Emami Ltd, a leading FMCG company, has reported a 3.62% increase in its Profit After Tax (PAT) to INR 146.75 crore for the fourth quarter ending on March 31, 2024. According to a company regulatory filing, the PAT for the same quarter of the previous fiscal stood at INR 141.62 crore.
During the quarter under review, Emami’s revenue from operations reached INR 891.24 crore, marking a 6.61% increase from INR 835.95 crore recorded in the corresponding quarter of the previous year.
“The fourth quarter witnessed profit growth driven by volume,” stated Emami in an earnings report.
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The FMCG firm noted that its EBIDTA, standing at INR 211 crore, experienced a 6% growth.
In the March quarter of FY24, Emami’s total expenses rose by 7% to INR 680.26 crore.
The company stated that its domestic business expanded by 8%, with a recorded volume growth of 6.4%.
Performance of Key Brands
Emami mentioned that key brands such as BoroPlus, the Pain Management range, Healthcare range, 7 Oils in One, The Man Company, and Brillare demonstrated robust performance throughout the quarter.
However, it added that extended winters led Navratna and Dermicool to post low single-digit growth.
It stated that its international business experienced a growth of 9% in constant currency and 8% in INR terms, primarily propelled by the MENA region.
In the March quarter, its total income, encompassing other revenue, rose by 6.14% to INR 901.94 crore.
Emami Vice Chairman and Whole-Time Director Mohan Goenka remarked, “It is encouraging to witness signs of market recovery, particularly with rural areas gradually bouncing back. Our contribution from organized channels has increased to 26% of our domestic business from 22% in FY23.”
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Emami’s consolidated Profit After Tax (PAT) for the financial year, which ended on March 31, 2024, surged by 15.42% to INR 724.14 crore. It was at INR 627.41 crore in the previous fiscal.
In FY24, its revenue from operations increased by 5.06% to INR 3,578.09 crore compared to INR 3,405.73 crore a year ago.
The company stated that it introduced over 50 products and variants in both domestic and international markets during FY24, with the majority being digital-first products.
Outlook and Growth Prospects
Emami expressed optimism regarding future growth, citing a favorable economic landscape, anticipated normal monsoon forecasts, expected rural market recovery, governmental initiatives, and promising macroeconomic factors.
On Wednesday, shares of Emami Ltd concluded at INR 516 on BSE, marking a 3.04% decline from the previous closing.
