Emami Q4 Review - Stellar Performance Continues: Dolat Capital
Emami Ltd.’s Q4 FY21 results were ahead of our estimates. Domestic business jumped 44%, while international business posted 28% revenue growth in Q4. Boroplus jumped five times (77% decline in Q4 FY20) as supply led constraints are addressed completely. The company launched 40 plus new products during FY21. New products development contributes 4% of domestic revenues. International business posted 28% growth driven by 14% increase in SAARC and 53% growth in Middle East, North Africa, Afghanistan, and Pakistan.