Emami is grooming for a better future, but can growth catch up?

Emami Ltd is tweaking its playbook to stay ahead. Discretionary segments, comprising Kesh King, Smart and Handsome, and digital brands, remain a weak link with sluggish volume growth. Smart and Handsome is banking on category extensions, while The Man Company is cutting back on promotional spending to restore growth from Q4FY25. “Our on-ground checks suggest a change in the company’s stand with respect to trade stocking, where the focus is to not burden trade ahead of the season but offer incentives over the season rather than pre-loading," said Emkay Global Financial Services. Emkay Global expects better growth under the company’s proficient team, a rebound in rural growth, increased thrust on urban, and favourable seasonality.