Hold Bajaj Consumer Care, target price Rs 178: Sharekhan by BNP Paribas

Sharekhan by BNP Paribas has hold call on Bajaj Consumer Care with a target price of Rs 178. The current market price of Bajaj Consumer Care is Rs 166.2.

Bajaj Consumer Care, incorporated in the year 2006, is a Mid Cap company (having a market cap of Rs 2454.33 Crore) operating in FMCG sector.

Bajaj Consumer Care key Products/Revenue Segments include Personal Care and Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 239.94 Crore, down -.98 % from last quarter Total Income of Rs 242.32 Crore and up .67 % from last year same quarter Total Income of Rs 238.34 Crore. Company has reported net profit after tax of Rs 33.20 Crore in latest quarter.

The company’s top management includes Mr.Kushagra Nayan Bajaj, Mr.Jaideep Nandi, Mr.Sumit Malhotra, Ms.Lilian Jessie Paul, Mr.Aditya Vikram Ramesh Somani, Mr.Dilip Cherian, Mr.Gaurav Dalmia. Company has Sidharth N Jain & Co. as its auditors. As on 31-12-2022, the company has a total of 15 Crore shares outstanding.

Investment Rationale
Sharekhan has reduced its earnings estimates forFY2023/24/25E to factor in lower sales volume and lower-than-earlier-expected OPM.

Promoter/FII Holdings
Promoters held 38.04 per cent stake in the company as of 31-Dec-2022, while FIIs owned 11.31 per cent, DIIs 18.62 per cent.