Earnings | Emami Ltd (NSE:EMAMILTD): Q3FY23 Results Out; Total Income rise 0.2% YoY

Emami Ltd (NSE:EMAMILTD) is an Indian fast-moving consumer goods (FMCG) company that produces and markets a range of personal care, healthcare, and beauty products. The company’s product portfolio includes brands such as Boroplus, Navratna, Fair and Handsome, Zandu Balm, and Kesh King, among others. Emami Ltd was founded in 1974 and is headquartered in Kolkata, India. The company has a presence in more than 60 countries and operates through a network of over 4,500 distributors and 3.5 million retail outlets in India.

Emami Ltd, has reported its Q3FY23 results. The company’s consolidated net sales grew by 2% to reach Rs 975 crore, while revenue from operations grew by 1% to reach Rs 983 crore. The company’s PAT grew by 8% to reach Rs 237 crore, but its EBIDTA contracted by 14% due to inflationary input costs, inclusion of new subsidiary costs, and strategic outlay on distribution expansion in rural, digital, and modern trade channels. The Board of Directors declared a 2nd Interim Dividend at 400% or Rs 4 per equity share. The company reported total income of Rs 989.58 crore during the period ended December 31, 2022, and a net profit of Rs 237.13 crore.

Mr Harsha V Agarwal, Vice Chairman and Managing Director, Emami Limited said: “The environment has been challenging due to high inflation, consumption slowdown, poor rural growth and a warmer winter. In the given circumstances, we have delivered satisfactory performance with a 7% revenue growth on a 3 year CAGR basis in Q3FY23. We continue to invest strongly behind our power brands, innovations, channel expansions and distribution optimizations. We believe that these sustained efforts will help us achieve sustainable and profitable growth”

Mr Mohan Goenka, Vice Chairman and Whole-Time Director, Emami Limited said: “Notwithstanding the muted consumption patterns, our focus on innovation remains strong. Our new launches and digital-first NPD’s have contributed 4% to our Domestic net sales during the quarter and new age channels viz. Modern trade, eCommerce and D2C continue to grow in excess of 20%. Our International business also reported 7% quarterly growth despite tough market challenges in Bangladesh, Nepal and Sri Lanka.”