Jyothy Laboratories -
Q3 FY 24 concall highlights -
Sales - 678 vs 613 cr ( up 10 pc- all volume led despite overall sluggish demand trends for FMCG industry )
EBITDA - 119 vs 84 cr ( margins @ 18 vs 14 pc - due fall in RM prices )
PAT - 91 vs 67 cr ( up 35 pc )
Fabric Care sales - up 11 pc ( includes wash and post wash categories ). Liquid detergents growing at a fast clip - both Henko, Ujwala liquids
Dishwasher sales - up 7 pc
Household Insecticides sales - up 5 pc ( category facing headwinds for quite some time now ). Company focussed on selling Maxo - liquids. Onboarded - new brand ambassador - Kareena Kapoor for the brand
Personal care sales - up 22 pc !!! ( Margo - new variants did very well )
Have been investing aggressively in expanding distribution depth and alternate distribution channels
Company is aiming to do a topline of 5000 cr in 4-5 yrs
Not focussed on M&A activity at the moment - at the same time, not averse to it ( primary focus is on organic growth )
Henko - liquids growing at rates much higher than category growth
Have slowly started taking - Ujala, Moonlight, Mr White detergents to more and more states
Company was distributing to 11 lakh retail outlets in Mar 23. Aim to hit 12 lakh outlets by Mar 24. This should help volume growth going forward
E-Commerce sales as a percentage of company’s sales at 6 odd pc
Company has worked a lot on the Margo brand, have innovated and launched new variants. Still lot of scope for this brand to grow. Likely to launch new products under the Margo brand name
Have under-levered brands like - ‘Fa’ in their portfolio. May re-launch them at some point in time
Since Liquid detergents, personal care categories are doing well, the gross margins are improving
Disc: hold a tracking position, biased, not SEBI registered
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