|
The top-line for the March 2014 quarter has inclined by 20% to Rs 500.67 crore. The company continued to sustain its growth momentum driven by strong consumer centric brand initiatives. Both the feminine care and health care business posted double digit growth in competitive environment behind superior consumer propositions, strong initiatives and the strength of their portfolio. The launch of Old Spice is delivering in line with expectations, adding incremental sales and share growth. Strong margin growth was the result of focus on productivity across the major cost pool. OPM has inclined by 610 bps to 21.7%. The net profit has increased by 55% to Rs 80.76 crore due to top-line growth and expansion in operating margin.
Performance for the quarter ended March 2014
The top-line inclined by 20% to Rs 500.67 crore. The company continued to sustain its growth momentum driven by strong consumer centric brand initiatives. Both the feminine care and health care business posted double digit growth in competitive environment behind superior consumer propositions, strong initiatives and the strength of their portfolio. The launch of Old Spice is delivering in line with expectations, adding incremental sales and share growth.
Strong margin growth was the result of focus on productivity across the major cost pool. OPM has inclined by 610 bps to 21.7% due to fall in purchase in stock in trade by 740 bps to 14%, employee cost by 140 bps to 4.9%, and other expenses by 370 bps to 11.1% of adjusted net sales. However, there was rise in raw material cost by 430 bps to 26.2% along with ASP spend by 140 bps to 17% of adjusted net sales. As a result, the operating profit increased by 66% to Rs 108.89 crore.
Other income increased by 5% to Rs 15.91 crore. Depreciation has increased by 18% to Rs 8.94 crore. As a result, PBT has increased by 58% to Rs 115.64 crore.
The tax outgo inclined by 66% to Rs 34.88 crore. The effective tax rate increased from 28.7% to 30.2%. The net profit has increased by 55% to Rs 80.76 crore due to top-line growth and expansion in operating margin.
Performance for the nine months ended March 2014
The top-line inclined by 24% to Rs 1564.84 crore. OPM has inclined by 380 bps to 17.8% due to fall in raw material cost by 240 bps to 26.8%, purchase in stock in trade by 60 bps to 13.3%, employee cost by 60 bps to 4.8% and ASP spend by 100 bps to 16.6% of adjusted net sales. As a result, the operating profit increased by 57% to Rs 278.59 crore.
Other income increased by 12% to Rs 59.81 crore. Depreciation has increased by 17% to Rs 25.8 crore. As a result, PBT has increased by 49% to Rs 312.36 crore.
The tax outgo inclined by 74% to Rs 100.24 crore. The effective tax rate increased from 27.6% to 32.1%. The net profit has increased by 40% to Rs 212.12 crore due to top-line growth and expansion in operating margin.
Promoters holding and valuation
The promoters hold 70.64% stake in the company
The shares of the company are trading around Rs 3650 at BSE.
|