DINESH

Emami Ltd

Industry: Personal Care
Latest CMP 379
Today's Change ▼ -0.52%
52-Week High / Low 547 | 364
Price Date: 30-Sep-2026
Recommendation Buy
Target Price 492
Expected Upside 14.0%
Forecast Horizon 2 Years
Historical CAGR 14.1%
1,000 Invested 01-Oct-2006
Today's Value 13,983
Investment Period 20 Years

Stock Snapshot

Post Results Return
-5.9%
Mild Negative Re-rating
1-Year Target Price
453
2-Year Target Price
492
52-Week High / Low
547 / 364
20-Day Return
+2.9%
Market Cap (Cr.)
16,546
Current PE
24.2
P/BV Ratio
5.7
Dividend Yield
1.9%
Industry PE
35.8

Price Performance

Vista Outlook

Basis of our Recommendation

Emami Ltd is currently navigating a transitional phase marked by strategic investments and a focus on high-margin growth areas, such as personalized beauty and wellness. Management's commentary highlights a cautious optimism, driven by a recovery in domestic revenue and a pivot towards organized retail and quick commerce. However, the company faces margin pressures due to elevated input costs and geopolitical instability affecting its international operations. Vista's financial outlook reflects an expected revenue recovery, with a target price of ₹450, indicating an upside of approximately 11.57%. The anticipated margin recovery hinges on successful integration of recent acquisitions and stabilization of supply chains. Industry dynamics, including improving pricing power and strong brand loyalty, support Emami's growth trajectory, although the mature market presents challenges. Over the next 12-24 months, key opportunities include leveraging digital capabilities and expanding into underpenetrated markets, while watchpoints include potential execution risks and ongoing inflationary pressures

👍 Why We Like This Stock

  • Strategic investments in high-margin segments like personalized beauty and wellness are expected to drive future growth
  • Recovery in domestic revenue, supported by strong brand loyalty and a shift towards organized retail, enhances market positioning
  • Management's focus on digital capabilities and e-commerce expansion presents significant growth opportunities

⚠ Things To Watch Out For

  • Margin pressures persist due to elevated input costs and geopolitical instability affecting international operations
  • Execution risks related to the integration of recent acquisitions could impact profitability
  • The mature market limits rapid growth opportunities, necessitating constant adaptation to changing consumer preferences

Key Parameters

Balance Sheet Strength
Conservatively Financed
Market Share
Stable
Industry Outlook
Improving
Analyst View
Strong Buy
Dividend History
Consistent
FII Holdings
Reducing

Financial Snapshot

View Technicals Analysis →
Actuals Forecast
FY24 FY25 FY26 FY27 FY28
Revenue (Cr.) 3,578 3,809 3,780 4,139 4,451
Profit Before Tax (Cr.) 776 856 856 915 1,007
PBT Margin 21.7% 22.5% 22.6% 22.1% 22.6%
Net Profit (Cr.) 711 768 682 732 805
Earnings Per Share 16.3 17.7 15.6 16.8 18.4

Analyst Recommendations

Broker Recommendation Target Price Date
Goldman Sachs ▲ Buy 625 17-Sep-2026
Moneycontrol ▲ Overweight nan 17-Aug-2026
Axis Securities ▲ Buy 550 07-Aug-2026
ICICI Securities ► Add 420 05-Aug-2026
Prabhudas Liladhar ► Hold 443 05-Aug-2026
BNP Paribas ▲ Buy 520 09-Jul-2026
Anand Rathi ▲ Buy 640 27-May-2026
Elara Capital ▲ Buy 530 22-May-2026
Jeffries ▲ Buy 620 22-May-2026
Consensus Recommendation ▲ Strong Buy
Consensus Target 542
Coverage 9 Analysts
Analysts' Viewpoint
Emami is in a transitional phase, focusing on strategic investments and portfolio diversification to drive growth. The company is capitalizing on high-growth assets like Axiom Ayurveda and IncNut Digital, while expanding into organized retail and quick commerce to capture premium consumer segments. Despite strong domestic momentum, Emami faces challenges from geopolitical instability in West Asia, input cost inflation, and integration-related expenses. Future growth is contingent on stabilizing international supply chains and successful integration of acquisitions, with expectations for margin recovery as these factors normalize.

Company Overview

Show Company Profile

Emami Limited, together with its subsidiaries, manufactures and markets personal and healthcare products in India and internationally. The company offers antiseptic creams, body lotions, soaps, aloe vera gels, petroleum jellies, prickly heat powders, and all-season creams under the BoroPlus brand; cool oils and talcs under the Navratna brand; ayurvedic products for pain management, immunity, digestive health, and bone and joint health, as well as pain balms, healthcare, generics, and ethical products under the Zandu brand; ayurvedic medicinal oils, shampoos, and conditioners under the Kesh King brand; and brightening creams, brightening face washes, and oil clear face washes for men under the Smart And Handsome brand. It also provides pain balms under the Emami Mentho Plus brand; light hair oils under the Emami 7 Oils in One brand; prickly heat powders and sprays, soaps, and shower gels under the Dermicool brand; German skincare products under the Creme 21 brand; deodorants, eau de toilettes, shampoos, face and body washes, and shower gels under the HE brand; body sprays and perfumes, as well as face, hair, body, beard, and shaving products under The Man Company brand; and face serums, oil shots, powder face washes, and hair and pure oils under the Brillare brand. In addition, the company offers brightening creams under the Emami Pure Glow brand; cold creams under the Emami Malai Kesar Cold Cream brand; talcs under the Emami Golden Beauty Talc brand; fairness creams under the Emami Naturally Fair brand; hair colors under the Emami Diamond Shine brand; ayurvedic and science-led personalized hair and skin products under the Vedix brand; and aloe-based fruit beverages under the Alo Frut brand. It exports its products. The company was founded in 1974 and is headquartered in Kolkata, India.