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<ul><li>Price cuts taken in mass segments will erase pricing-led growth seen in FMCG companies.</li><li>Few analysts are confident that price cuts will add to volume growth in Q2.</li><li>Without a meaningful rural recovery, volume growth will remain slow. </li></ul>It might be a slow second quarter for FMCG companies with hazy volume recovery and tapering raw material effects. The rise of new and local players have been eating into the business of top FMCG players. And, they chose to <a href="https://www.businessinsider.in/business/news/soap-opera-fmcg-players-kick-off-price-war-to-bring-back-whats-lost/articleshow/103657469.cms">take price cuts in mass categories </a> during the quarter. Analysts are divided on how much price cuts will add to volume growth. A report by Centrum said that price cuts pushing are primary volumes but off-take lags. The demand for packaged foods is rising but hair oils, toothpaste categories saw falling volumes. “Selling prices have been rationalised given the drop in commodity costs but there has not been a commensurate increase in volumes yet,” said J M Financial. The pricing-led growth in FMCG companies is now a thing of the past. Without significant volume recovery, revenues are ecpected to remain subdued this quarter. “We expect low single digit volume growth and low-to-mid single-digit value growth for most FMCG companies, with the tapering of pricing growth due to price cuts and/or anniversarization of price hikes. The underlying rural demand remains subdued. Uptick, if any, would be optical off a low base,” said a report by Kotak Institutional Equities. Analysts believe that without a meaningful recovery in rural demand which is yet to pick up, volume recovery will remain slow. Even tapering inflation during the quarter has not improved the rural consumer sentiment due to unseasonal rains. Moreso, the festive consumption of discretionary items also comes with a lag this year due to the ‘Adhik Mas’ effect. Raw material benefits slip On the other hand, the margin growth seen last quarter due to lower raw materials will also taper off. The raw material index has moved up by 8-9% over the last three months. Between July and September, crude oil prices rallied by 20%, and commodities will not be as benign as they were in Q1. On a year-on-year basis however their costs will be lower, adding to margins due a favourable basis. “A favourable base would still drive strong year on year gross profit margin expansion and earnings for September quarter, but some of the margin gains would be in the base soon especially given the recent uptick in raw material prices,” said J M Financial. The stress of rising competition will also eat into margins in more ways than price cuts. Players will continue to ‘normalise’ brand-building investments that were run down during the hyper-inflationary phase in FY23. “Most companies have indicated that a large part of gross margin savings will be invested behind brands. Hence, operating margin expansion will be lower compared to gross margin expansion,” said Sharekhan. Investors will watch out for management commentary on how volume uptick in the second half of the year. And a picture on when rural India will see a full-fledged recovery. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div>

Price cuts might not bring in volume growth for FMCG majors in Q2 say analysts

<ul><li>The shares of <keyword id="6361485" type="General" weightage="20" keywordseo="marico" source="Orion">Marico</keyword> fell over 4% on Wednesday as the FMCG company’s revenue grew in single digit in the last quarter.</li><li>The company noted that the consumption trends remained subdued during the last quarter.</li><li>Marico also informed the stock exchange that it had to opt for a price hike across FMCG categories.</li></ul>The shares of Marico fell over 4% on Wednesday as the fast-moving consumer goods (FMCG) company’s revenue grew in single digit in the last quarter. The company's shares closed at ₹521.6 on April 6. Marico currently sits at a market capitalisation of ₹67,431 crore, or $8.9 billion. The 42-year-old company is yet to report its financial statement for the January to March quarter, or Q4, of fiscal year 2022. However, it did offer some not-so-strong update on April 5. The company, in the filings with the stock exchange, noted that the consumption trends remained subdued during the last quarter majorly due to weak rural sentiments and inflation in global commodities due to aggravating geo-political issues between Russia and Ukraine. Marico also informed the stock exchange that it had to opt for price hike across FMCG categories in order to cope up with the current inflation levels, which hurt the consumer wallets across rural and urban areas. “While companies affected price hikes across FMCG categories to cope with the cost-push, persistent inflation continued to hurt consumer wallets across rural and urban [areas]. As a result, FMCG volumes declined in the Jan-Feb’22 period on a year-on-year basis (per Nielsen),” Marico said in a statement. Despite the subdued update, Nomura has maintained a ‘buy’ call on the shares