|
The consolidated top-line for December 2016 quarter inclined by 3% to Rs 383.91 crore. Volume grew by 3.6%. Q3 Impacted by demonetization. Total standstill situation for two weeks of wholesale markets in November. 40% of total sales come from wholesale chain on All India basis. Overall demand getting back to normal. Business operations through wholesale channel in North and East still remains challenging. OPM has declined by 60 bps to 13.2%. The net profit after considering MI has increased by 7% to Rs 21.51 crore due to fall in effective tax rate.
Management Comments
Commenting on the performance, Mr. M P Ramachandran – Chairman & Managing Director
The business during the quarter was impacted by the demonetization drive. While wholesale trade was at total standstill for two weeks, our share from modern trade increased significantly as traders introduced a slew of cashless options for consumers.
The company also switched its production plans to maximize small SKU's besides rolling out a national plan with channel partners to drive sales and improve servicing.
As we enter last quarter of FY17, the demand situation has started getting back to normal. We will continue with our strategy of investing in marketing and on ground activities to improve our market share and the company is committed of delivering growth ahead of industry.
Consolidated performance for the quarter ended December 2016
The top-line inclined by 3% to Rs 383.91 crore. Volume grew by 3.6%. Q3 Impacted by demonetization. Total standstill situation for two weeks of wholesale markets in November. 40% of total sales come from wholesale chain on All India basis.
Overall demand getting back to normal. Business operations through wholesale channel in North and East still remains challenging
OPM has declined by 60 bps to 13.2% due to incline in employee cost and other expenditures. As a result, the operating profit decreased by 1% to 50.66 crore.
Other income increased by 7% to Rs 2.57 crore. Interest cost decreased by 4% to Rs 14.44 crore. Depreciation has decreased by 1% to Rs 7.34 crore. The profit before tax was flat at Rs 31.45 crore.
The tax outgo declined by 11% to Rs 10.79 crore. The effective tax rate declined from 38.6% to 34.3%. The net profit after considering MI has increased by 7% to Rs 21.51 crore due to fall in effective tax rate.
Consolidated performance for nine months ended December 2016
The top-line inclined by 6% to Rs 1236.79 crore. Volume grew by 7.5%. OPM has inclined by 200 bps to 15.7%. The operating profit increased by 22% to Rs 193.84 crore.
Other income decreased by 21% to Rs 8.55 crore. Interest cost flat at Rs 46.58 crore. Depreciation has increased by 2% to Rs 21.74 crore. The profit before tax increased by 31% to Rs 134.07 crore.
The tax outgo declined by 4% to Rs 37.36 crore. The effective tax rate declined from 38.3% to 27.9%. The net profit after considering MI has increased by 51% to Rs 99.44 crore due to rise in OPM and fall in effective tax rate.
Consolidated Segmented Result
Dishwashing
The revenue grew by 3% to Rs 125.41 crore for Q3 FY17. PBIT margins increased by 80 bps to 9.9%. PBIT had increased by 12% to Rs 12.4 crore.
Pril liquid sales was flat at Rs 22.55 crore. Its marketshare stood at 17.7% for Q2 FY17. Pril Bar sales grew by 11% to Rs 8.04 crore.
Exo franchise grew by 1.5% to Rs 76.06 crore.
The revenue grew by 8% to Rs 389.34 crore for 9M FY17. PBIT margins increased by 260 bps to 13.2%. PBIT had increased by 35% to Rs 51.49 crore.
Fabric Care
The revenue grew by 10% to Rs 172.94 crore for Q3 FY17. PBIT margins decreased by 60 bps to 18.2%. PBIT had increased by 7% to Rs 31.4 crore.
Ujala brand grew by 7.5% to Rs 98.3 crore. Ujala Supreme has registered growth of 1% to Rs 64.10 crore. Ujala Detergent grew by 25% to Rs 20.79 crore. Ujala Crisp & Shine grew by 20% to Rs 12.54 crore. Ujala Crisp & Shine will be Rs 100 crore brand in FY18.
Henko franchise grew by 20% to Rs 43.58 crore
The revenue grew by 8% to Rs 555.93 crore for 9M FY17. PBIT margins increased by 240 bps to 20.3%. PBIT had increased by 23% to Rs 112.73 crore
Household Insecticides
The revenue de-grew by 15% to Rs 45.3 crore for Q3 FY17. PBIT margins decreased by 490 bps to 1%. PBIT had decreased by 86% to Rs 0.45 crore
The revenue de-grew by 6% to Rs 150.09 crore for 9M FY17. PBIT margins decreased by 110 bps to 1.4%. PBIT had decreased by 46% to Rs 2.12 crore
Personal Care
The revenue de-grew by 1% to Rs 33.99 crore for Q3 FY17. PBIT margins decreased by 650 bps to 13.8%. PBIT had decreased by 32% to Rs 4.7 crore.
Margo sales de-grew by 6% to Rs 27.91 crore. Core re-launch in March 2017.
The revenue grew by 5% to Rs 126.34 crore for 9M FY17. PBIT margins decreased by 20 bps to 18.7%. PBIT had increased by 4% to Rs 23.67 crore.
Laundry Service
The revenue de-grew by 1% to Rs 12.88 crore for Q3 FY17. The loss at PBIT stood at Rs 2.32 crore.
The revenue grew by 4% to Rs 38.02 crore for 9M FY17. The loss at PBIT stood at Rs 8.18 crore.
Others
The others revenue grew by 25% to Rs 9.52 crore for Q3 FY17. PBIT margins stood at 6.7%. PBIT stood at Rs 0.64 crore.
The others revenue grew by 32% to Rs 28.62 crore for 9M FY17. PBIT margins increased by 160 bps to 3%. PBIT had increased by 183% to Rs 0.85 crore.
Promoters holding and valuation
The promoters hold 66.92% stake in the company
The shares of the company are trading around Rs 344.70 at BSE.
|