On consolidated basis
Quarter ended September 2024 compared with Quarter ended September 2023.
Net sales (including other operating income) of Emami has increased 2.97% to Rs 890.59 crore. Sales of Within India segment has gone up 2.16% to Rs 726.27 crore (accounting for 81.55% of total sales). Sales of Outside India segment has gone up 6.71% to Rs 164.32 crore (accounting for 18.45% of total sales). Operating profit margin has jumped from 27.02% to 28.12%, leading to 7.19% rise in operating profit to Rs 250.47 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 23.56% to 22.15%. Purchase of finished goods cost rose from 9.93% to 10.61%. Employee cost increased from 11.16% to 12.05%. Other expenses fell from 29.71% to 28.43%. Selling and administration expenses fell from 16.94% to 15.56%. Other income rose 94.06% to Rs 21.56 crore. PBIDT rose 11.13% to Rs 272.03 crore. Provision for interest rose 3.56% to Rs 2.33 crore. Loan funds declined from Rs 107.46 crore as of 30 September 2023 to Rs 74.39 crore as of 30 September 2024. Inventories declined from Rs 360.64 crore as of 30 September 2023 to Rs 352.79 crore as of 30 September 2024. Sundry debtors were higher at Rs 487.17 crore as of 30 September 2024 compared to Rs 479.91 crore as of 30 September 2023. Cash and bank balance rose to Rs 265.89 crore as of 30 September 2024 from Rs 184.56 crore as of 30 September 2023. Investments rose to Rs 623.83 crore as of 30 September 2024 from Rs 434.18 crore as of 30 September 2023 . PBDT rose 11.20% to Rs 269.7 crore. Provision for depreciation fell 3.12% to Rs 44.65 crore. Fixed assets increased to Rs 979.47 crore as of 30 September 2024 from Rs 681.29 crore as of 30 September 2023. Intangible assets declined from Rs 498.03 crore to Rs 68.19 crore. Profit before tax grew 14.56% to Rs 225.05 crore. Share of profit/loss was 645.16% lower at Rs -4.62 crore. Provision for tax was expense of Rs 9.44 crore, compared to Rs 15.83 crore. Effective tax rate was 4.28% compared to 8.08%. Net profit attributable to owners of the company increased 19.14% to Rs 212.66 crore. Equity capital stood at Rs 43.65 crore as of 30 September 2024 to Rs 43.65 crore as of 30 September 2023. Per share face Value remained same at Rs 1.00. Promoters’ stake was 54.84% as of 30 September 2024 ,compared to 54.84% as of 30 September 2023 . Promoters pledged stake was 8.15% as of 30 September 2024 ,compared to 17.70% as of 30 September 2023 . For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Emami has increased 6.28% to Rs 1796.66 crore. Sales of Within India segment has gone up 5.88% to Rs 1,493.89 crore (accounting for 83.15% of total sales). Sales of Outside India segment has gone up 8.26% to Rs 302.77 crore (accounting for 16.85% of total sales). Operating profit margin has jumped from 25.06% to 25.99%, leading to 10.22% rise in operating profit to Rs 466.98 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 22.09% to 19.26%. Purchase of finished goods cost rose from 11.03% to 11.83%. Employee cost increased from 11.85% to 12.42%. Other expenses rose from 30.31% to 30.60%. Selling and administration expenses rose from 17.87% to 18.27%. Other income rose 65.14% to Rs 32.02 crore. PBIDT rose 12.62% to Rs 499 crore. Loan funds declined from Rs 107.46 crore as of 30 September 2023 to Rs 74.39 crore as of 30 September 2024. Inventories declined from Rs 360.64 crore as of 30 September 2023 to Rs 352.79 crore as of 30 September 2024. Sundry debtors were higher at Rs 487.17 crore as of 30 September 2024 compared to Rs 479.91 crore as of 30 September 2023. Cash and bank balance rose to Rs 265.89 crore as of 30 September 2024 from Rs 184.56 crore as of 30 September 2023. Investments rose to Rs 623.83 crore as of 30 September 2024 from Rs 434.18 crore as of 30 September 2023 . PBDT rose 12.75% to Rs 494.61 crore. Provision for depreciation fell 3.27% to Rs 89.08 crore. Fixed assets increased to Rs 979.47 crore as of 30 September 2024 from Rs 681.29 crore as of 30 September 2023. Intangible assets declined from Rs 498.03 crore to Rs 68.19 crore. Profit before tax grew 17.01% to Rs 405.53 crore. Share of profit/loss was 500% lower at Rs -6.72 crore. Provision for tax was expense of Rs 37.22 crore, compared to Rs 28.73 crore. Effective tax rate was 9.33% compared to 8.32%.Net profit attributable to owners of the company increased 15.52% to Rs 365.30 crore. Equity capital stood at Rs 43.65 crore as of 30 September 2024 to Rs 43.65 crore as of 30 September 2023. Per share face Value remained same at Rs 1.00. Promoters’ stake was 54.84% as of 30 September 2024 ,compared to 54.84% as of 30 September 2023 . Promoters pledged stake was 8.15% as of 30 September 2024 ,compared to 17.70% as of 30 September 2023 . Cash flow from operating activities increased to Rs 399.10 crore for YTD ended September 2024 from Rs 372.36 crore for YTD ended September 2023. Cash flow used in acquiring fixed assets during the YTD ended September 2024 stood at Rs 18.37 crore, compared to Rs 12.01 crore during the YTD ended September 2023.