of Marico with a target price of ₹665. The global financial services company is of the view that Marico is a strong beneficiary of a “resilient core” and significant “future growth vectors”. Nomura has estimated consolidated revenue growth of 7.4 percent year-on-year (YoY) in Q4 of FY2022. Meanwhile, profit growth is estimated to be at 5% YoY and EBITDA (earnings before interest, taxes, depreciation, and amortisation) at 9%. Meanwhile, Macquarie expects a broadly flat profit and marginal volume growth for Marico in India. The brokerage firm has given it an “outperform” rating on the stock market with a target price of ₹600. CLSA, on the other hand, believes that Marico’s current valuation looks balanced. Therefore, it has given an “underperform” call on Marico with a target price of ₹530. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/tcs-marico-tata-steel-adani-enterprises-among-stocks-to-watch-out-for-on-april-6/slidelist/90675501.cms">TCS, Marico, Tata Steel, Adani Enterprises among stocks to watch out for on April 6</a> <a href="https://www.businessinsider.in/business/startups/news/josh-dailyhunt-parent-company-verse-raises-805-million-takes-valuation-to-5-billion/articleshow/90675633.cms" data-type="tilCustomLink">Josh, Dailyhunt parent company VerSe raises $805 million, takes valuation to $5 billion</a> <a href="https://www.businessinsider.in/business/auto/news/toyota-hilux-price-specification-features-in-india/slidelist/90667350.cms">All you need to know about the new heavy-duty pickup truck— Toyota Hilux</a>

A weak January-March quarter update has left Marico investors quite upset

<ul><li>Marico’s India Business delivers a volume growth of 21%.</li><li>More than 90% of the company’s domestic portfolio gains market share. </li></ul>In Q1FY22, Marico’s revenue from operations grew by 31% YoY to ₹2,525 crores (USD 346 million) with underlying volume growth of 21% in the domestic business and constant currency growth of 21% in the international business. In India, the FMCG giant witnessed positivity in the demand sentiment until late April, when stricter mobility restrictions were once again imposed in various states in response to the rising severity of the second COVID wave. Unlike the first wave, the pandemic affected deeper pockets of the country, but Marico’s business was not as disrupted as in the last year given that supply chains were able to weather localized and staggered lockdowns and retail stores operated for certain number of hours during the day. Growth in key portfolios also witnessed some impact due to relatively higher salience in South and West India, which saw heavier caseloads and extended lockdown restrictions. In addition, there was also a marginal correction (2-3% impact) of the historical revenue skew from Q1 towards the previous quarter (Q4FY21). Traditional trade continued to perform well with rural and urban growing in tandem. E-Commerce maintained its accelerated growth trajectory, while Modern Trade could only recover partially as lockdown-like curbs were back into effect in various states. CSD grew on a low base. The International business posted a strong broad-based recovery relative to the varying levels of impact in each of the markets in the base quarter. This was despite signs of moderation in demand witnessed due to the resurgence of COVID in Bangladesh and Vietnam towards the end of the quarter. Gross margin was down 759 bps YoY given the stark contrast in the cost of inputs consumed in the two quarters, as pricing interventions in the core portfolios could only partially alleviate the inflationary pressure. However, operating leverage benefits reduced the drop in EBITDA margin to 522 bps YoY. As a result, EBITDA was up 3% YoY and recurring PAT was up 8% YoY. Reported PAT was down 7%, due to exceptional gain in the base quarter. Other highlights relating to the quarter’s performance are as follows: <ul><li>∙ The core portfolios in the India business continued to log market share gains on a MAT basis, on the back of their market leadership position and strengthening equity.</li><li>∙ Traditional trade continued its healthy run with both urban and rural growing by 17% in volume terms. E-Commerce grew 61%, sustaining its strong momentum. Modern Trade and CSD grew 10% and 56%, respectively. ∙ Parachute Rigids grew 12% in volumes, posting growth in both core and non-core markets. The brand continued to gain volume market share of 80 bps (MAT Jun’21).</li><li>∙ Value Added Hair Oils grew 34% in volumes with each of the key brands clocking double-digit growth. The Company gained 70 bps volume market share to 37% (MAT Jun’21)</li><li>∙ The Saffola franchise, comprising Refined Edible Oils and Foods, delivered 24% volume growth and 60% growth in value terms. Saffola Edible Oils delivered low double-digit volume growth despite a strong base, on the back of investment in new markets and increasing household penetration. Saffola Foods grew by more than 100% in value terms, augmented by the new launches over the last 12 months. The base Oats franchise grew by 59% in value terms backed by increased penetration and market share gains. Saffola Honey continued to grow briskly on a sequential basis, and has garnered double-digit market share in key Modern Trade chains and consolidated 25%+ market share in E-Commerce. Saffola Oodles and Saffola Mealmaker Soya Chunks have been scaling up well.