For
the quarter ending March 2024, consolidated Net sales (including other operating income) of Emami has increased 6.61% to Rs 891.24 crore compared to quarter ended March 2023. Sales of Within India segment has gone up 6.60% to Rs 714.32 crore (accounting for 80.15% of total sales). Sales of Outside India segment has gone up 6.67% to Rs 176.92 crore (accounting for 19.85% of total sales). Operating profit margin has declined from 23.90% to 23.67%, leading to 5.59% rise in operating profit to Rs 210.98 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 21.74% to 20.77%. Purchase of finished goods cost fell from 16.07% to 14.22%. Employee cost decreased from 10.85% to 10.03%. Other expenses rose from 27.80% to 31.58%. Selling and administration expenses rose from 15.28% to 19.98%. Other income fell 22.18% to Rs 10.7 crore. PBIDT rose 3.80% to Rs 221.68 crore. Provision for interest rose 110.22% to Rs 2.88 crore. Loan funds rose to Rs 93.95 crore as of 31 March 2024 from Rs 90.51 crore as of 31 March 2023. Inventories declined from Rs 328.04 crore as of 31 March 2023 to Rs 323.40 crore as of 31 March 2024. Sundry debtors were higher at Rs 494.21 crore as of 31 March 2024 compared to Rs 414.60 crore as of 31 March 2023. Cash and bank balance rose to Rs 201.38 crore as of 31 March 2024 from Rs 184.75 crore as of 31 March 2023. Investments rose to Rs 441.54 crore as of 31 March 2024 from Rs 293.36 crore as of 31 March 2023 .
PBDT rose 3.12% to Rs 218.8 crore. Provision for depreciation fell 24.96% to Rs 48 crore. Fixed assets declined from Rs 1,183.48 crore as of 31 March 2023 to Rs 1,052.99 crore as of 31 March 2024. Intangible assets stood at Rs 68.19 crore.
Profit before tax grew 15.23% to Rs 170.80 crore. Share of profit/loss was 348.57% lower at Rs -1.57 crore. Provision for tax was expense of Rs 22.48 crore, compared to Rs 6.25 crore. Effective tax rate was 13.28% compared to 4.23%.
Minority interest increased 23.49% to Rs -2.15 crore. Net profit attributable to owners of the company increased 3.09% to Rs 148.90 crore. Equity capital decreased from Rs 44.12 crore as of 31 March 2023 to Rs 43.65 crore as of 31 March 2024 . Per share face Value remained same at Rs 1.00.
Promoters’ stake was 54.84% as of 31 March 2024 ,compared to 54.27% as of 31 March 2023 . Promoters pledged stake was 13.09% as of 31 March 2024 ,compared to 40.12% as of 31 March 2023 .
Full year results analysis.
Net sales (including other operating income) of Emami has increased 5.06% to Rs 3578.09 crore. Sales of Within India segment has gone up 4.40% to Rs 2,958.63 crore (accounting for 82.69% of total sales). Sales of Outside India segment has gone up 8.36% to Rs 619.46 crore (accounting for 17.31% of total sales). Operating profit margin has jumped from 25.33% to 26.54%, leading to 10.06% rise in operating profit to Rs 949.53 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 24.48% to 21.39%. Purchase of finished goods cost rose from 10.08% to 11.33%. Employee cost increased from 10.92% to 11.01%. Other expenses rose from 28.91% to 29.84%. Selling and administration expenses rose from 16.64% to 18.15%. Other income fell 32.11% to Rs 46.8 crore. PBIDT rose 6.94% to Rs 996.33 crore. Provision for interest rose 35.05% to Rs 9.98 crore. Loan funds rose to Rs 93.95 crore as of 31 March 2024 from Rs 90.51 crore as of 31 March 2023. Inventories declined from Rs 328.04 crore as of 31 March 2023 to Rs 323.40 crore as of 31 March 2024. Sundry debtors were higher at Rs 494.21 crore as of 31 March 2024 compared to Rs 414.60 crore as of 31 March 2023. Cash and bank balance rose to Rs 201.38 crore as of 31 March 2024 from Rs 184.75 crore as of 31 March 2023. Investments rose to Rs 441.54 crore as of 31 March 2024 from Rs 293.36 crore as of 31 March 2023 .
PBDT rose 6.71% to Rs 986.35 crore. Provision for depreciation fell 24.81% to Rs 185.9 crore. Fixed assets declined from Rs 1,183.48 crore as of 31 March 2023 to Rs 1,052.99 crore as of 31 March 2024. Intangible assets stood at Rs 68.19 crore.
Profit before tax grew 18.23% to Rs 800.45 crore. Share of profit/loss was 50.40% higher at Rs -3.72 crore. Provision for tax was expense of Rs 66.69 crore, compared to Rs 42.14 crore. Effective tax rate was 8.43% compared to 6.29%.
Net profit attributable to owners of the company increased 13.13% to Rs 723.53 crore.
Equity capital decreased from Rs 44.12 crore as of 31 March 2023 to Rs 43.65 crore as of 31 March 2024 . Per share face Value remained same at Rs 1.00.
Promoters’ stake was 54.84% as of 31 March 2024 ,compared to 54.27% as of 31 March 2023 . Promoters pledged stake was 13.09% as of 31 March 2024 ,compared to 40.12% as of 31 March 2023 .
Other Highlights
In Q4 FY24,
Domestic Business grew by 8%, International Business grew by 8% with a constant currency growth of 9% on YoY basis.
Overall, the Company launched more than 50
products and variants in the Domestic and International market in FY24 with
majority being Digital first products.
In Q4 FY24, Pain
Management Range grew by 9%, Navratna Range grew 1%, BoroPlus Range increased
33%, Kesh King Range down 9%, Male Grooming Range fell 2% and Healthcare Range up
by 10% on YoY basis.
In terms of