Multibagger FMCG stock with no dark spots; it checks all the boxes for solid earnings and hits an all-time high!

Multibagger FMCG stock with no dark spots; it checks all the boxes for solid earnings and hits an all-time high!

Prajwal Wakhare
/ Categories: Trending, Mindshare

The stock showing remarkable growth over the past year, surging by an impressive 112.55 per cent. Furthermore, its three-year return of 207.71 per cent and the maximum return of 957.45 per cent highlights the enormous potential and value it has generated for its shareholders.

One of the leading Indian FMCG company, has announced its financial results for the quarter ended September 30, 2023. The Company delivered sales of Rs 732 crores, an increase of 11.1 per cent against the same period last year. The Company's operating EBITDA increased by 68.3 per cent to Rs 135.4 Crores, while PAT increased by 59.1 per cent to Rs 104 Crores. This strong performance is likely to continue in the coming quarters, as the company benefits from continued demand for its products and further cost savings.

Jyothy Lab is a leading Indian FMCG company with a diversified product portfolio spanning four major categories: fabric care, dishwashing, household insecticides (HI), and personal care. The company has a strong market position in the post-wash segment (Ujala brand) and the dishwashing segment.

Jyothy Labs Reports Strong Segment Growth in Q2FY24

Jyothy Labs Limited, a leading Indian FMCG company, has announced strong segment growth for the quarter ended September 30, 2023. The company's fabric care segment grew by 10.6 per cent, dishwashing segment grew by 10 per cent, personal care segment grew by 22.3 per cent, and household insecticides segment grew by 3.4 per cent.

"The demand across our product portfolio has been stable," said Ms. M R Jyothy, Managing Director, Jyothy Labs Limited. "We are dedicated to delivering great value to all our consumers who have entrusted faith in us. With our continued and sustained focused efforts, we are confident to deliver committed results with every passing quarter and higher growth for all our stakeholders."

Technical View

JYOTHYLAB-2023-11-08-12-39-24

Jyothy Lab's stock price has been in a strong uptrend since July 2023. The stock price has made multiple breakouts to the upside, and is currently at an all-time high. This suggests that the bullish momentum is likely to continue. The stock price recently broke out of a flag chart pattern. This is a bullish continuation pattern that suggests that the stock price is likely to continue moving higher. The breakout was accompanied by a surge in volume, which is another positive sign. The relative strength index is also in bullish territory, suggesting that the stock is not overbought till now.

The stock showing remarkable growth over the past year, surging by an impressive 112.55 per cent. Furthermore, its three-year return of 207.71 per cent demonstrates the company's strong financial performance and market position. The maximum return of 957.45 per cent highlights the enormous potential and value it has generated for its shareholders.

Disclaimer: The article is for informational purposes only and not investment advice.

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