Personal Products company Emami announced Q3FY24 & 9MFY24 results:
Financial Performance:
- Consolidated Revenues: Q3FY24 at Rs 996 crore with a 1% growth, and 9MFY24 at Rs 2,686.8 crore with a 5% growth.
- EBIDTA: Q3FY24 at Rs 315 crore, up by 7%, and 9MFY24 at Rs 738.5 crore, up by 11%.
- PAT (Profit After Tax): Q3FY24 at Rs 258 crore, increased by 9%, and 9MFY24 at Rs 577.4 crore, increasing by 16%.
Business Segments:
- Domestic Business: Reported flat growth for Q3; non-winter products grew by 5%.
- International Business: Registered an 8% growth in Rs and a constant currency growth of 11% on a Q3FY24 basis, dominant in the MENAP region.
Margins:
- Gross Margin: Improved by 290 basis points to 68.8% in Q3FY24.
- EBIDTA Margin: Increased by 170 basis points in Q3FY24.
- PAT Margin: Improved by 180 basis points in Q3FY24.
Dividends:
- Declared an interim dividend of 400%, which amounts to Rs 4/- per share.
Harsha V Agarwal, Vice Chairman and Managing Director: "I am happy that we could deliver another quarter of resilient performance along with substantially improved profitability with a 7% growth in EBIDTA and 9% growth in Profit after Tax, despite subdued demand in Q3. Disrupted winter, weak rural demand, and continued inflationary woes impacted the winter and discretionary offtakes. We remain committed to delivering volume-led profitable growth going forward aided by accelerated scale-up of emerging channels, distribution initiatives, ongoing brand and strategic investments coupled with the launch of innovative products."
Mohan Goenka, Vice Chairman and Whole-Time Director: "We showcased our adaptability in the face of changing market dynamics to post a resilient revenue growth despite a delayed winter. Our International business posted an impressive 11% constant currency growth led by the MENAP region. Our commitment to innovation remains unwavering, marked by the launch of various new innovative products both in domestic and international markets, underscoring our dedication to driving future growth and delivering value to our stakeholders."