ICICI Securities Recommends Adding Emami with a Target Price of Rs 600

ICICI Securities has issued an “add” call on Emami, setting a target price of Rs 600. Currently, Emami Ltd. is trading at Rs 542.45 in the market.

Emami Ltd., established in 1983, is a mid-cap company operating in the FMCG (Fast-Moving Consumer Goods) sector, with a market capitalization of Rs 23741.06 Crore.

Emami Ltd.’s primary products and revenue segments include personal care and other operating revenue for the fiscal year ending on March 31, 2022.

In terms of financials, for the quarter ending on June 30, 2023, the company reported a consolidated total income of Rs 833.94 Crore, reflecting a slight decrease of -1.85% from the total income of Rs 849.70 Crore in the previous quarter. However, there was a 6.29% increase from the total income of Rs 784.62 Crore in the same quarter the previous year. The company recorded a net profit after tax of Rs 137.25 Crore in the latest quarter.

As of June 30, 2023, the promoters held a 54.52% stake in the company, while foreign institutional investors (FIIs) owned 11.46%, and domestic institutional investors (DIIs) held 26.21%.

Investors may consider this “add” call from ICICI Securities when evaluating their investment decisions. The target price of Rs 600 suggests potential growth for Emami in the future. However, it’s important to conduct thorough research and consider your own financial goals and risk tolerance before making any investment decisions.

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​
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