{"id":8183,"date":"2015-09-10T11:52:21","date_gmt":"2015-09-10T06:22:21","guid":{"rendered":"https:\/\/blog.fundsindia.com\/blog\/?p=8183"},"modified":"2015-09-10T11:54:19","modified_gmt":"2015-09-10T06:24:19","slug":"dabur-india-ltd","status":"publish","type":"post","link":"https:\/\/www.fundsindia.com\/blog\/equities\/dabur-india-ltd\/8183","title":{"rendered":"Dabur India Ltd."},"content":{"rendered":"<p style=\"text-align: justify;\">Established in 1884, Dabur India Ltd. is India\u2019s oldest and fourth largest FMCG\u00a0Company with a total turnover of Rs. 7,806 Crores. It operates in key consumer\u00a0product categories viz; Hair Care, Oral Care, Health Care, Skin Care, Home Care\u00a0and Foods.<\/p>\n<p style=\"text-align: justify;\"><strong>Valuation and view<\/strong><\/p>\n<p style=\"text-align: justify;\">We expect Dabur to benefit from the revival of its brand\u00a0image and enhanced rural reach. It is also well placed to\u00a0benefit from its innovative brand offerings. The company\u00a0generates ~8% of free cash flow to sales each year and\u00a0has been increasing earnings at \u00a015%-20% annually over\u00a0the past eight years. We expect the top-line to grow at a\u00a0CAGR of 8% by FY17E.<\/p>\n<p style=\"text-align: justify;\">At the current market price (CMP) of Rs. 277, the stock\u00a0trades at a P\/E multiple of 40.1x FY16E and 31.4x FY17E.\u00a0We recommend \u2018BUY\u2019 with a target price of Rs. 344, assigning a forward P\/E multiple of 39x, which implies a\u00a0potential upside of ~24% to the CMP from 12 months\u00a0perspective.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2015\/09\/Research-Report-Dabur-India-Ltd-Old.pdf\">Research Report Dabur India Ltd<\/a><\/p>\n<p style=\"text-align: justify;\"><i>Investments in equity shares, debentures, etc., are not obligations of, or guaranteed by Wealth India Financial Services Pvt. Ltd., and are subject to investment risks.\u00a0<a href=\"http:\/\/pages.fundsindia.com\/pages\/disclaimer-equities\/\">Click here<\/a>\u00a0to read our full disclaimer.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Established in 1884, Dabur India Ltd. is India\u2019s oldest and fourth largest FMCG\u00a0Company with a total turnover of Rs. 7,806 Crores. It operates in key consumer\u00a0product categories viz; Hair Care, Oral Care, Health Care, Skin Care, Home Care\u00a0and Foods. Valuation and view We expect Dabur to benefit from the revival of its brand\u00a0image and enhanced [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dabur India Ltd.<\/title>\n<meta name=\"description\" content=\"Find the latest research report on Dabur India LTd. 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