</li><li>∙ The Premium Personal Care (contributing less than 5% of revenues) recovered sharply on a low base but was still below pre-COVID levels, as discretionary consumption remained soft.</li><li>∙ In the International business, Bangladesh clocked 9% constant currency growth. South East Asia delivered 16% constant currency growth. MENA and South Africa recovered smarty on a low base.</li><li>∙ Advertising &amp; Sales Promotion grew by 27% YoY as the Company actively invested in its core franchises and recent Foods innovations, while maintaining a low-key in discretionary categories.</li></ul>

Marico's revenue from operations grew by 31% YoY to ₹2,525 crores in Q1FY22; advertising and sales promotion sees a growth of 27% YoY

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. <keyword id="84065" type="General" weightage="20" keywordseo="fmcg-companies" source="Orion">FMCG companies</keyword> 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 bottomed out." Foods continue to drive growth for the sector, while the home and personal care segment also entered positive territory after an extended slowdown. Marico, which owns popular brands like Saffola, Parachute and Livon, reported an 18.7 per cent increase in its consolidated net profit to Rs 305 crore for the fourth quarter ended March 2023 while sales rose 3.65 per cent to Rs 2,240 crore, driven by single-digit volume growth and moderation in commodity prices. HUL said rural areas have shown improvement with higher value growth sequentially. While HUL's volumes continue to fall, the extent of decline has reduced versus last quarter. "The slowdown in the FMCG market is bottoming out. This improvement was led by volumes, which have turned flat in this quarter, versus a mid-single-digit decline in the December quarter," said HUL CFO Ritesh Tiwari in its earnings call. The makers of popular brands such as Rin, Lux, Surf Excel and Pond's said it expects the price-volume growth to rebalance further. "We expect volumes to recover gradually due to high levels of cumulative inflation and the fact that consumption habits typically recover with a lag," he said. For the March quarter, HUL reported an increase of 12.74 per cent in its consolidated net profit to Rs 2,601 crore. Net sales rose 10.83 per cent to Rs 14,926 crore. However, HUL warned the near-term operating environment is likely to remain volatile due to global slowdown risk and uncertainty related to weather phenomena like El Nino and heatwaves. Abneesh Roy, Nuvama Group Executive Director for Institutional Equities, said the outlook for the <keyword id="495979" type="General" weightage="20" keywordseo="fmcg-industry" source="Orion">FMCG industry</keyword> was "positive" with volume growth and improvement in margins for most companies in FY24. "As raw material prices are cooling off, companies shall start paring prices via grammage increase or gradual price reductions. Price growth shall ease while volume growth will improve," he said. Roy also cautioned about the impact of El Nino and the "aggression" from billionaire Mukesh Ambani-led Reliance Industries Ltd, a known disrupter, which aims to be a big player in the USD 110-billion FMCG segment. Meanwhile, Godrej Consumer reported an 11.47 per cent increase in its India revenue to Rs 1,822.92 crore in the March quarter. This was led by volume growth of 11 per cent. Its home care segment, which consists of household insecticides and air fresheners, grew 14 per cent and 17 per cent, respectively. "We expect to build on the current momentum and deliver volume-led growth along with upfront marketing investments and improvement in profitability," said its Managing Director and CEO Sudhir Sitapati. Britannia Executive Vice-Chairman and Managing Director Varun Berry also expressed optimism. "Volume growth will be certainly much better than this year," he said. On commodity prices, Berry said there is deflation in prices of palm oil, laminates and corrugated material for packing but flour and milk prices are soaring. "There are certain brands and certain packs where we have already initiated price reductions or promotions," he said. In the March quarter, Britannia reported a 47.53 per cent jump in consolidated net profit to Rs 557.60 crore. Its revenue from operations rose 10.93 per cent to Rs 3,892.02. Similarly, Dabur reported volume growth of 11 per cent during the March quarter and 14 per cent for FY23. Its quarterly net profit was Rs 292.76 crore and revenue from operations stood at Rs 2,677.8 crore. "Despite near-term concerns around inflationary pressures, we plan to accelerate the growth momentum by continuing to invest in brand building, innovation, and capabilities that will drive growth," said Dabur India CEO Mohit Malhotra. Other companies also recorded growth. ITC's revenue from the FMCG segment rose 19.34 per cent to Rs 4,951.17 crore from Rs 4,148.62 crore while EBITDA jumped 76 per cent. Nestle, the maker of Maggi, Kitkat and Nescafe, reported an