Westlife Develop

WLDL has added 25-30 stores and restaurants on a gross basis in FY18. Company’s new initiative, Restaurant Operating Platform (ROP 2.0), is expected to bring down capex per store by 20%, thus, reducing cash breakeven period to 12-18 months from 24 mon...

Accumulate Reco. Price: 387.60

Coffee Day Enter

We expect company to maintain revenue growth and register 11% CAGR over FY18-20E supported by (a) launch of mobile app for better customer connect, (b) opening of 100-105 outlets per year and (c) expansion in home delivery services along with increased food...

Accumulate Reco. Price: 334.90

Britannia Inds.

Britannia enjoys a strong brand equity and market share of ~33% in Indian biscuit industry. Company’s focus on (a) fast growing premium and super premium biscuit categories, (b) product innovations (in non-biscuit category), (c) increasing direct ...

Accumulate Reco. Price: 5,433.00

Colgate-Palm.

CPIL is the market leader in the Indian oral care market driven by innovative and differentiated product offerings. However, we remain cautious given (a) the natural wave in the country, which would restrict the premiumisation focus, (...

Reduce Reco. Price: 1,107.10

Dabur India

Market share gains in select categories (especially in juices and toothpaste categories) and price cuts post GST are the near term volume triggers. Further, new product launches in hair care, fruit drink and ayurvedic segments will support volume growth...

Buy Reco. Price: 357.85

Emami

Emami derives revenues from more than 10 product segments, with none of them contributing more than 25% to revenues, thereby, providing significant diversification. Further, company’s focus on increasing direct reach and reducing dependency on who...

Buy Reco. Price: 1,125.00

Godfrey Phillips

Cigarette industry in India has been under pressure due to GST (de-stocking pre GST implementation and increased tax incidence post the GST implementation). Post GST implementation, company has undertaken price hikes in tandem with peers, ITC and VST Indust...

Buy Reco. Price: 880.35

Godrej Consumer

We expect an increase in the company’s profitability in the coming quarters owing to the multiple cost saving opportunities it is exploring. Additionally, the improving macro in Indonesia, Kenya, Nigeria, and Argentina is expected to result in pickup ...

Buy Reco. Price: 1,112.60

GlaxoSmith C H L

GSK Consumer Healthcare (GSKCH) enjoys ~71% market of malted foods category with its flagship brands, Horlicks and Boost (contributing ~91% to revenues). Driven by focus on product innovation coupled with premiumisation (hi-science products) and in...

Buy Reco. Price: 5,902.15

Hatsun AgroProd.

The company commands twice the PE multiple compared to Parag and Prabhat due to better procurement network (100% direct milk sourcing, 60-90% for peers), shorter cash conversion cycle due to high proportion of direct milk sales (70%; 30-40% for peers) and 1...

Buy Reco. Price: 758.20