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The top-line for June 2017 quarter declined by 15% to Rs 407.60 crore behind volatile trade conditions. The market is started showing signs of recovery and the company will continue to focus on balanced growth behind brand fundamentals, strength of product portfolio and improved in store execution. There was decrease in grooming segment revenue by 16% to Rs 340.96 crore behind market challenges. Oral care inclined by 20% to Rs 96.63 crore behind market challenges and portfolio optimization. OPM has inclined by 120 bps to 16.5%. The net profit has decreased by 20% to Rs 37.67 crore
Performance for the quarter ended June 2017
The top-line declined by 15% to Rs 407.60 crore behind volatile trade conditions. The market is started showing signs of recovery and the company will continue to focus on balanced growth behind brand fundamentals, strength of product portfolio and improved in store execution.
There was decrease in grooming segment revenue by 16% to Rs 340.96 crore behind market challenges. Oral care inclined by 20% to Rs 96.63 crore behind market challenges and portfolio optimization.
OPM has inclined by 120 bps to 16.5% due to decline in raw material cost to adjusted net sales. The operating profit decreased by 8% to Rs 67.22 crore.
PBIT of grooming segment has decreased by 47% to Rs 31.8 crore due to decreased in PBIT margin by 560 bps to 9.3%. PBIT of oral care segment stood at Rs 21.29 crore. PBIT margin stood at 22%.
Other income decreased by 38% to Rs 4.90 crore. Interest cost increased by 111% to Rs 2.68 crore. Depreciation has increased by 59% to Rs 13.51 crore. The PBT has decreased by 21% to Rs 55.93 crore.
The tax outgo declined by 23% to Rs 18.26 crore. The effective tax rate declined from 33.3% to 32.8%. The net profit has decreased by 20% to Rs 37.67 crore
Performance for year ended June 2017
The top-line inclined by 1% to Rs 1733.60 crore despite challenges of liquidity crunch in Q2 and trade destocking ahead of GST in Q4. OPM has inclined by 460 bps to 22%. The operating profit increased by 25% to Rs 381.59 crore.
Other income increased by 6% to Rs 37.82 crore. Interest cost increased by 21% to Rs 6.74 crore Depreciation increased by 27% to Rs 38.35 crore. The PBT has increased by 23% to Rs 374.32 crore due to expansion in OPM.
The tax outgo inclined by 14% to Rs 121.24 crore. The effective tax rate declined from 34.8% to 32.4%. The net profit has increased by 27% to Rs 253.08 crore due to OPM expansion.
Other Developments
The Board of Directors of the Company has declared an final dividend of Rs. 10/- per Equity Share.
Promoters holding and valuation
The promoters hold 75% stake in the company
The shares of the company are trading around Rs 5260 at BSE.
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