The company currently boasts of brands namely Ujala, Maxo, Exo, Henko, Pril, Margo, Neem, Chek, and Mr White that are well known and well established in their respective categories.

Quarter consolidated results

In June 2019 quarter, net sales grew 2% to Rs 4422.53 crore. OPM improved 180 basis points to 15.5% which saw OP grow 16% to Rs 65.56 crore.

Other income stagnated at Rs 4.89 crore and interest fell 12% to Rs 8.00 crore. As depreciation grew 78% to Rs 12.49 crore, PBT went up 10% to Rs 49.96 crore.

EO loss was Rs 3.78 crore against NIL. Thus PBT after EO grew 2% to Rs 46.18 crore. As tax fell 26% to Rs 8.80 crore PAT grew 12% to Rs 37.38 crore.

FY 2019 results

For FY 2019, net sales grew 9% to Rs 1768.88 crore. OPM fell 90 basis points to 16.2% which saw OP grow 3% to Rs 286.32 crore.

Other income grew 1310% to Rs 27.83 crore and interest fell 34% to Rs 27.82 crore.

As depreciation grew 3% to Rs 58.29 crore, PBT went up 20% to Rs 228.04 crore.

EO gain was NIL against Rs 17.89 crore. Thus, PBT after EO grew 9% to Rs 228.04.

As tax fell 28% to Rs 34.33 crore PAT grew 21% to Rs 193.71 crore.

Strong results

During the quarter, sales from Fabric Care Division grew 5% to Rs 186.55 crore and accounted for 44% of sales. PBIT was down 3% to Rs 36.76 crore and accounted for 58% of total.

During the quarter, sales from Dishwashing Division grew 1% to Rs 134.26 crore and accounted for 32% of sales. PBIT was up 6% to Rs 16.08 crore and accounted for 25% of total.

During the quarter, sales from Household Insecticides Division fell 22% to Rs 25.34 crore and accounted for 6% of sales. PBIT loss was up 10% to Rs 5.18 crore and accounted for -8% of total.

During the quarter, sales from Personal Care Division grew 13% to Rs 59.71 crore and accounted for 14% of sales. PBIT jumped 57% to Rs 18.41 crore and accounted for 29% of total.

During the quarter, sales from Laundry Service Division grew 5% to Rs 9.89 crore and accounted for 2% of sales. PBIT loss fell 23% to Rs 2.25 crore and accounted for -4% of total.

During the quarter, sales from others fell 25% to Rs 6.78 crore and accounted for 2% of sales. PBIT loss fell 38% to Rs 37 lakh and accounted for -1% of total.

Management comments

Commenting on the performance M P Ramachandran, Chairman & Managing Director, Jyothy Labs said, "We have started this year with a positive outlook in spite of severe drought. The first quarter of this year has witnessed consumption slowdown however we do expect that the coming quarters will accelerate the growth of the business. We have been focusing on innovations and product differentiation and we believe that this will have a long term benefit for us."

Valuation

The stock trades at Rs 162.