Macquarie has maintained a ‘Neutral’ rating on Dabur with a target price of ₹560/share, indicating a potential upside of 6.9% from the current market price (CMP) of ₹524.00.
The Q3 results showed low single-digit consolidated sales growth and flat year-on-year (YoY) EBITDA. Healthcare sales remained flat, while muted performance in the beverages segment drove weaker sales overall. The EBITDA margin also declined YoY due to inflationary pressures, reflecting cost challenges faced by the company.
Macquarie notes that while sales remain under pressure, inflation remains a critical factor influencing profitability in the near term.
Disclaimer: The above analysis is based on inputs provided and is for informational purposes only. It does not constitute financial advice. Readers are advised to consult their financial advisors before making any investment decisions.
