MPC kept the policy repo rate unchanged at 4.0%. MPC unanimously voted for keeping the policy repo rate unchanged and continued with an accommodative stance as long it is necessary-at least during the current financial year and into the next financial year. This is to revive growth and mitigate the impact of Covid-19 on the economy, while ensuring that inflation remains within the target. The Monetary Policy Committee (MPC) had unanimously voted against rate cut in Oct'20 policy. The post Covid-19 repo rate cut now stands at 115 bps and the reverse repo is down 155 bps. Growth The RBI reiterated that said that the rural economy looks resilient while urban demand is also gaining momentum. In...
Acquisition of Creative Stylo Packs for `2.5bn In line with its ambitions of scaling-up presence in Beauty and Cosmetics segment, EPL announced the acquisition of Creative Stylo Packs. The company is engaged in the business of plastic tubes, laminated tubes and corrugated boxes for the Beauty & Cosmetics and Pharma industry with marquee clients such as L'Oreal, Marico, Zydus etc. Annual production of 200mn tubes specialty plastic and decoration (Enough headroom for capacity and would be rationalize further); most of the business comes from Beauty and cosmetics (~85-90%) and 10-15% from...
Q2FY21 Topline remained flattish YoY The Q2FY21 topline remained flattish YoY at `17,701mn. Flattish revenue was due to flattish revenue growth in the standalone business and benefits of appreciation of EUR versus Rs, offset by 7-8% decline in subsidiaries revenues in EUR terms. Revenues in India business were flat YoY in Q2FY21 led by double-digit growth with HMSI, Yamaha India, Suzuki and Tata Motors, offset by 7-12% YoY decline in revenues from Bajaj Auto and Royal Enfield and 5% YoY decline in the aftermarket segment. EBITDA was at `3,132mn (+7.6% YoY; +633% QoQ) led...
Aarti Industries Ltd reported ~19% YoY and ~25% QoQ increase in topline to `11,726mn on account of 24% YoY and 32% QoQ increase in specialty chemicals segment and ~21% YoY and 14% QoQ increase in pharmaceuticals. EBITDA for the quarter stood at `2543mn showcasing growth of ~0.5% YoY and 39% QoQ. However, EBITDA margins dropped to 21.7% in Q2FY21 compared to...
The revival of the consumer sentiment has been reflected in the company's performance across brand portfolio. The company has been focusing on volume led sales growth, brand building, product innovation and cost rationalization measures leading to sustainable profitable growth. There is strong demand acceleration in the General Trade and Ecommerce Platform while Modern Trade stores (MT') and Canteen Stores Department (CSD') operations...
Higher SCM revenues as ramp up seen in E-commerce and Consumer segment Mahindra Logistics (MLL) reported strong sequential numbers on the back of higher SCM revenues and income-tax refunds. Supply Chain Management (SCM) segment reported a revenue growth of 6% YoY in Q2FY21 as ramp-up in E-commerce and Consumer segment (constituting 50% of Non-M&M; SCM revenues) drove 17% YoY growth in Non-M&M; non-automotive segment. Expect recovery in automotive demand from 2HFY21 and scale up of new contracts won...