increase of 24.69 per cent in its net profit to Rs 736.64 crore in the March quarter. Sales rose 20.43 per cent to Rs 4,808.40 crore. Tata Consumer reported a 21.12 per cent rise in its consolidated net profit to Rs 289.56 crore. Its revenue from operations was up 13.96 per cent at Rs 3,618.73 crore. Tata Consumer said it recorded growth in the India beverages business and food. It had a "strong margin growth and strong topline growth driven both by volume and price," the company said in its earnings call. "We have started seeing volume growth coming back. The impact of inflation and monetary tightening on economic growth and demand seems to be slowing down, but I would keep my fingers crossed and monitor it closely," said Tata Consumer MD and CEO Sunil D'Souza. "In the near term, we are seeing stability." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/zomato-net-loss-narrows-to-188-crore-in-q4-revenue-rises-70-yoy/articleshow/100358894.cms">Zomato net loss narrows to ₹188 crore in Q4, revenue rises 70% YoY</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mankind-pharma-pnb-among-stocks-to-become-largecap-from-midcap-mutibagger-rail-vikas-nigam-to-turn-midcap-from-smallcap/articleshow/100356527.cms">Mankind Pharma, PNB among stocks to become largecap from midcap; mutibagger Rail Vikas Nigam to turn midcap from smallcap</a>

FMCG makers expect sustained recovery in volume and margins with price reduction in FY24

<ul><li>In Q4FY21, Marico’s Revenue from Operations grew by 34% YoY to Rs 2,012 crore.</li><li>The company witnessed strong momentum in each of the core portfolios of the India business while steadily strengthening its play in Foods through innovation.</li></ul>FMCG Giant Marico has released its financial statement for Q4FY21. Its advertising and sales promotion grew by 35% YoY as the company invested aggressively mainly on core franchises and the Foods innovations, while continuing to drive spend rationalization and channelize investment towards growing franchises. Saugata Gupta, MD and CEO commented, “With the pandemic in India taking a severe turn, the year has ended on a rather sombre note. Marico stands united and committed to making a difference in the lives of all our stakeholders and the entire community at large, hoping that we overcome these extremely difficult times at the earliest and emerge stronger from it. It is the tremendous grit and fighting spirit of our people that has allowed both the domestic and international businesses to rebound impactfully on a year-on year basis. We expect the India business to remain resilient amidst uncertainty in the near term and see through the transient spike in input costs, while the stability in the International business is also reassuring. Over the medium term, the Company will continue to prioritise maintaining volume-driven growth momentum and franchise expansion even in times of temporary cost pressures by focusing on growing the core, aggressive foods diversification, executional excellence and investment behind capability and brand building.” In FY21, Marico’s Revenue from Operations grew by 10% YoY to INR 8,048 cr. (USD 1.1 billion) backed by volume growth of 7% in the domestic business and constant currency growth of 7% in the international business. EBITDA was at INR 1,591 cr., up 8% YoY and PAT excluding one-offs, was at INR 1,162 cr., up 11% YoY. In Q4FY21, Revenue from Operations grew by 34% YoY to INR 2,012 crores (USD 276 million) backed by robust volume growth of 25% in the domestic business and constant currency growth of 23% in the international business. The company witnessed strong momentum in each of the core portfolios of the India business while steadily strengthening its play in Foods through innovation. Rural continued to lead the way in traditional trade, growing at 1.8x of urban. Ec0m (now 8% of domestic business) and CSD also fared well, while Modern Trade dipped due to pantry loading in the base quarter. Gross margin was down 517 bps owing to the severe input cost pressure, as pricing interventions in the core portfolios were not commensurate to the inflation. Advertising &amp; Sales Promotion grew by 35% YoY as the Company invested aggressively mainly on core franchises and the Foods innovations. EBITDA was up 13% YoY, as tight cost controls and operating leverage kicked in to reduce the impact on EBITDA margins to 300 bps. PAT excluding one-offs was up 17% YoY. Reported PAT was up 13%. As per the company's statement, Saffola Honey has been scaling up faster than their launch expectations. The brand exited FY21 just short of a double-digit market share in key Modern Trade chains and has garnered 25%+ market share in E-Commerce. The brand is on course to touch revenues of INR 100 cr. in the coming year. Expanding its presence in Foods, the Company launched Saffola Oodles, 5-minute ring-shaped noodles, containing no refined flour and with the goodness of whole grain oats, real vegetables and semolina. The company holds its medium term aspiration of delivering 8-10% domestic volume growth and 13-15% revenue growth. The Company would be comfortable maintaining its threshold operating margin of 19% plus over the medium term.

