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 results

In September 2018 quarter, net sales grew 7% to Rs 427.69 crore. OPM improved 90 basis points to 17.1% which saw OP grow 13% to Rs 73.15 crore.

Other income fell 60% to Rs 4.67 crore and interest fell 32% to Rs 7.05 crore.

As depreciation grew 1% to Rs 13.88 crore, PBT went up 9% to Rs 56.89 crore.

As tax jumped 18% to Rs 11.55 crore PAT grew 7% to Rs 45.34 crore.

Six months results

For the six months, net sales grew 12% to Rs 830.26 crore. OPM improved 130 basis points to 15.8% which saw OP grow 22% to Rs 131.44 crore.

Other income fell 30% to Rs 9.54 crore and interest fell 22% to Rs 14.76 crore.

As depreciation fell 1% to Rs 27.66 crore, PBT went up 32% to Rs 98.56 crore.

As tax jumped 74% to Rs 20.84 crore PAT grew 24% to Rs 77.72 crore. 

Strong growth across segments

During the quarter, sales from Dishwashing Division grew 11% to Rs 170.57 crore and accounted for 40% of sales. PBIT was down 12% to Rs 29.00 crore and accounted for 44% of total.

During the six months, sales from Dishwashing Division grew 7% to Rs 346.23 crore and accounted for 42% of sales. PBIT was down 2% to Rs 61.91 crore and accounted for 52% of total.

Dishwashing includes Dish wash scrubber, scrubber steel, dish wash bar, liquid and powder.

During the quarter, sales from Fabric Care Division grew 14% to Rs 142.74 crore and accounted for 33% of sales. PBIT was up 6% to Rs 17.96 crore and accounted for 27% of total.

During the six months, sales from Fabric Care Division grew 17% to Rs 275.56 crore and accounted for 33% of sales. PBIT was up 35% to Rs 32.01 crore and accounted for 27% of total.

Fabric Care includes fabric whitener, fabric enhancer, bar soap and detergent powder.

During the quarter, sales from Household Insecticides Division fell 20% to Rs 49.81 crore and accounted for 12% of sales. PBIT was up 84% to Rs 5.25 crore and accounted for 8% of total.

During the six months, sales from Household Insecticides Division fell 9% to Rs 82.12 crore and accounted for 10% of sales. PBIT stood at 53 lakh against a loss of Rs 2.63 crore and accounted for NIL of total.

Household Insecticides includes mosquito repellent coil, liquid, card and insect repellents

During the quarter, sales from Personal Care Division grew 6% to Rs 51.33 crore and accounted for 12% of sales. PBIT jumped 50% to Rs 14.52 crore and accounted for 22% of total.

During the six months, sales from Personal Care Division grew 12% to Rs 104.05 crore and accounted for 13% of sales. PBIT jumped 115% to Rs 24.31 crore and accounted for 21% of total.

Personal Care includes body soap, face wash, toothpaste, deo classic, talcum powder, after shave and moisturizer

Valuation

The stock trades at Rs 182.