Rural growth

Dabur remains a top pick in the Consumer Goods sector for Emkay Global due to its diversified portfolio and strong execution. The company’s focus on rural growth remains firm, with distribution expansion showing robust progress. Dabur’s strategy of expanding the Total Addressable Market (TAM) across brands with well-supported category extensions through distribution and marketing continues to yield positive results. Emkay Global maintains a BUY rating on Dabur, with a target price of ₹700 per share by June 2025, based on a 46x P/E multiple. The brokerage expects Dabur to achieve a compound annual growth rate (CAGR) of 10% in sales and 15 per cent in earnings over FY24-27.