Full year results analysis.
Net sales (including other operating income) of Emami has increased 5.06% to Rs 3578.09 crore. Sales of Within India segment has gone up 4.40% to Rs 2,958.63 crore (accounting for 82.69% of total sales). Sales of Outside India segment has gone up 8.36% to Rs 619.46 crore (accounting for 17.31% of total sales). Operating profit margin has jumped from 25.33% to 26.54%, leading to 10.06% rise in operating profit to Rs 949.53 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 24.48% to 21.39%. Purchase of finished goods cost rose from 10.08% to 11.33%. Employee cost increased from 10.92% to 11.01%. Other expenses rose from 28.91% to 29.84%. Selling and administration expenses rose from 16.64% to 18.15%. Other income fell 32.11% to Rs 46.8 crore. PBIDT rose 6.94% to Rs 996.33 crore. Provision for interest rose 35.05% to Rs 9.98 crore. Loan funds rose to Rs 93.95 crore as of 31 March 2024 from Rs 90.51 crore as of 31 March 2023. Inventories declined from Rs 328.04 crore as of 31 March 2023 to Rs 323.40 crore as of 31 March 2024. Sundry debtors were higher at Rs 494.21 crore as of 31 March 2024 compared to Rs 414.60 crore as of 31 March 2023. Cash and bank balance rose to Rs 201.38 crore as of 31 March 2024 from Rs 184.75 crore as of 31 March 2023. Investments rose to Rs 441.54 crore as of 31 March 2024 from Rs 293.36 crore as of 31 March 2023 . PBDT rose 6.71% to Rs 986.35 crore. Provision for depreciation fell 24.81% to Rs 185.9 crore. Fixed assets declined from Rs 1,183.48 crore as of 31 March 2023 to Rs 1,052.99 crore as of 31 March 2024. Intangible assets stood at Rs 68.19 crore. Profit before tax grew 18.23% to Rs 800.45 crore. Share of profit/loss was 50.40% higher at Rs -3.72 crore. Provision for tax was expense of Rs 66.69 crore, compared to Rs 42.14 crore. Effective tax rate was 8.43% compared to 6.29%. Net profit attributable to owners of the company increased 13.13% to Rs 723.53 crore. Equity capital decreased from Rs 44.12 crore as of 31 March 2023 to Rs 43.65 crore as of 31 March 2024 . Per share face Value remained same at Rs 1.00. Promoters’ stake was 54.84% as of 31 March 2024 ,compared to 54.27% as of 31 March 2023 . Promoters pledged stake was 13.09% as of 31 March 2024 ,compared to 40.12% as of 31 March 2023 . Cash flow from operating activities increased to Rs 779.00 crore for year ended March 2024 from Rs 748.88 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 40.59 crore, compared to Rs 40.46 crore during the year ended March 2023. Other Highlights
The Board has
declared an interim dividend of Rs 4 per equity share of Re 1 each fully
paid-up, for the financial year 2024-25. The record date for the same is 18
November 2024.
The company increased its stake in Helios Lifestyle (The Man Company) from 50.4%
to 98.3% in Q2 FY25.
In Q2 FY25,
domestic business grew 2.6% YoY and international Business grew 12% YoY excluding Bangladesh.
The company continued to drive its
innovation pipeline forward, launching 11 new products this quarter.
In Q2 FY25, Pain
Management Range increased 5% YoY, Navratna Range grew 10%, BoroPlus Range
increased 2%, Kesh King Range de-grew 9%, Male Grooming Range de-grew 13% and
Healthcare Range up by 11% on YoY basis.
In Q2 FY25, SAARC & SEA contributed 39% to international sales, MENA 43% and
CIS 11%.
Management Comments :
Mr Harsha V Agarwal, Vice Chairman and Managing
Director, Emami said: “We are pleased to close the first half of the year with strong
performance, achieving 6% revenue growth, 10% EBITDA growth, and a 16% profit
increase despite macroeconomic challenges. For H2 FY25, we expect stronger
offtakes driven by improved urban demand and stable seasons ahead. Our
international business demonstrated resilience despite geopolitical challenges,
delivering double-digit growth, excluding Bangladesh. Besides good performance
of our existing brands, strategic investments and the recent launch of 11 new
domestic products are set to boost consumer confidence and drive double-digit
revenue growth in the second half.”
