Operating profit margin has declined from 27.51% to 22.24%, leading to 23% decline in operating profit to Rs 48.07 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 28.19% to 25.92%.   Purchase of finished goods cost rose from 7.29% to 15.02%.   Employee cost increased from 8.75% to 10.54%.   Other expenses fell from 29.13% to 26.57%.   

Other income rose 20.38% to Rs 10.16 crore.  PBIDT fell 17.84% to Rs 58.23 crore.  Provision for interest rose 85.71% to Rs 0.52 crore.  Loan funds remained nil.  Inventories declined from Rs 53.53 crore as of 30 September 2020 to Rs 45.49 crore as of 30 September 2021.  Sundry debtors were higher at Rs 26.74 crore as of 30 September 2021 compared to Rs 22.30 crore as of 30 September 2020.  Cash and bank balance declined from Rs 25.38 crore as of 30 September 2020 to Rs 24.37 crore as of 30 September 2021.  Investments rose to Rs 566.00 crore as of 30 September 2021 from Rs 517.98 crore as of 30 September 2020 .  

PBDT fell 18.25% to Rs 57.71 crore.  Provision for depreciation fell 22.29% to Rs 1.22 crore.  Fixed assets increased to Rs 136.80 crore as of 30 September 2021 from Rs 132.77 crore as of 30 September 2020.  Intangible assets stood at Rs 43.00 crore.  

Profit before tax down 18.15% to Rs 56.49 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 9.98 crore, compared to Rs 12.1 crore.  Effective tax rate was 17.67% compared to 17.53%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company decreased 18.29% to Rs 46.51 crore.  

Equity capital stood at Rs 14.75 crore as of 30 September 2021 to Rs 14.75 crore as of 30 September 2020.  Per share face Value remained same at Rs 1.00.  

Promoters' stake was 38.04% as of 30 September 2021 ,compared to 38.04% as of 30 September 2020 .  

For year-to-date (YTD) results analysis.

Net sales (including other operating income) of Bajaj Consumer Care has increased 1.98% to Rs 432.89 crore.  

Operating profit margin has declined from 28.14% to 23.22%, leading to 15.85% decline in operating profit to Rs 100.52 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 24.98% to 27.64%.   Purchase of finished goods cost rose from 8.53% to 13.34%.   Employee cost increased from 10.16% to 10.59%.   Other expenses fell from 27.87% to 25.48%.   

Other income fell 2.89% to Rs 18.46 crore.  PBIDT fell 14.08% to Rs 118.98 crore.  Provision for interest rose 27.94% to Rs 0.87 crore.  Loan funds remained nil.  Inventories declined from Rs 53.53 crore as of 30 September 2020 to Rs 45.49 crore as of 30 September 2021.  Sundry debtors were higher at Rs 26.74 crore as of 30 September 2021 compared to Rs 22.30 crore as of 30 September 2020.  Cash and bank balance declined from Rs 25.38 crore as of 30 September 2020 to Rs 24.37 crore as of 30 September 2021.  Investments rose to Rs 566.00 crore as of 30 September 2021 from Rs 517.98 crore as of 30 September 2020 .  

PBDT fell 14.28% to Rs 118.11 crore.  Provision for depreciation fell 22.01% to Rs 2.41 crore.  Fixed assets increased to Rs 136.80 crore as of 30 September 2021 from Rs 132.77 crore as of 30 September 2020.  Intangible assets stood at Rs 43.00 crore.  

Profit before tax down 14.11% to Rs 115.70 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 20.29 crore, compared to Rs 23.54 crore.  Effective tax rate was 17.54% compared to 17.48%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company decreased 14.17% to Rs 95.41 crore.  

Equity capital stood at Rs 14.75 crore as of 30 September 2021 to Rs 14.75 crore as of 30 September 2020.  Per share face Value remained same at Rs 1.00.  

Promoters' stake was 38.04% as of 30 September 2021 ,compared to 38.04% as of 30 September 2020 .  

Full year results analysis.

Net sales (including other operating income) of Bajaj Consumer Care has increased 8.17% to Rs 921.82 crore.  

Operating profit margin has jumped from 24.07% to 26.41%, leading to 18.68% rise in operating profit to Rs 243.45 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 30.98% to 25.62%.   Purchase of finished goods cost rose from 2.10% to 9.30%.   Employee cost decreased from 10.05% to 9.34%.   Other expenses fell from 33.14% to 28.98%.   

Other income rose 15.48% to Rs 34.54 crore.  PBIDT rose 18.27% to Rs 277.99 crore.  Provision for interest fell 67.53% to Rs 1.38 crore.  Loan funds declined from Rs 20.00 crore as of 31 March 2020 to Rs 5.00 crore as of 31 March 2021.  Inventories declined from Rs 62.96 crore as of 31 March 2020 to Rs 43.17 crore as of 31 March 2021.  Sundry debtors were lower at Rs 22.45 crore as of 31 March 2021 compared to Rs 25.54 crore as of 31 March 2020.  Cash and bank balance declined from Rs 12.63 crore as of 31 March 2020 to Rs 9.83 crore as of 31 March 2021.  Investments rose to Rs 584.55 crore as of 31 March 2021 from Rs 446.30 crore as of 31 March 2020 .  

PBDT rose 19.85% to Rs 276.61 crore.  Provision for depreciation rose 7.57% to Rs 6.25 crore.  Fixed assets declined from Rs 134.61 crore as of 31 March 2020 to Rs 130.81 crore as of 31 March 2021.  Intangible assets stood at Rs 43.00 crore.  

Profit before tax grew 20.17% to Rs 270.36 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 47.23 crore, compared to Rs 40.21 crore.  Effective tax rate was 17.47% compared to 17.87%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 20.76% to Rs 223.13 crore.  

Equity capital stood at Rs 14.75 crore as of 31 March 2021 to Rs 14.75 crore as of 31 March 2020.  Per share face Value remained same at Rs 1.00.  

Promoters' stake was 38.04% as of 31 March 2021 ,compared to 38.04% as of 31 March 2020 .  

Cash flow from operating activities increased to Rs 237.13 crore for year ended March 2021 from Rs 179.03 crore for year ended March 2020.  Cash flow used in acquiring fixed assets during the year ended March 2021 stood at Rs 2.69 crore, compared to Rs 7.01 crore during the year ended March 2020. 

Other Highlights

In September 2021, bajaj hair oil market share stood at 10.8% compared to 10.1% in September 2020.

In September 2021, bajaj hair oil market share in urban markets stood at 11.3% and 10.1% in rural markets.

In Q2 FY22, sales value in hair oil segment fell 2.1%, non hair oil sales value fell 64.2% compared to Q2 FY21.

In H1 FY22, sales value in hair oil segment rose 7.9%, non hair oil sales value fell 74.3% compared to H1 FY21.

In Q2 FY22, sales Value Channel Wise mix was- 83.3% general trade, 14% Organised Trade Channel and International Business 2.8%.