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Personal products company Emami announced Q1FY24 results:
- Consolidated revenues at Rs 826 crore grew by 7%
- Domestic business grew by 7%
- International business grew by 8% (Constant currency growth of 11%)
- Gross margins at 65.4% improved by 240 bps
- EBIDTA at Rs 190 crore grew by 10%
- EBIDTA margins improved by 60 bps
- Profit after tax at Rs 138 crore grew by 87%
- PAT margins improved by 720 bps
- Completed buyback of shares amounting to Rs 185.3 crore (excl. brokerage, taxes & levies).
Harsha V Agarwal, Vice-Chairman and Managing Director, Emami said, “We are happy to report a 7% growth in domestic business despite challenging operating environment. While erratic summer & unseasonal rains impacted summer product offtakes, our non-summer portfolio grew strongly by 16%. International business also continued its growth trajectory with 11% constant currency growth. With inflation moderating further, we look to the future with increased optimism and confidence. With the development of the digital eco-system, both e-commerce and D2C will play a key role in the organization’s growth and we will continue to invest in strengthening our presence in an omnichannel presence to reach our consumers.”
Mohan Goenka, Vice Chairman and Whole-Time Director, Emami said, “The quarter witnessed strong performance by our Pain Management, BoroPlus, and Healthcare range which grew in double digits, with Dermicool posting a high single-digit growth. Backed by our resilient and competitive performance and aided by softening of input cost, we could deliver a healthy expansion of gross margin and EBIDTA and a robust profit growth of 87%. All our channels, especially Modern Trade eCommerce continued to perform well and contributed 9.7% each to domestic business, a growth of 45% and 47% respectively over the previous year. We endeavor to strengthen our core and continue to invest in growth drivers to deliver healthy profitability this year.”
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