Emami Ltd., a leading personal and healthcare products company, announced its financial results for the fourth quarter of the fiscal year 2023-24 (Q4FY24).
Key Highlights:
Consolidated Net Sales: ₹881 crore (8% growth YoY)
Revenue from Operations: ₹891 crore (7% growth YoY)
Domestic Business Growth: 8% (Volume growth of 6.4%)
International Business Growth: 8% (9% in constant currency terms)
Gross Margins: 65.8% (improved by 270 bps)
EBITDA: ₹211 crore (6% growth YoY despite 39% higher A&P investments)
PAT: ₹149 crore (3% growth YoY)
Growth Drivers:
Strong Performance of Key Brands: Brands like BoroPlus, Pain Management range, Healthcare range, 7 Oils in One, The Man Company, and Brillare performed well during the quarter.
New Product Launch: Emami launched Nature F1rst healthy radiance range under the Fair and Handsome brand.
Recovery in Rural Market: The rural market showed signs of recovery, contributing to the overall growth.
Increased Contribution from Organized Channels: Organized channels now account for 26% of domestic business, up from 22% in FY23.
Management Commentary:
Harsha V Agarwal, Vice Chairman and Managing Director, expressed satisfaction with the volume-led growth and the performance of key brands. He highlighted the company's strategic investments in innovative start-ups and its focus on strengthening brand visibility and distribution initiatives.
Mohan Goenka, Vice Chairman and Whole-Time Director, highlighted the improved EBITDA despite higher investments in marketing. He also mentioned the positive outlook for the near and mid-term, with the aim of achieving healthy growth supported by a favorable operating environment.
For further information:
Q4 FY24 Press Release: https://www.emamiltd.in/wp-content/uploads/2024/05/30004617/q4-fy-24-press-release.pdf
ICICI Direct Analysis: https://www.icicidirect.com/research/equity/rapid-results/emami-ltd
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