Marico's profit up by 14.1% to Rs 227 crore in Q4FY21; advertising and sales promotion sees a growth of 35% YoY

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> rose in morning trade on Monday amid positive cues in global markets. </li><li>Amongst the top gainers were stocks from the banking, auto and realty sectors. </li><li>Both the benchmark indices were up by 1% in morning trade, with Sensex hovering at 61,670 points and Nifty50 at 18,245 points. </li><li><keyword id="6367820" type="General" weightage="20" keywordseo="adani-group" source="Orion">Adani group</keyword>, <keyword id="6357120" type="General" weightage="100" keywordseo="paytm" source="Orion">Paytm</keyword>, <keyword id="6359432" type="General" weightage="20" keywordseo="britannia" source="Orion">Britannia</keyword> and <keyword id="6361485" type="General" weightage="20" keywordseo="marico" source="Orion">Marico</keyword> are amongst stocks in focus today. </li></ul>India’s benchmark indices Sensex and Nifty50 rose in morning trade on Monday amid positive cues in global markets. Amongst the top gainers were stocks from the banking, auto and realty sectors. Both the benchmark indices were up by 1% in morning trade, with Sensex hovering at 61,670 points and Nifty50 at 18,245 points. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.91% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.61% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.66% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.67% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.30% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr. Reddy's Laboratories </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.62% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.25% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sun Pharma </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.37% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.01% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.36% </td></tr></tbody></table> Source: NSE, as on May 3, 2023 Earlier last week, the markets wrapped up a week of volatility in the green despite selling pressure on Friday. While Sensex gained 0.73%, NIfty50 closed 0.96% higher in the last week. Positive news from the US in terms of jobs data eased recession fears and this reflected in the softening prices of gold and silver. Gold prices fell to ₹60,600 per 10 grams while silver was down to ₹77,000 per kilogram. Crude oil prices, on the other hand, edged up, with Brent crude prices crossing the $75 per barrel mark. <cmsannotation type="cmsannotation" annotationid="US markets cheer jobs data" comment="subhead" text="US markets cheer jobs data">US markets cheer jobs data</cmsannotation> Markets in the US cheered jobs data which beat expectations – new non-form jobs stood at 2.53 lakh in April, as against expectations of 1.79 lakh. This led to the Dow Jones rising 1.65%, while S&amp;P 500 rose 1.85%. The tech-heavy Nasdaq rose 2.25%. Asian markets were largely positive, led by Shanghai Composite which was up 1.69%, while KOSPI gained 0.9% and Hang Seng rose 0.83%. Taiwan Weighted gained 0.61%, but Nikkei 225 was down 0.65%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> Adani group: Adani Transmission and Adani Total Gas’ free-float will be lowered to 10% and 14%, respectively from 25% in the MSCI May index review. One97 Communications (Paytm): The payments company reported a 52% YoY rise in revenue to ₹2,335 crore in the March quarter, while its net loss narrowed to ₹168 crore from ₹761 crore a year ago. <keyword id="146218" type="General" weightage="80" keywordseo="britannia-industries" source="Orion">Britannia Industries</keyword>: The FMCG player has reported a 47% jump in March quarter net profit to ₹557 crore while revenue from operations grew 13% to ₹4,023 crore. Marico: Parachute and Saffola oil marker has reported 20% on year net profit growth at ₹302 crore for March quarter while revenue rose 4% to ₹2,240 crore. The FMCG player reported 5% volume growth in its India business for the quarter. Union Bank of India: The lender has reported 93% jump in net profit at ₹2,782 crore while net interest income was up 21% at Earnings today: UPL, Canara Bank, VIP Industries, Birlasoft, Balkrishna Industries, Exide Industries, Pidilite, Aarti Industries, APollo Pipes among companies to report their quarterly earnings on Monday. 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<ul><li><keyword id="6359432" type="General" weightage="20" keywordseo="britannia" source="Orion">Britannia</keyword>’s net profit plummeted nearly 23% on both quarterly and annual basis in July to September 2021</li><li>The company has been witnessing unprecedented inflation in market prices of palm oil, industrial fuel and packaging material.</li><li>Sunil D’Souza of Tata Consumer Products expects that the food inflation will worsen in the October-December quarter.