Jyothy Labs Q3 FY23 Results- FOCUSSED EXECUTION DRIVES HIGHER GROWTH MOMENTUM

RESULTS FOR THE QUARTER ENDED DECEMBER 31, 2022

FOCUSSED EXECUTION DRIVES HIGHER GROWTH MOMENTUM

Mumbai, January 25, 2023: Jyothy Labs Limited, one of the leading Indian FMCG companies announced today its financial results for the quarter ended December 31, 2022. The Company delivered sales of           Rs 613 crores, increase of 13.7% growth against the same period last year.

 

The Company continues to deliver consistent double digit revenue growth for the quarter as well as on a 2 year CAGR basis.  The business has been resilient inspite of high commodity inflation impacting the consumption across categories. 

We have been focussed only on execution to drive higher operating revenues and manage margins in the inflationary environment. Our strategy is to build scale and gain market share backed by our enhanced distribution including reaching out to newer geographies, increase brand visibility and product innovation initiatives. 

Our overall growth across all channels and markets have been encouraging and affirmative.

FINANCIAL HIGHLIGHTS (Q3FY2023 results over same period last year)

·         Net Sales at Rs. 613 Crores, increased by 13.7%

·         EBITDA margin at Rs. 84.4 Crores (13.8% of Net sales), increased by 37.9%

·         Net Profit at Rs 67.4 Crores, increased by 77.2% 

SEGMENT PERFORMANCE:

FABRIC CARE - Fabric Whitener, Fabric Enhancer, Bar Soap, Detergent Powder and Liquid Detergent

Fabric Care sales increased by 26% for Q3FY23 over same period last year. The segment has seen improvement in sales across all brands.  Our expanded distribution has helped reaching out to consumers having affordability of our detergent powder segment.

DISHWASHING - Dish Wash Bar, Liquid, Gel, Powder and Scrubbers

Dishwashing sales increased by 10% for Q3FY23 over same period last year. Our distribution focus across channels has helped to reach out to new consumers and delivered consistent double digit growth.  Further, Lower Unit Packs (‘LUP’) continue to gain acceptance and are selling strong in the rural markets thereby thrusting growth in revenues. 

PERSONAL CARE - Body Soap and Toothpaste

Personal Care Sales increased by 11.6% for Q3FY23 over same period last year.  Our Neem based Margo Soap register a good growth as consumers prefer the soap for its authenticity and heritage of 100 years which has strengthened the brand equity over the years.

HOUSEHOLD INSECTICIDES - Mosquito Repellent Coil, Liquid Vaporizer and Incense Sticks

Household Insecticides sales decreased by 15.6% for Q3FY23 over same period last year.  The decline is primarily due to degrowth in the category owing to seasonal and industry issues. Our growth outlook is positive.  On a 3 year CAGR basis, the portfolio is up by 0.7%. 

Commenting on the financial performance of Q3FY2023, Ms. M R Jyothy, Managing Director, Jyothy Labs Limited said “We continue to drive execution led growth to build scale.  This will deliver value for all the stakeholders.  Consistent market share gains builds a stronger operating environment which further drives future growth opportunities. 

We have been witnessing a good traction for all our product categories and are determined to achieve consistent growth momentum for future.”

About Jyothy Labs Limited:

Jyothy Labs Limited (JLL), one of the leading Indian FMCG Companies was founded in 1983 with a single brand ‘Ujala’ which has evolved into a multi brand, BSE & NSE listed Company involved in the manufacturing and marketing of products in fabric care, dishwash, mosquito repellent and personal care.

 

The Company has leading brands like Ujala, Maxo, Exo, Henko, Pril, Margo, Mr. White, MoreLight, Neem, and Maya that are well-known and established brands in their respective categories.