Kolkata based Emami Ltd, which is undergoing a major distribution overhaul, is likely to post a stressed balance sheet for the first quarter of the current fiscal year, which coincides with the summer sales.
According to Mohan Goenka, director at Emami Ltd, its wholesale channel, which currently comprises 52 per cent of its sales network, has been reeling under stress as an after-effect of demonetisation and this channel can again be hit in the near term once the Goods and Services (GST) tax rolls out.
"Particularly the southern wholesale channel is on a de-stocking mode. Overall, this line of sales channel was