Jyothy Labs consolidated results for the quarter ended March 31, 2023
Mumbai, May 04: Jyothy Labs Limited, one of the leading Indian FMCG companies announced today its financial results for the quarter ended March 31, 2023. The Company delivered sales of Rs 617 crores, increase of 12.8% growth against the same period last year.
We have focused on top line growth and the Company continues to deliver healthy performance across all categories and channels with double digit growth for the quarter as well as for the year and on a 2 year & 3 year CAGR basis.
During the year, our direct reach has crossed 1.1 million retail outlets which has further strengthened our distribution augmented by implementation of Botree as Distributor Management System.
To maintain a healthy balance between higher volume growth, market share and margins, we have enhanced our sales efficiencies with use of digital technology, higher allocation of resources towards brand building initiatives and manufacturing capacities.
FINANCIAL HIGHLIGHTS (Q4FY2023 consolidated results over same period last year)
- Net Sales at Rs. 617 Crores, up by 12.8%
- EBITDA margin at 14.8% from 10.5% at Rs. 91.3 Crores, up by 59.4%
- Net Profit at Rs 59.3 Crores, up by 60.4%
FINANCIAL HIGHLIGHTS (FY2023 consolidated results as against FY2022)
- Net Sales at Rs. 2486 Crores, up by 13.2%
- EBITDA margin at 12.7% from 11.3% at Rs. 315.9 Crores, up by 27.2%
- Net Profit at Rs. 239.7 Crores, up by 50.7%
- The Company is Debt Free. Cash balance as at March 31, 2023 of Rs 283 Crore.
The Board of Directors have recommended a dividend of Rs 3 per equity share of Rs 1 each for the year ended March 31, 2023.
FABRIC CARE – Fabric Whitener, Fabric Enhancer, Bar Soap, Detergent Powder and Liquid Detergent.
Fabric Care sales increased by 20.1% for Q4FY23 over same period last year and 29.3% for the full year. The segment has seen improvement in sales across all brands with strong value proposition and focus on distribution. Our foray into liquid detergents and mid-price detergent powder segment have witnessed good demand.
DISHWASHING – Dish Wash Bar, Liquid, Gel, Powder and Scrubbers.
Dishwashing sales increased by 8.7% for Q4FY23 and 8.4% for the full year. The growth has been backed by unique value offering across SKU’s.
PERSONAL CARE – Body Soap, Face Wash, Hand Wash and Toothpaste.
Personal Care Sales increased by 12.1% for Q4FY23 over same period last year and 8.7% for the full year. Our Neem based Margo Soap with its natural benefits proposition has delivered a robust performance.
HOUSEHOLD INSECTICIDES – Mosquito Repellent Coil, Liquid Vaporizer and Incense Sticks
Household Insecticides sales have grown by 0.9% for Q4FY23 and degrew by 20.2% for the year. The decline is due to seasonality impacting the demand in our core markets and proliferation of illegal incense sticks in the market which has impacted the demand for our products. We believe these challenges are transitory and the growth outlook is positive.
Commenting on the financial performance of Q4FY2023 and FY 22-23, Ms. M R Jyothy, Managing Director, Jyothy Labs Limited said “We have delivered a healthy performance for the quarter and for the year inspite of all the headwinds. Last 3 years have seen a consistent double digit revenue growth. Our focus is on relentless execution and drive towards higher business scale.
Our product portfolio is diversified and it offers an opportunity to build each of our brands as leaders in their respective categories given their unique proposition. We believe in offering the best value to the consumers and are committed for higher growth for all our stakeholders. ”