Emami Ltd recorded its fiscal fourth quarter earnings with profit at Rs 148.90 crore, up 3.1 per cent in comparison to Rs 144.43 crore during the fourth quarter of FY23. It posted revenue from operations at Rs 891.24 crore, up 6.6 per cent as against Rs 835.95 crore during the same period last year. The company demonstrated resilience and achieved volume led profit growth in the fourth quarter, it stated. While the total income recorded during the quarter in review stood at Rs 901.94 crore, total expenses incurred by the company was at Rs 680.26 crore.
Emami‘s domestic business grew by 8 per cent with a healthy volume growth of 6.4 per cent. Major brands like BoroPlus, Pain Management range, Healthcare range, 7 Oils in One, The Man Company and Brillare performed strongly during the quarter. However, extended winters led Navratna and Dermicool to post low single digit growth, the company said in a regulatory filing.
Despite geopolitical crises and currency depreciations in key geographies, international business posted a growth of 9 per cent in constant currency and 8 per cent in INR terms driven primarily by the MENA region. The international business further strengthened its portfolio by introducing a range of shampoos and conditioners under the 7 Oils in One brand and a Baby care range under the Creme21 brand. The NPDs were launched in select key markets and will be gradually extended to other markets as well in coming quarters. Overall, Emami launched more than 50 products and variants in the domestic and international market in FY24 with the majority being digital first products.
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In Q4FY24, gross margins were at 65.8 per cent expanded by 270 basis points. EBITDA stood at Rs 211 crore, up 6 per cent, despite strong investments behind brands which led to a 39 per cent surge in A&P spends.
Harsha V Agarwal, Vice Chairman and Managing Director, Emami Limited, said, “We are very happy to have delivered a growth of 8 per cent in our consolidated net sales, led by a domestic volume growth of 6.4 per cent in the fourth quarter, driven by most of our key brands. Despite facing geo-political challenges, our international business continued to perform well and achieved a commendable 9% growth in constant currency terms. We expect our core brands to deliver a healthy all-round growth going forward, aided by recovery in rural areas, a strong summer and forecast of a good monsoon. Our strategic investments in innovative start-ups are expected to continue their robust growth and improve their profitability.”
From: financialexpress
Financial News
