Dont miss action in this stock as net profit jumps 77.2 per cent in Q3FY23!
Company strategy is to build scale and gain market share backed by our enhanced distribution, including reaching out to newer geographies, increase brand visibility and product innovation initiatives
Jyothy Labs Limited, one of the leading Indian FMCG companies, announced its financial results for the quarter ended December 31, 2022. The Company delivered sales of Rs 613 crore, increase of 13.7 per cent growth against the same period last year.
The Company continues to deliver consistent double-digit revenue growth for the quarter as well as on a 2-year CAGR basis. The business has been resilient, in spite of high commodity inflation impacting the consumption across categories.
Company has been focusing on execution to drive higher operating revenues and manage margins in the inflationary environment. Company strategy is to build scale and gain market share backed by our enhanced distribution, including reaching out to newer geographies, increase brand visibility and product innovation initiatives.
Their overall growth across all channels and markets has been encouraging and affirmative.
FINANCIAL HIGHLIGHTS (Q3FY2023 results over same period last year)
- Net Sales at Rs. 613 crore, increased by 13.7 per cent
- EBITDA margin at Rs. 84.4 crore (13.8 per cent of Net sales), increased by 37.9 per cent
- Net Profit at Rs 67.4 crore, increased by 77.2 per cent
SEGMENT PERFORMANCE:
Fabric Care sales increased by 26 per cent for Q3FY23 over same period last year. The segment has seen improvement in sales across all brands.
Dishwashing sales increased by 10 per cent for Q3FY23 over same period last year. Further, Lower Unit Packs (‘LUP’) continue to gain acceptance and are selling strongly in the rural markets thereby thrusting growth in revenues.
Personal Care Sales increased by 11.6 per cent for Q3FY23 over same period last year.
Household insecticides sales decreased by 15.6 per cent for Q3FY23 over same period last year. The decline is primarily due to degrowth in the category owing to seasonal and industry issues.
Commenting on the financial performance of Q3FY2023, Ms. M R Jyothy, Managing Director, Jyothy Labs Limited said, “We continue to drive execution led growth to build scale. This will deliver value for all the stakeholders. Consistent market share gains build a stronger operating environment which further drives future growth opportunities. We have been witnessing a good traction for all our product categories and are determined to achieve consistent growth momentum for future.”