Tuesday, January 21, 2014

EMAMI LTD - RESULTS FOR = Q3 FY 2013-14 - NET SALES UP7%; NET PROFIT UP 31% YoY



Emami Limited

Results For Q3 FY 2013-14

(Q E Dec,2013)

Emami Limited has produced very good results for the third quarter ending December, 2013.

Net sales have gone up to Rs.584.67 Cr; up by 43.75% from Q2 FY 14 (Rs.406.74 Cr); and up by  6.57% from Q3 FY 13 (Rs.548.65 Cr)

Total expenses  are well under control at Rs.414.58 Cr; up by 27.45% from Q2 FY 14(Rs.325.30 Cr); and down by -0.92% from Q3 FY 13 (Rs.418.42CR)

Profit from operations stands at Rs.     170.09 Cr ; up by 108.85% from Q2 FY 14 (Rs.81.44 Cr); and up by 30.61% from Q3 FY 13 (Rs.130.23 Cr).

Other income     stands at Rs.12.20 Cr ; down by     -33% from Q2 FY 14 (Rs.18.21 Cr); and up by  22% from Q3 FY 13 (Rs.10.00 Cr).

Finance costs    stands at Rs.1.22 Cr ; down by       -12.23% from Q2 FY 14 (Rs.1.39 Cr); and down by  -21.29% from Q3 FY 13 (Rs.1.55 Cr).

Profit  before tax     stands at Rs.181.07 Cr ; up by 84.28% from Q2 FY 14 (Rs.98.26 Cr); and up by    30.57% from Q3 FY 13 (Rs.138.68 Cr).

Tax expense      stands at Rs.30.39   Cr ; up by 65.97% from Q2 FY 14 (Rs.18.31 Cr); and up by  27.96% from Q3 FY 13 (Rs.23.75 Cr).

Net Profit stands at Rs.150.68 Cr ; up by   88.47% from Q2 FY 14 (Rs.79.95 Cr); and up by       31.11% from Q3 FY 13 (Rs.114.93 Cr).

Face Value of the share is Rs.1.

Paid-up equity  stands at Rs.22.70Cr; compared to Rs.15.13 cr in Q3 FY 13.

Basic EPS on a FV of Rs.1 stands at Rs.6.64; compared to  Rs.3.52 in Q2 FY 14; and Rs.7.6 in Q3 FY 13

Percentage of  PUBLIC holding  stands at 27.26% in the company.

The company recommended an interim dividend of Rs 3 per equity share.

Results Table

EMAMI
Q3FY14
%Dif QoQ
Q2 FY14
%Duf YoY
Q3FY13
Net sales
58467
43.75
40674
6.57
54865
Cost of materials
16439
23.2
13343
4.37
15750
stock-in-trade
2675
-9.96
2971
-42.79
4676
Changes in inventories
1338
-198.45
-1359
222.41
415
Employee benefits
3565
-3.02
3676
13.5
3141
 Depreciation
1609
-48.77
3141
-48.06
3098
Other expenses
15832
47.16
10758
7.25
14762
Total expenses
41458
27.45
32530
-0.92
41842
Profit from operations
17009
108.85
8144
30.61
13023
Other income
1220
-33
1821
22
1000
Finance costs
122
-12.23
139
-21.29
155
Profit  before tax
18107
84.28
9826
30.57
13868
Tax expense
3039
65.97
1831
27.96
2375
Net Profit
15068
88.47
7995
31.11
11493
Face Value (in Rs.)
1
0
1
0
1
Paid-up equity
2270
0
2270
50.03
1513
Basic EPS
6.64
88.64
3.52
-12.63
7.6
Per % of PUBLIC holding
27.26
0
27.26
0
27.26


Over the first nine months (April to December 2013) the company repositioned the Boroplus brand, launched a face-wash and moisturising lotion, re-launched the Fair and Handsome brand and roped in Bipasha Basu and Milkha Singh to endorse Boroplus Anti-Pollution face-wash and Zandu Kesari Jivan.

The company says – 

Despite depressed market conditions due to sluggish economy, high inflation and erratic weather, Emami has been able to sustain modest growth.

While demand for the company's products was good, leading to continuous increase in market share in key categories, a delayed and erratic winter affected offtake.

International business has performed well, with aggressive growth in GCC (Gulf Cooperation Council) and SAARC countries. Effective cost management and easing of input prices has helped improve margins and report higher profits.

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