Emami Ltd’s shares jumped about 5% on Thursday, rising from ₹514 to ₹538 on the NSE, after brokers turned optimistic about the company’s performance in the second half of fiscal 2026.
Brokers like Nuvama Institutional Equities said past slowdowns due to GST and product changes are over. With inventories back to normal, Emami is likely to see double-digit revenue growth. Its international business, which makes up around 18% of sales, is also expected to grow. Core product categories, which form 70% of sales, are forecasted to grow 5–7% annually, and Emami aims to increase direct-to-consumer sales from 6% today to 20% in the next 3–4 years.
Goldman Sachs has a ‘Buy’ rating with a target price of ₹825, expecting strong earnings over the next year, supported by stable demand, good winter season sales, and improved operations.
However, brokers warned of risks like competition in niche products, leadership changes, and seasonal demand fluctuations, which could affect earnings.
Investors see potential for gains if sales improve as expected, but should watch the coming quarters closely due to seasonal and market risks.
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