P&G Hygiene - Focusing On Sustainable Growth; Rich Valuation Limits Upside: Motilal Oswal

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.During the analyst meet, the management highlighted:potential for double-digit sales growth, particularly in the feminine hygiene segment, in which per-capita spending is currently only one-sixth of that in China; the possibility of accelerating revenue growth following a 1.5 times increase in distribution reach compared to three years ago;growing momentum in new portfolio innovations such as Whisper Ultra hygiene products and Vicks Roll-On for headaches; andcost savings to continue (savings of Rs 1.13 billion in FY24, ~3% of sales). .P&G has delivered sales/Ebitda/adjusted profit after tax growth of 8%/13%/15% in FY24. Gross margin expanded by 400bp YoY to 61.6% during the year, out of which 260 bp was reinvested in advertising and promotion (up 33 % YoY in FY24). Ebitda margin moderated by 120 bp YoY to 23.4%.The company has delivered growth over the years through a strong portfolio of products, superior packaging, brand communication, and retail execution. It has delivered a CAGR of 7%/10%/11% in sales/Ebitda/ APAT over FY19-24. Ebitda margin has improved by ~270 bp over the same period. The stock trades at an expensive valuation of 62 times/54 times FY25E/FY26E EPS. We reiterate Neutral rating on the stock..Click on the attachment to read the full report:.Interglobe Aviation - Optimistic Business Outlook: Motilal Oswal.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

P&G Hygiene - Focusing On Sustainable Growth; Rich Valuation Limits Upside: Motilal Oswal

The stock trades at an expensive valuation of 62 times/54 times FY25E/FY26E EPS, the brokerage reiterates Neutral rating on the stock.

NDTV Profit

NDTV Profit

Follow Us

DOWNLOAD THE APP

P&G Hygiene - Focusing On Sustainable Growth; Rich Valuation Limits Upside: Motilal Oswal

The stock trades at an expensive valuation of 62 times/54 times FY25E/FY26E EPS, the brokerage reiterates Neutral rating on the stock.

Choose a plan

Follow Us

DOWNLOAD THE APP