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New Delhi, Apr 9 () FMCG major Marico said its January-March quarter EBITDA may see "modest decline" following disruptions on account of Covid-19 pandemic and associated lockdowns. During the lockdown period, there was a spike in the sales of its cooking oil brand Saffola as people were stocking household items, but overall, it had a "low single-digit volume decline" in the domestic business, Marico said in a regulatory filing. Though its India business had signs of "improvement across categories until early March", but it was offset by disruptions in the last 12 days in March, following lockdown in some states to contain the outbreak of Covid-19, Marico said. "Revenue decline (both in India and International business), coupled with an unfavourable mix in the India business, will translate into a modest decline in earnings before interest, tax, depreciation and amortisation (EBITDA) in this quarter vs the corresponding quarter last year," Marico said. According to the company, in such "unprecedented times" it has started an "aggressive cost management exercise" to mitigate the impact of reduced sales. The company aims to drive sustained profitable volume-led growth over the medium term, through strengthening the franchise network in core categories, it said. Marico would update the results for the quarter and financial year ended March 31, 2020, once it receives board approval. "Overall, the India business posted a low single-digit volume decline in the quarter, with very skewed high growth in the Saffola portfolio," Marico said adding overall secondary growth in the quarter was in low single digits. Moreover, during the quarter, traditional trade, which was already reeling under liquidity constraints, was further weakened. Presently, production is currently suspended at Marico's other manufacturing units and shall commence once government approvals are received. On distribution network, the company said it is "focusing on movement of essential food and grocery items to the consumers subject to necessary approvals from local government authorities and taking all possible efforts to ensure uninterrupted supplies of essential products to our customers across channels (General Trade, Modern Trade and ECommerce) within the existing constraints". Marico's international business was also impacted due to the pandemic of Covid-19. "With many of the territories experiencing partial or complete lockdown in March, the international business recorded a mid-single digit decline on a constant currency basis," it said. India is presently going through an unprecedented complete lockdown of three weeks, ending on April 14, to prevent the spread of coronavirus. KRH DRRDRR

COVID-19: Marico says Q4 EBITDA may see "modest decline"

New Delhi, Apr 9 () Two leading FMCG companies Godrej Consumer Products and Marico have reported disruptions in their domestic and global businesses and expect a decline in their Q1 (January-March) revenue due to the Covid-19 crisis.Godrej Consumer Products Ltd (GCPL) said it would report "high teens revenue decline" in the January-March quarter.While Marico said its Q1 EBITDA may see "modest decline" following disruptions in trade impacted by dip in the revenue of the company on account of pandemic of Covid-19 and lockdown, which has disrupted the market.Marico has started an "aggressive cost management exercise" to mitigate the impact of reduced sales in such "unprecedented times" . "Revenue decline (both in India and International business), coupled with an unfavourable mix in the India business, will translate into a modest decline in earnings before interest, tax, depreciation and amortisation (EBITDA) in this quarter vs the corresponding quarter last year, Marico said in an quarterly update.Marico's international business was also impacted due to the pandemic of Covid-19. "With many of the territories experiencing partial or complete lockdown in March, the international business recorded a mid-single digit decline on a constant currency basis," it said.GCPL witnessed steady demand till mid-March, the lockdown in many geographies resulted in "virtually no sales" in the latter part of the month, thus significantly impacting sales performance for the quarter.In the domestic market, it has witnessed a double-digit decline in the performance of its distributors and is awaiting data on the stock levels on general trade shelves, GCPL said in a Quarterly Update 4Q FY20''."In India, demand was steady till the outbreak of Coronavirus and slumped due to disruption of both back end and front end supply chain in the last twelve days of March. March also happens to be the start of the season for a few of our categories like soaps and household insecticides."Consequently, we will report around high teens revenue decline in the quarter," said GCPL.In the international segment, the Godrej Group firm expects to record "around mid single digit sales decline" in rupee terms, resulting in "consolidated sales declining around low double digit in INR terms for the quarter".GCPL gets around half of its revenue from the foreign markets."We believe there should be a gradual bounce back in the near term driven by restoration of the supply chain, higher consumption for Personal Wash and an ongoing favourable season for Household Insecticides," it said. GCPL further said it has "continued to gain market shares across key categories of operations".While Marico said it is "focusing on movement of essential food and grocery items to the consumers subject to necessary approvals from local government authorities and taking all possible efforts to ensure uninterrupted supplies of essential products to our customers across channels (general trade, modern trade and e-commerce) within the existing constraints". India is presently going through an unprecedented complete lockdown of three weeks, ending on April 14, to prevent the spread of the virus. KRH MKJ

