Credit Suisse has Outperform call on Emami Ltd. with a target price of Rs 1330.0. The current market price of Emami Ltd. is 1150.0. Time period given by analyst is year, when Emami Ltd. price can reach defined target. The company delivered best-in-industry organic volume growth of 6.5 per cent in 1Q17. The volume growth grew without resorting to consumer promotions as net pricing was positive 3 per cent. The big positive from the June quarter results was the pickup in Kesh King which is on course to deliver Rs 3bn in gross sales by FY17, said the Credit Suisse note. The interventions like the launch of the small pack, distribution expansion are helping sales, said the global investment bank which expects marginal EBITDA margin expansion of 30 bps in FY17.
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