Marico Limited, one of India’s leading consumer goods companies, announced its results for the second quarter ended September 30, 2023. The company delivered a fairly resilient performance despite mixed demand trends and a challenging macro environment. Consolidated Revenue from Operations stood at ₹2,476 crore, registering a marginal decline of 1% year-on-year. This was led by […]
Analysts have largely been positive on ITC’s second quarter results, as the diversified company reported a 2.6% year-on-year growth in revenues to Rs 16,551 crore in Q2FY23, driven by growth across cigarettes, FMCG and hotels businesses. Nuvama Research has retained its ‘BUY’ rating on the stock with a revised price target of Rs 560, up […]
Major Indian consumer packaged goods (CPG) companies are expected to report muted growth for the September quarter amid slowing demand, particularly in rural areas, and persistent high inflation, according to research reports from leading brokerages. Demand, Volume and Revenue Growth Brokerages forecast muted revenue growth for consumer packaged goods (CPG) companies in Q2FY24 amid slowing […]
Hindustan Unilever, the biggest advertiser in India, protected its profit margins during the Apr-Jun period by slashing its advertising budget by about 32%. Given that this is after merging GSK’s consumer healthcare business with itself, the actual decline in advertising is likely to have been in the 35% range. Even after adding GSK CH numbers, […]
Dabur India, the country’s largest maker of fast-moving consumer goods based on traditional recipes and systems, reported a sequential slowdown in sales for the September quarter due to tight financial conditions. On a year-on-year basis, the company was still able to report a 4% growth. The Domestic FMCG business reported an underlying volume growth of […]
Dabur, one of India’s biggest consumer brands specializing in products based on Ayurveda, today launched Babool Ayurvedic, a new variant of Babool, the most popular herbal toothpaste in India. Babool paste is named after Babool, the Hindi name for Acacia, which forms one of the ingredients. Even rivals like Patanjali and Himalaya have launched many […]
Government of India has raised objections to the use of AYUSH as a trademark, said Shripad Yesso Naik, minister of Ayurveda, Yoga, Naturopathy, Unani, Siddha and Homoeopathy. The objection is based on the contention that the abbreviation for the ministry’s name is also AYUSH, and is used by the government in official communications and publications. […]
Acharya Balkrishna, the owner of Patanjali Ayurved — one of India’s biggest consumer products companies — clarified that his company was not advocating a boycott of foreign ideas, concepts or even capital in the name of going Swadeshi. Speaking at the India Economic Conclave in Mumbai, Balkrishna even said his company was even open to […]
Parag Milk Foods, the maker of Gowardhan butter and cheese, reported pretax profits that more than doubled on year, benefiting from the higher leverage afforded by sales that went up by 21% on year. On a sequential basis, however, the company’s performance in Jan-Mar quarter was largely comparable to that of Oct-Dec. Operating profit (EBITDA) […]
Personal care products maker Emami Ltd reported a 12% growth in fourth-quarter revenue, but profit levels were impacted to due to a sharp increase in material costs and the write-off of a tax credit. The company posted revenue of Rs 617 cr for the quarter, but net profit fell to Rs 60 cr from Rs […]
Battery and electrical goods maker Eveready Industries India said it will float a joint venture the Wings Group of Indonesia to enter the market of fast moving consumer goods (FMCG) in India. Eveready will acquire 30% shares in the new company, with the remaining held by Universal Wellbeing Pte. Ltd, part of the Wings Group. […]
Hindustan Unilever, the country’s largest fast-moving consumer goods maker, reported a 17% increase in its like-to-like top line and an 11% growth in sales volumes for the October December period when compared to the previous year. The previous year’s sales were disrupted by demonetization. The total revenue, including tax, generated by the company rose to […]
Tata Chemicals Limited reported flat revenue for the quarter ended September, partly due to the impact of the GST, but net profit from continuing operations was up 52%. On a like to like basis, said the company, revenue was up 2.6%. As reported, revenue was at 3,462 Cr and net profit at Rs 273 cr. […]
Tata Global Beverages, the world’s second largest tea company, said it is evaluating the possibility of entering the cafe business and has launched its first pilot outlet at Indira Nagar in Bangalore. The outlet, called ‘Tata Cha’, will offer a wide variety of teas as well as snacks. “Tata Cha will specialise in serving freshly […]
Dabur India, one of the world’s biggest manufacturers of natural FMCG products, reported a slight revenue decline for the second quarter, but net profit rose marginally. Dabur’s Sept quarter revenue was hit by a steep appreciation in the currencies of several of the countries where the company sells its wares, it said. Adjusted for currency […]
ITC Ltd said its performance during the second quarter was relatively subdued due to “severe pressure” on the cigarette industry and sluggish demand conditions prevailing in the FMCG industry. Operating conditions in the Agri Business and Hotels Segment also remained challenging, it said. On a comparable basis, Gross Sales Value’ stood at Rs 16,391.58 crores […]
Packaged food company Nestlé said it would pass on to consumers any reduction in tax rates due to the introduction of the goods and services tax tomorrow. Companies are not obliged to pass on the benefit of lower taxes to consumers, and many are unlikely to. The Swiss giant said it won’t be one of […]
FMCG company Uflex said it launched new pouche for liquids like ghee or clarified butter for long shelf life. The pouch with sonically sealed spout has been offered to Paras Dairy for packing it’s ghee. Uflex, founded in 1983, is India’s largest end-to-end flexible packaging company. Jeevaraj Pillai, Joint President, Packaging and New Product Development, […]
Agri and Food FMCG company Ruchi Soya Industries Ltd. said it signed an agreement with the Government of Arunachal Pradesh to boost palm oil production through development of quality palm plantations and human capacity building. With this agreement, Ruchi Soya Industries Limited now has obtained permission for oil palm development in 45,000 hectares, covering 5 […]
Cognizant said that it has entered into a partnership with Future Group, an Indian multi-brand retailer, to transform its consumer goods business, Future Consumer Limited (FCL), into a connected enterprise. “In an era where data, insights and supply chain intelligence are crucial ingredients for turning success into market leadership, Cognizant’s technology, business process, platform and […]