FMCG firms Godrej Consumer, Marico stare at revenue hit amid Covid-19 crisis

<ul><li>The SGX Nifty was trading 0.18% lower at 7:47 am, indicating a tepid opening for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst negative cues from the global markets, the Indian equities are likely to open flat on Wednesday. The SGX Nifty was trading 0.18% lower at 7:47 am, indicating a tepid opening for Nifty50. The US stock markets closed lower as concerns about the economic impact of surging coronavirus cases and bleak stimulus outlook sent shares tumbling. The Dow Jones Industrial Average closed 0.80% lower. And, the S&amp;P 500 fell 0.30% on Tuesday. These are the stocks to watch out for during the trading session on October 28: Hero Motocorp The country’s largest two-wheeler maker, Hero MotoCorp and US bike maker Harley-Davidson have signed a <a href="https://www.businessinsider.in/business/auto/news/hero-motocorp-partners-with-harley-davidson-to-sell-harley-bikes-in-india/articleshow/78892210.cms?upcache=2">distribution agreement for the Indian market</a>. Hero Moto will sell and service Harley-Davidson motorcycles and sell parts and accessories and general merchandise riding gear and apparel through a network of brand-exclusive Harley-Davidson dealers and Hero’s existing dealership network in India. Hero Moto will also <a href="https://www.businessinsider.in/business/auto/news/hero-motocorp-sold-more-bikes-in-second-quarter-and-that-will-aid-revenue-growth-but-profit-may-remain-under-pressure/articleshow/78892776.cms">report</a> its second-quarter earnings today. The shares of Hero Motocorp ended 0.6% higher on Tuesday. Tata Motors Tata Motors reported a consolidated net loss of ₹307.26 crore for the second quarter ended September 30. The company’s total revenue from operations declined to ₹53,530 crore in the quarter under review. However, its luxury car subsidiary Jaguar Land Rover (JLR), <a href="https://www.businessinsider.in/business/auto/news/tata-motors-loss-widens-to-307-crore-in-the-second-quarter-despite-jlr-returning-to-profit/articleshow/78891836.cms">returned to profit </a>with significant positive cash flow in the quarter. The shares of Tata Motors ended 2.21% higher on Tuesday. Airtel The telecom giant, <a href="https://www.businessinsider.in/business/telecom/news/airtel-beats-analyst-expectations-reports-record-quarterly-revenue-arpu-rises-to-162/articleshow/78891875.cms">Bharti Airtel reported its highest-ever quarterly consolidated revenue</a> on the back of a rise in data usage and higher realisations, helping it narrow losses in the July-September quarter. Consolidated revenue rose 22% to ₹25,785 crore in the September quarter while net loss narrowed to ₹763 crore. The shares of Airtel ended 0.17% higher on Tuesday. ICICI Bank The private lender bank ICICI Bank <a href="https://www.livemint.com/companies/news/no-us-sec-action-against-us-says-icici-11603848919125.html">said the US Securities and Exchange </a>Commission (SEC) does not intend to take any enforcement action against the bank related to its investigation into the lender’s loan impairment provisions under the US generally accepted accounting principles (GAAP). The shares of ICICI Bank ended 1.45% higher on Tuesday. JSW Steel JSW Steel informed investors that it had completed the acquisition of Asian Colour Coated Ispat through its wholly-owned subsidiary JSW Steel Coated Products Limited. The shares of JSW Steel ended 0.24% higher on Tuesday. Adani Gas The board of Adani Gas will meet on November 3 to consider raising up to $400 million through foreign currency bonds. The shares of Adani Gas ended 2.25% higher on Tuesday. Cochin Shipyard Cochin Shipyard has inked a pact with Italy’s Fincantieri for cooperation in areas like shipbuilding and ship repair. Fincantieri is one of the world’s largest shipbuilding groups and a leader in diversification and innovation with over 230 years of history and more than 7,000 vessels built, operating 18 shipyards in four continents. The shares of Cochin Shipyard ended 0.61% lower on Tuesday. L&amp;T, Axis Bank, Marico, Titan and Dr Reddy’s L&amp;T, <a href="https://www.businessinsider.in/finance/banks/news/axis-bank-q2-earnings-indias-third-largest-private-lender-to-see-slower-loan-growth-and-collections/articleshow/78894218.cms">Axis Bank</a>, Marico, Titan and Dr Reddy’s, among others are slated to report their second-quarter earnings today. SEE ALSO:<a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-is-looking-to-expand-operations-in-canada-if-h-1b-visa-issues-persist/articleshow/78884838.cms" data-type="tilCustomLink"> EXCLUSIVE: HCL Tech is expanding operations in Canada as H-1B visa issues persist</a> <a href="https://www.businessinsider.in/business/news/bezos-vs-ambani-battle-eight-questions-regarding-amazons-disclosures-of-future-deal-will-be-in-the-spotlight/articleshow/78883583.cms" data-type="tilCustomLink">Bezos vs Ambani battle: Eight questions regarding Amazon's disclosures of Future deal will be in the spotlight</a> <a href="https://www.businessinsider.in/education/news/how-to-register-for-neet-counselling-2020-online/articleshow/78884869.cms" data-type="tilCustomLink">NEET counselling 2020 registrations begin today: Here’s all you need to know</a>