</li></ul>The higher input costs has been a major pain point for all fast moving consumer goods (FMCG) players — including <keyword id="6361485" type="General" weightage="20" keywordseo="marico" source="Orion">Marico</keyword>, <keyword id="75190" type="General" weightage="20" keywordseo="nestle" source="Orion">Nestle</keyword>, Hindustan Unilever, Britannia and <keyword id="29464" type="General" weightage="20" keywordseo="parle" source="Orion">Parle</keyword> to name a few. The subsequent, rather constant, price increase across product lines has been the only saving grace for this segment to sustain their profits. However, this too may not be working as effectively as the segment may have imagined. The simple reason behind it is the rising inflation. The king of cookies, Britannia, has been increasing the prices of its products for several quarters, yet its profit has been declining. In the July to September 2021 quarter (Q2 of FY2022), the company’s net profit plummeted nearly 23% on both quarterly and yearly basis, despite increase in revenue and sales. <div type="image" title="Cookie king Britannia is unable to grow its profit despite a price increase" msid="87601047" hostid="261"></div> A similar trend was witnessed in April to June quarter of 2021 as well. Britannia, in its quarterly financial statement release on November 8, highlighted that it has been witnessing “unprecedented” inflation in market prices of palm oil at 54%, industrial fuel at 35% and packaging material at 30%. This is leading to an overall inflation in the July to September quarter to 14%. The company — which makes brands like Good Day, Tiger, NutriChoice, Milk Bikis and Marie Gold — initiated “necessary price increases” across its portfolio in order to mitigate the impact of the rising input cost, Britannia’s managing director Varun Berry said. Berry, on a call with analysts on August 2, said, “It’s a very high inflation number that we are currently sitting on. A situation like this, just necessitates [price increase]. Cost efficiency can never take care of this kind of inflation. Two-three percent we can usually take care of, but this necessitates price increase and that’s why we move forward with that.” Neha Khanna, director at investment banking and financial advisory firm Valpro, told Business Insider that apart from the rising input cost there are several other factors that could be leading to Britannia’s reducing profit. This includes stretched out working capital, marketing costs and more. Britannia’s shares fell 3% as of 12:25 p.m on November 9. This was majorly triggered by its financial performance in the last quarter. From Nestle to Parle — FMCG under stress of increased input costs Britannia is not the only company that has witnessed such a trend. Another FMCG brand Marico — which makes popular products Parachute oils, Set Wet, Livon and Saffola — noticed such a dip in its profit despite the overall increase in sales. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net Profit (April-June 2021) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net Profit (July- September 2021) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Marico </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹365 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹316 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consumer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹268.04 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹185 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹617 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹538 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Unilever </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,100 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,185 crore </td></tr></tbody><tbody></tbody></table> The increasing input costs is an issue for all the players in the segment. Companies like Nestle India, Colgate Palmolive, Emami, Tata Consumer Products, Wipro Consumer Care have taken up such pricing practices over the last one year to overcome the inflation troubles. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key products </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price rise in 2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Marico </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Saffola, Parachute, Set Wet, Livon </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Saffola price increased by 50% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Unilever </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dove, Lux, Pears, Hamam, Lyril, Surf Excel, Wheel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.5% hike in price of Surf Excel, Rin, Lux, Wheel Detergent </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle, KitKat, Munch, BarOne, Nescafe, Maggie </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1-3% hike in price categories </td></tr></tbody><tbody></tbody></table> Sunil D’Souza, chief executive officer (CEO) and managing director of Tata Consumer Products <a href="https://www.businessinsider.in/retail/news/a-third-of-indias-festive-seasons-is-over-whats-selling-and-whats-not/slidelist/87468577.cms#slideid=87468856">expects that the food inflation </a>will worsen in the October-December quarter. The CEO of Nestle India, Suresh Narayanan, in an interview with CNBC pointed out that nine out of the 13 key ingredients that it buys from the market have not been this expensive in nearly a decade. <div type="image" title="Britannia is unable to improve its profit despite a price increase — what’s next" msid="87601084" hostid="261"></div> “... There has been an increase in input prices. That is leading to several price increases and what we really ensure is that their price increase does not go beyond 15% in a financial year,” Parle’s senior category head of marketing B Krishna Rao said, adding that 15% price rise is the point when customer’s demand for a specific product starts dipping. Valpro’s Khanna also noted that the companies could look at changing the pack sizes by selling less for the same price, however that always has the risk of hitting consumer