At its first-ever investor day, which the company held for both its entities - PGHH and Gillette India, the firm noted that commodity prices continue to remain high
The prices of edible oils, however, may increase from December through April-May next year due to the impact of El Nino in oil-producing countries
Investors have shunned consumer stocks with shares of HUL, ITC, Britannia, Godrej Consumer, Tata Consumer, and Nestle India dropping in the range of 1-11 per cent in a month
The company clocked 16.2 per cent year-on-year (YoY) rise in consolidated net profit to Rs 5,104.9 crore in Q1FY24
Diversified conglomerate ITC Limited on Friday said the FMCG business has immense potential for growth with its brands commanding an annual consumer spend of Rs 29,000 crore. Speaking at the 112th AGM of the company, ITC chairman Sanjiv Puri told shareholders in his address that the FMCG brands are being exported to several countries and the business vertical has immense growth potential due to the rising per capita income of the people. "The ITC Next strategy for the FMCG business is to build a future-ready portfolio. With more than 25 brands at the moment, the annual consumer spend is around Rs 29,000 crore", Puri said. He said that the addressable market for the FMCG vertical of ITC is USD five trillion. "The business has immense opportunity to harness this potential", Puri added. Regarding the hotel business, the ITC board had given in-principle approval to demerge the vertical and spin it off into a new entity. Puri said that the business is well poised to capitalise on the .
The biscuit maker's revenue and profit-after-tax (PAT) 8.4/35.6 per cent year-on-year growth in Q1FY24 were below consensus estimates by 2.4/10 per cent, respectively
So far this calendar year, Nestle India has gained over 16 per cent, as against a 9 per cent surge in the S&P BSE Sensex
EBITDA margins for the quarter improved 710 bps to 17.1 per cent against 10 per cent in a year ago quarter, due to moderating input costs.
ITC will hold a 40 per cent stake in ITC Hotels, and the rest 60 per cent, will be held by the shareholders of the company proportionate to their shareholding
Thus far in calendar year 2023, the share price of ITC has appreciated by 48 per cent, while HUL's stock price has gained 1.3 per cent and the Sensex 8.8 per cent, respectively.
HUL Q1FY24 preview: As per brokerages, earnings before interest, tax, depreciation, and amortisation (Ebitda) margins is likely to expand up to 63 basis points (bps) YoY to 23.4 per cent
Marico says rural demand remained elusive in April-June
The year is likely to see a higher volume amid a gradual recovery in rural demand and a stable growth in urban demand, but prices are expected to be range-bound
ITC outperformed the market for the eight straight months, has rallied 37% thus far in the calendar year 2023, as compared to 3.8 per cent rise in the S&P BSE Sensex.
At the bourses, shares of HUL surged 25 per cent in March 2022-23 period, as against 0.7 per cent rise in the S&P BSE Sensex, during the same period
Analysts raised their cigarette volumes growth estimate for FY24E considering market share gains from illicit cigarettes as well as strong growth in high price cigarettes.
Encouraged by volume growth, margin improvement and recovery in rural sales, India's top fast-moving consumer goods (FMCG) companies are now back to their normal growth cycle as they step up investments as well as spending on advertising and marketing. FMCG companies are chasing volume growth again after a gap of a few quarters, offering higher grammage and price cuts thanks to inflationary pressures softening on key raw materials for everything from soaps to food items. Hindustan Unilever (HUL), Dabur, Marico, Godrej Consumer Products, ITC, Tata Consumer Products and Nestle reported volume recovery in the March quarter and said they expect a gradual pickup in consumption in FY24. "The prospects of a sustained recovery have strengthened. After five quarters of volume decline, the sector has posted volume growth, Marico MD and CEO Saugata Gupta said in the company's earnings conference call. "Urban consumption has been steady while rural is showing some convincing signs of having ...
The FMCG index has risen 10 per cent since the start of the current year, with ITC, Nestle India, Radico Khaitan, and Varun Beverages zoomed 31 per cent, 12 per cent, 11 per cent and 10 per cent each
Marico Q4 result: For FY23, the company's net profit was up 6.2 per cent to Rs 1,302 crore from Rs 1,225 crore in FY22
Britannia Industries Q4 preview: Though higher advertising spends may have some impact on EBITDA margins sequentially, price hikes would help expand margins up to 231 basis points (bps), said analysts