Top stocks to watch — Hero Moto, Airtel, Tata Motors, ICICI Bank, Adani Gas, Marico, Titan, Dr Reddy’s and others

<ul><li>Marico has partnered with Big Bazaar to launch a recycling program. </li><li>‘<keyword id="8300820" type="UNKNOWN" weightage="100" keywordseo="Plastic-Lao-Paise-Kamao">Plastic Lao Paise Kamao</keyword>’ initiative encourages people to submit plastic bottles across 21 key Big Bazaar outlets in and around Mumbai and get back ₹10, irrespective of the size of the bottle. </li><li>The program will be supported by in-store announcements through radio jingles, shelf wobblers, collection units, posters, as well as promotional messages that will be shared with customers. </li></ul>Marico has partnered with Future Retail’s format Big Bazaar to launch a plastic recycling program ‘Plastic Lao Paise Kamao’. Aligned with the national agenda on plastic waste management, this initiative is aimed at building awareness amongst consumers around plastic recycling and encourages them to take an active role. The program enables consumers to submit plastic bottles across 21 key Big Bazaar outlets in and around Mumbai. For each bottle that is submitted, Marico, in association with Future Retail, offers 10 to consumers, which is instantly credited to their Future Pay wallet and can be redeemed against their purchase. The incentive provided is for all products of Marico and also for products of Future Consumer, irrespective of the size of the bottle. The program will be supported by in-store announcements through radio jingles, shelf wobblers, collection units, posters, as well as promotional messages that will be shared with customers. The Government of India has embarked upon several projects to increase awareness around plastic recycling and to curb the negative environmental impact of plastic waste. This initiative is in line with the Government’s efforts and echoes the sentiments of its ‘Swachhatha Hi Seva’ mission. Jitendra Mahajan, Chief Operating Officer- Supply Chain &amp; IT, Marico, said, “This initiative is part of Marico’s broader vision and commitment to address plastic waste management. While 94 percent of Marico’s packaging material used is recyclable, we need to do more. Managing plastic waste is a complex challenge and needs collective action engaging consumers and other stakeholders. We are very happy to join hands with Future Retail to drive the plastic circular economy agenda aligned to the “Swachhatha Hi Seva” mission of the Government. Through this initiative, we wish to create awareness about plastic waste pollution and drive change in the consumers’ behaviour”. Sadashiv Nayak, Business Head, Big Bazaar, said, “Every material has a value through-out its life cycle, it is this circular economy approach that encourages customers, businesses and the industry to participate as champions of change. The Plastic Lao Paise Kamao – a closed loop plastic recycling campaign, initiated in September 2018 is part of our wider sustainability agenda to reduce our ecological footprint. The program launched in Big Bazaar stores in Mumbai and parts of Maharashtra has seen an increasing number of customers bring back bottles to stores and gain a financial reward in their Future Pay wallets. As a retailer, Big Bazaar is aligned with the Government’s Swachh Bharat Mission and is taking necessary actions in keeping with the Prime Minister’s call for a plastic free India.”

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COVID-19: Marico says Q4 EBITDA may see "modest decline"

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FMCG firms Godrej Consumer, Marico stare at revenue hit amid Covid-19 crisis

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Top stocks to watch — Hero Moto, Airtel, Tata Motors, ICICI Bank, Adani Gas, Marico, Titan, Dr Reddy’s and others

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Marico is giving ₹10 for every plastic bottle that is returned at Big Bazaar outlets in Mumbai

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