sentiments in some ways. “That’s a classic FMCG tactic to ensure costs are saved,” she said. The other way to increase profit is by cutting employee costs, administrative costs or maintenance costs, she added. SEE ALSO <a href="https://www.businessinsider.in/investment/news/choosing-the-best-cryptocurrency-exchange-your-options-and-how-to-pick-between-them/articleshow/87539690.cms" style="">Choosing the best cryptocurrency exchange — your options and how to pick between them</a> <a href="https://www.businessinsider.in/investment/news/illegal-mining-for-cryptocurrencies-remains-rampant-as-miners-look-to-maximise-profits-with-cheap-electricity/articleshow/87505141.cms" style="">Illegal mining for cryptocurrencies remains rampant as miners look to maximise profits with cheap electricity</a> <a href="https://www.businessinsider.in/investment/news/cryptopunks-sees-another-bizarre-sale-in-seven-days-this-time-for-an-unreasonably-cheap-price/articleshow/87490463.cms" style="">Another bizarre CryptoPunks' sale in the last seven days — this time for an unreasonably cheap price</a>

Britannia is unable to improve its profit despite a price increase — what’s next

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>Despite consistent sales, <keyword id="6359432" type="UNKNOWN" weightage="20" keywordseo="britannia">Britannia</keyword>’s profit margin shrank significantly compared to the Q1 of last year.</li><li>The century-old company has blamed <keyword id="22195" type="COMPANY" weightage="20" keywordseo="Inflation">inflation</keyword> and crude oil prices for its receding profit margins in Q1 of FY2022.</li><li>Just like its competitors, Britannia too is looking to increase its price over the next quarter.</li></ul>Inflation is biting even for some of the country’s largest companies. For instance, even though the $11.3 billion king of the cookies business, Britannia, was able to show some decent sales between April and June this year, its profit margin shrank significantly compared to the same quarter of last year. <div type="image" title="From cookies king Britannia to soaps titan HUL, inflation is eating profits away ⁠— so, you may have to pay even more for daily essentials" msid="84977168" hostid="261"></div> The same has been true for other giants like <keyword id="6361485" type="ORGANIZATION" weightage="20" keywordseo="marico">Marico</keyword>, which makes the edible oil brand Saffola, as well. Varun Berry, the chief executive (CEO) of Britannia, wants to increase prices of Britannia products. The inflation rate has increased to around 6-7% compared to April-June 2021. Meanwhile, fuel prices have increased another 1-2%, which has hit the company’s supply chain. “It’s a very high inflation number that we are currently sitting on. A situation like this, just necessitates [price increase]. Cost efficiency can never take care of this kind of inflation. Two-three percent we can usually take care of, but this necessitates price increase and that’s why we move forward with that,” Britannia’s chief executive officer Varun Berry, said in a call with analysts on August 2. Basically, Britannia managed to offset about half the rise in input prices by cutting costs. <div type="image" title="From cookies king Britannia to soaps titan HUL, inflation is eating profits away ⁠— so, you may have to pay even more for daily essentials" msid="84977142" hostid="261"></div> "While Britannia continues to gain market share, relative market share (versus Parle) has fallen in recent quarters. We believe Britannia needs to step up the pace of new launches and category forays to drive sustained acceleration in revenue momentum," said Kotak Institutional Equities in its report dated August 2. There were two reasons why the Britannia shares rallied on Monday. The 1% drop in revenue from sales was better than the estimated<a href="https://markets.businessinsider.com/news/stocks/britannia_industries_2-quarter-earnings-preview-q1-1030656615"> contraction </a>and that the company wants to improve margin with price revision. And, it has the might to do so. <div type="image" title="From cookies king Britannia to soaps titan HUL, inflation is eating profits away ⁠— so, you may have to pay even more for daily essentials" msid="84977184" hostid="261"></div> In fact, Britannia is not the only company that has witnessed such a trend. Another <keyword id="34523" type="CITY" weightage="20" keywordseo="fmcg">FMCG</keyword> brand Marico — which makes popular products Parachute oils, Set Wet, Livon and Saffola — noticed such a dip in their profit margins despite the overall increase in sales. While India’s biggest FMCG brand <keyword id="6365619" type="COMPANY" weightage="20" keywordseo="hindustan-unilever">Hindustan Unilever</keyword> has managed to pave its way out of this circle with little to no impact, all thanks to its strategic pricing practices taken up last year. The company too has admitted that the inflation and rising input cost has been putting its business under pressure as well. <div type="image" title="From cookies king Britannia to soaps titan HUL, inflation is eating profits away ⁠— so, you may have to pay even more for daily essentials" msid="84977203" hostid="261"></div> From Britannia to Hindustan Unilever, consumer product set to be more costly Hindustan Unilever has already increased the price of some of its flagship products like Lux soap and Lifebuoy by 9% over the last one year. Lux, which used to cost ₹22 in April 2020, was priced at ₹28 in May 2021. The company had also