Personal Products company Jyothy Labs announced Q3FY24 & 9MFY24 results: Q3FY24 vs Q3FY23: Net Sales at Rs. 678 crore, up by 10.6% EBITDA margin at 17.5% (Rs 118.6 crore) versus 13.8% (Rs 84.4 crore), up by 40.6% Net Profit at Rs 90.9 crore from Rs 67.4 crore, up by 34.9% 9MFY24 vs 9MFY23: Net Sales at Rs. 2097 crore, up by 12.2% EBITDA margin at 17.7% (Rs 371.4 crore) versus 12.0% (Rs 224.6 crore), up by 65.4% Net Profit at Rs 291.2 crore from Rs 180.5 crore, up by 61.3% Commenting on the financial performance of Q3FY24, M R Jyothy, Managing Director, Jyothy Labs said, “The performance for the quarter has been encouraging with double-digit revenue growth and expanding profitability metrices. Our results in the last few years have demonstrated consistent growth backed by our investment towards strategic brand building, enhancing direct distribution, and manufacturing capacity augmentation. Consumer demand has been mixed with rural growth yet to pick up momentum. We strive towards volume-led growth, strengthen our brand market share, and achieve the higher scale of business operations for sustainable long-term value creation for all stakeholders”. Result PDF
Personal Products company Jyothy Labs announced Q2FY24 & H1FY24 results: 1. Financial Performance: Q2FY24: Net Sales at Rs 732 crore, up by 11.1% EBITDA margin at 18.5% (Rs 135.4 crore) versus 12.2% (Rs 80.4 crore), up by 68.3% Net Profit after Tax at Rs 104 crore from Rs 65.4 crore up by 59.1% H1FY24: Net Sales at Rs 1,419 crore, up by 13% EBITDA margin at 17.8% from 11.2% at Rs 252.8 crore, up by 80.2% Net Profit after Tax at Rs 200.2 crore, up by 77.1% Cash balance as of September 30, 2023, of Rs 440 Crore 2. Business Strategy and Execution: - Jyothy Labs focused on strengthening its core business through effective execution, resulting in higher growth. - The company leveraged its expanded distribution platform to mitigate the slowing consumption environment and drive sales in new geographies. - Market share growth was achieved across Jyothy Labs' portfolio, highlighting the success of increased brand investments, research & development efforts, and agile business operations. 3. Segment Performance: - Fabric Care: Sales of fabric care products, including fabric whitener, fabric enhancer, bar soap, detergent powder, and liquid detergent, increased by 10.6% in Q2FY24. The segment witnessed improvement in sales across all brands, with a focus on value offerings and premium liquid detergents. - Dishwashing: Sales of dishwashing products increased by 10% in Q2FY24. The growth was driven by the Exo and Pril brands, with onboarding new consumers and a focus on larger packs in the dishwashing liquid category. - Personal Care: Sales of personal care products, including body soap and toothpaste, showed a significant growth of 22.3% in Q2FY24. The Margo portfolio of Neem-based soaps, as well as the launch of Margo Neem Naturals with three new variants, contributed to this growth. - Household Insecticides: Sales of household insecticides increased by 3.4% in Q2FY24, with a consistent recovery after a challenging period. The company focused on innovation, brand affinity, and distribution in this segment, particularly with its liquid vaporizer portfolio. M R Jyothy, Managing Director, Jyothy Labs, stated, "The demand across our product portfolio has been stable. The inflationary environment has been a constant pressure on the consumption of FMCG products, however, given our business potential, we continue to expand our distribution footprint across India and further strengthen our brands which has resulted in consistent business growth. 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." Result PDF
Conference Call with Jyothy Labs Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.