Tuesday 4 November 2008

Reduce Dabur India: IIFL

IIFL has recommended reduce rating on Dabur India, in its November 04, 2008 report. "Dabur India's 2QFY09 results were broadly in line with our expectation. Pre exceptional net profit grew 12.2% YoY (estimated growth of 12.6%) whereas profit growth adjusted for retail business losses was higher at 17% YoY. Sales grew 18% YoY, ahead of our estimate of 15% growth, buoyed by international business revenues, which were up 40%. Underlying volumes grew by 10%. EBITDA margins were down 180bps on account of retail business losses and higher advertising costs. Continued slowdown in Dabur’s domestic FMCG business in oral care and foods categories is an area of concern. Reduce," says IIFL's research report.

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Source: Moneycontrol

Posted by Harsh at 09:59

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