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Bajaj Consumer Care reported a 9% growth in net sales for June 19 quarter which stood at Rs 240.24 crore. OPM was down by 190 bps due to increase in prices of raw material and packaging stuffs which restricted the OP growth to 2% to Rs 70.47 crore. Other income was higher by 410% to Rs 5.97 crore largely due to higher treasury income. This has resulted in a PBIDT of Rs 76.44 crore up by 9%. While interest cost was up by 42% to Rs 0.37 crore, depreciation was down by 13% to Rs 1.30 crore, PBT stood at Rs 74.77 crore up by 9%. After providing total tax of Rs 16.12 crore, PAT for June 19 quarter stood at Rs 58.65 crore up by 9% YoY.
Performance for 12months ended Mar 19
For the 12 months ended Mar 19, net sales stood at Rs 909.35 crore which was up by 9% on YoY basis. OPM was lower by 50 bps to 30.6%, thus restricting the OP growth to 8% to Rs 278.42 crore. Other income was lower by 28% to Rs 17.53 crore due to MTM losses on treasury investments. Depreciation was lower by 4% to Rs 6.59 crore which resulted in a 5% increase in PBT to Rs 288.26 crore. After providing total tax of Rs 62.14 crore, PAT for 12 months ended Mar 19 stood at Rs 226.12 crore, up by 5% YoY.
Other updates
Hair Oils category grew by 8.9% in volume in MAT Jun 19, whereas value growth has been 16%
Antimarks category grew by 7.3% in volume and 10.2% in value in MAT Jun 19
General Trade: Growth has been sluggish across rural and urban. Rural markets continue to lead growths across states, sequential slowdown observed. Wholesale has seen sharper sequential slowdown. Urban Retail continues to be stable. Cool Almond Drops accepted well by trade
Alternate Channel: Modern Trade continued its strong growth at 22.5% for Q1 FY 20. Channels like E Commerce and Pharma grew by 217% and 117% helping overall growth of alternate Channel. Nomarks brand showed a growth of 300% plus with the help of Sunscreen and increase in reach. No business done in CSD for the quarter due to procedural issues in CSD.
International Business: IB reboot completed last fiscal. Business growing rapidly –added 250 bps to total company growth (value). Focus on key geographies, all of which are firing. Thrust on secondary sales; registered 60%+ growth (value)
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