    Pivot543
    Downside Target 1519.4
    Downside Target 2478.45
    Downside Target 3454.85
  • EMAMILTD Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3577.77
    Upside Target 2568.31
    Upside Target 1562.47
    Pivot553.02
    Downside Target 1543.56
    Downside Target 2537.72
    Downside Target 3528.27
  • EMAMILTD Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3575.25
    Upside Target 2564.38
    Upside Target 1557.67
    Pivot546.8
    Downside Target 1535.93
    Downside Target 2529.22
    Downside Target 3518.35
  • EMAMILTD Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3607.55
    Upside Target 2582.89
    Upside Target 1567.66
    Pivot543
    Downside Target 1518.34
    Downside Target 2503.11
    Downside Target 3478.45
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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