Mr Mohan Goenka, Vice Chairman and
Whole-Time Director, Emami said, “Organized channels like Modern Trade,
e-Commerce, and Institutional sales now contribute 26.6% to our domestic business,
a 190-basis point increase in the first half. We remain committed to achieving
high single-digit revenue growth and double-digit EBITDA growth for FY25. The
Q3 relaunch of Fair and Handsome and focused efforts on Kesh King strengthen
our confidence in driving H2 growth. With a favorable winter forecast, we
expect strong performance from our winter portfolio."
| Emami : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202409 | 202309 | Var.(%) | 202409 | 202309 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 890.59 | 864.87 | 2.97 | 1,796.66 | 1,690.53 | 6.28 | 3,578.09 | 3,405.73 | 5.06 | | OPM (%) | 28.12 | 27.02 | 111 bps | 25.99 | 25.06 | 93 bps | 26.54 | 25.33 | 120 bps | | OP | 250.47 | 233.67 | 7.19 | 466.98 | 423.68 | 10.22 | 949.53 | 862.76 | 10.06 | | Other Inc. | 21.56 | 11.11 | 94.06 | 32.02 | 19.39 | 65.14 | 46.80 | 68.93 | -32.11 | | PBIDT | 272.03 | 244.78 | 11.13 | 499.00 | 443.07 | 12.62 | 996.33 | 931.69 | 6.94 | | Interest | 2.33 | 2.25 | 3.56 | 4.39 | 4.39 | 0 | 9.98 | 7.39 | 35.05 | | PBDT | 269.70 | 242.53 | 11.20 | 494.61 | 438.68 | 12.75 | 986.35 | 924.30 | 6.71 | | Depreciation | 44.65 | 46.09 | -3.12 | 89.08 | 92.09 | -3.27 | 185.9 | 247.25 | -24.81 | | PBT | 225.05 | 196.44 | 14.56 | 405.53 | 346.59 | 17.01 | 800.45 | 677.05 | 18.23 | | Share of Profit/(Loss) from Associates | -4.62 | -0.62 | -645.16 | -6.72 | -1.12 | -500.00 | -3.72 | -7.5 | 50.40 | | PBT before EO | 220.43 | 195.82 | 12.57 | 398.81 | 345.47 | 15.44 | 796.73 | 669.55 | 18.99 | | EO Income | 0 | 0 | - | 0 | 0 | - | -5.9 | 0 | - | | PBT after EO | 220.43 | 195.82 | 12.57 | 398.81 | 345.47 | 15.44 | 790.83 | 669.55 | 18.11 | | Taxation | 9.44 | 15.83 | -40.37 | 37.22 | 28.73 | 29.55 | 66.69 | 42.14 | 58.26 | | PAT | 210.99 | 179.99 | 17.22 | 361.59 | 316.74 | 14.16 | 724.14 | 627.41 | 15.42 | | Minority Interest (MI) | -1.67 | 1.49 | LP | -3.71 | 0.52 | LP | 0.61 | -12.16 | PL | | Net profit | 212.66 | 178.5 | 19.14 | 365.3 | 316.22 | 15.52 | 723.53 | 639.57 | 13.13 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 212.66 | 178.5 | 19.14 | 365.3 | 316.22 | 15.52 | 723.53 | 639.57 | 13.13 | | EPS (Rs)* | 4.87 | 4.09 | 19.14 | 8.37 | 7.24 | 15.52 | 16.70 | 14.65 | 13.97 | | | * EPS is on current equity of Rs 43.65 crore, Face value of Rs 1, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
| Emami : Consolidated Segment Results | td>-| | Quarter ended | Year to Date | Year ended |
|---|
| % of (Total) | 202409 | 202309 | Var.(%) | % of (Total) | 202409 | 202309 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
|---|
| Sales | | Within India | 81.55 | 726.27 | 710.88 | 2.16 | 83.15 | 1,493.89 | 1,410.87 | 5.88 | 82.69 | 2,958.63 | 2,834.06 | 4.40 | | Outside India | 18.45 | 164.32 | 153.99 | 6.71 | 16.85 | 302.77 | 279.66 | 8.26 | 17.31 | 619.46 | 571.67 | 8.36 | | Total Reported Sales | 100.00 | 890.59 | 864.87 | 2.97 | 100.00 | 1,796.66 | 1,690.53 | 6.28 | 100.00 | 3,578.09 | 3,405.73 | 5.06 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 890.59 | 864.87 | 2.97 | 100.00 | 1,796.66 | 1,690.53 | 6.28 | 100.00 | 3,578.09 | 3,405.73 | 5.06 | | PBIT | | Within India | 0.00 | 0.00 | 0.00 | - | | Outside India | 0.00 | 0.00 | 0.00 | - | | Total PBIT | 100.00 | 0.00 | 0.00 | - | 100.00 | 0.00 | 0.00 | - | 100.00 | 0.00 | 0.00 | - | | Less : Interest | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Add: Other un-allcoable | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | PBIT Margin(%) | | Within India | | 0.00 | 0.00 | 0.00 | | Outside India | | 0.00 | 0.00 | 0.00 | | PBT | 100.00 | 0.00 | 0.00 | - | 100.00 | 0.00 | 0.00 | - | 100.00 | 0.00 | 0.00 | - |
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