FMCG major Dabur reported a better-than-expected results in Q2. It posted a revenue of Rs 2,500 crore versus the CNBC-TV18 poll of Rs 2,300, it grew at 13.50 percent. The EBITDA grew at 16 percent, the net profit grew 19 percent and volumes grew at 16.8 percent.

Abneesh Roy, Executive Vice President institutional equities at Edelweiss Securities, said, “This is a strongest set of results and way ahead of our and street expectation. So 16.8 percent domestic volume growth, till now Marico and Britannia Industries were on the higher side, but this clearly has beaten the hands down.”

“My sense is some upgrades will be there after we hear from management. If you see this results and the way forward rural recovery, Dabur has got 40-45 percent of the business coming from the rural India and health and hygiene clearly is the strong focus of the customer and till vaccines comes I think these are going to continue. So we have a price target which will definitely get upgraded because of the earnings. We currently have around Rs 550, but we do see upsides. When we publish our report there will be upgrade to our numbers because of the beat.”

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(Edited by : Bivekananda Biswas)

First Published:Nov 3, 2020 3:45 PM IST