Jyothy Labs Q4FY21 Results. Jyothy Labs Limited, one of the leading Indian FMCG companies announced today its financial results for the quarter ended 31 March 2021. The Company delivered sales of ₹ 495 crores, increase of 26% value growth (FMCG sales grew by 27.3%) against the same period last year.
The Company posted good results backed by recovery across all channels. Although the quarter had an impact of the second wave lockdown, the commitment from all stakeholders delivered healthy overall performance. The company’s focus on developing innovative techniques to market its brands has been a strengthening aid for the individual brand portfolios.
Being agile, execution led by digital mind-set and listening actively to consumer demand have been a driving force for the Company in the hour of crisis. The Company has been continuously engaged with strengthening its communication through advertisements and digital engagement. The Company’s move towards cost rationalisation, enhancing advertisement spends and presenting innovative brands had been at the forefront of driving growth.
The quarter gone by also witnessed demand resurgence backed by increased consumer spending and overall trade acceleration. With this, there has been a substantial increase in revenues across rural and urban trade. Modern Trade stores (‘MT’) and Canteen Stores Department (‘CSD’) operations have seen improvement. Overall growth has been encouraging and affirmative.
FINANCIAL HIGHLIGHTS (Jyothy Labs Q4FY21 Results over same period last year)
Net Sales at Rs. 495 Crores, up by 26% (FMCG Sales up by 27.3%).
EBITDA improved to 14.3% from 10.3% at Rs. 70.9 Crores, up by 74.8%.
Profit before tax and exceptional item at Rs. 56.3 Crores, up by 142.4%.
Net Profit at Rs 27.3 Crores after exceptional item of Rs 23.5 Crore, up by 2.6% (Exceptional Item pertains to excise duty receivable for previous years of Rs 23.5 crores written off pursuant to change in the government policy).
FINANCIAL HIGHLIGHTS (Yearly FY2021 results as against FY2020)
Net Sales at Rs. 1909 Crores, up by 11.6% (FMCG Sales up by 13.1%)
EBITDA improved to 16.5% from 14.7% at Rs. 314.5 Crores, up by 25.3%
Profit before tax and exceptional item at Rs. 258.1 Crores, up by 39.3%
Net Profit at Rs. 190.7 Crores after exceptional item of Rs 23.5 cr, increased by 17.3%.
Net Debt Free. Net Cash balance as at March 31, 2021 of Rs 76.89 Crore vs Net Debt balance of Rs 254 Crore as at March 31, 2020
The Board of Directors have recommended a dividend of Rs 4 per equity share of Rs 1 each for the year ended March 31, 2021
FABRIC CARE – Fabric Whitener, Fabric Enhancer, Bar Soap and Detergent Powder. Fabric Care sales increased by 15.7% for Q4 FY2021 over same period last year. The segment has seen significant improvement as compared to previous quarters with easing of mobility during the quarter.
DISHWASHING – Dish Wash Bar, Liquid, Gel, Powder and Scrubbers.
Dishwashing sales increased by 33.2% for Q4 FY2021. The growth is supported by increased in-house consumption, augmented emphasis on hygiene and strong distribution focus across all channels. Besides, smaller SKUs have gained acceptance and are selling strong in rural markets thereby thrusting growth in revenues and individual brand trajectory.
HOUSEHOLD INSECTICIDES – Mosquito Repellent Coil, Incense Sticks and Liquid Vaporizer. Household Insecticides sales increased by 35.8% for Q4 FY2021. The seasonal sales have been satisfactory this quarter which has been aided with preventive measures towards health by consumers.
PERSONAL CARE – Body Soap, Face Wash, Hand Wash, Sanitizer and Toothpaste. Personal Care Sales have increased by 38.4% for Q4 FY2021 over same period last year. Our Neem based Margo portfolio of Soaps, Handwash and Sanitizers continues to register good growth as hygiene is of utmost importance for consumers.
Commenting on the financial performance of Q4FY2021, Ms. M R Jyothy, Managing Director, Jyothy Labs Limited said “We started this year with a positive note inspite of challenges faced due to the ongoing pandemic. Our performance for the year have been satisfactory backed by brand launches and improvement in market share across categories.