indicated this price rise in its earning call for April-June quarter of FY2021. “We are taking some judicious price increases in parts of our portfolio. Some of it has already landed and some of it will land in due course because the quantum of inflation is a lot. And also, we'll do it in parts of the portfolio where it makes sense,” Srinivas Phatak, former chief financial officer (CFO) of Hindustan Unilever <a href="https://www.hul.co.in/Images/jq-2020-transcript---final_tcm1255-553839_1_en.pdf">said</a>. He has currently taken up a global finance role at Unilever’s London head office. Even companies like <keyword id="6356830" type="ORGANIZATION" weightage="20" keywordseo="nestle-india">Nestle India</keyword>, Colgate Palmolive, Emami, Tata Consumer Products, Wipro Consumer Care have taken up such pricing practices over the last one year to overcome the inflation troubles. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April-June margin squeeze </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Unilever </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">950 up </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Colgate Palmolive </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1770 up </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Emami </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9640 up </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1100 up </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Marico </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">592 down </td></tr></tbody><tbody></tbody><tbody></tbody></table>*bps stands for basis points. 100 basis points make one percent. “As the market leaders, we are always the first to take price increases. The market leaders always have to initiate that. We are not ones who believe in price wars or taking advantage of situations like this. We believe in taking the price at the right time and that’s what’s got the entire industry to the situation, where the industry is making a lot more margin than what we have ever made in the past,” said Britannia’s CEO Berry said. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/check-out-policybazaar-ceo-yashish-dahiya-salary-and-remuneration-for-other-key-execs-in-paisabazaar-and-pb-fintech/articleshow/84971063.cms" data-type="tilCustomLink">PolicyBazaar’s CEO Yashish Dahiya took home about ₹3 crore ⁠— here’s a look at other top paid execs at the fintech startup headed for IPO</a> <a href="https://www.businessinsider.in/business/news/exclusive-indias-largest-zinc-miner-is-eyeing-a-share-of-the-bangladesh-economic-boom/articleshow/84963388.cms">EXCLUSIVE: India's largest zinc miner is eyeing a share of the Bangladesh economic boom</a> <a href="https://www.businessinsider.in/tech/news/jack-dorseys-square-agreed-to-buy-afterpay-which-has-a-buy-now-pay-later-service-for-29-billion-in-stock/articleshow/84962218.cms">Jack Dorsey's Square agreed to buy Afterpay, which has a 'buy now, pay later' service, for $29 billion in stock</a>

From cookie king Britannia to soap titan HUL, inflation is eating profits away ⁠— so, you may have to pay even more for daily essentials

<ul><li>If the pandemic has brought one certain change in the consumer mindsets, it is the move towards personal hygiene and wellness.</li><li>On the back of e-commerce and growing awareness about wellness, the men’s grooming category has seen unprecedented growth in the last few years.</li><li>To further build this category, <keyword id="3508584" type="General" weightage="20" keywordseo="the-man-company" source="Orion">The Man Company</keyword> has launched <keyword id="13237965" type="General" weightage="20" keywordseo="MinStrips" source="Orion">MinStrips</keyword>, rapid dissolving tongue vitamin strips.</li><li><keyword id="674163" type="General" weightage="20" keywordseo="Hitesh-Dhingra" source="Orion">Hitesh Dhingra</keyword>, Founder, The Man Company talks to us about the brand’s forays into the well-being category, brand strategy and growth vision for MinStrips, consumer insights and preferences that led to the innovation and larger vision.</li></ul>Around a decade ago, the male grooming industry was almost non-existent in our country. India only had razors, shaving cream and after-shave lotions for men and those who did care about their skin underneath their beards or mustaches, would quietly use the products available for women. India’s men’s grooming market, thankfully, has come a long way in the last few years, moving beyond shaving and deodorant products. This space has also attracted large FMCG brands such as Reckitt, which invested about Rs 45 crore in the Bombay Shaving Company. Meanwhile, Marico acquired Beardo and Emami increased its stake in The Man Company last year. These marketers have been redefining masculinity, self-expression and grooming through their campaigns. Hitesh Dhingra, Founder, The Man Company says that the segment has evolved and it is no more just beard or face that men care about, they are today giving equal importance to holistic grooming and wellness. With a push from e-commerce, the grooming industry has already expanded its reach beyond urban markets, witnessing an uptick from Tier II and III cities. According to Research and Markets, India's male grooming industry is poised to reach $1.2 billion by 2024 at a CAGR of about 11% and globally, as per a Statista report, the grooming market is projected to reach around USD 81.2 billion by 2024. Now, to further build this category, The Man Company is entering a new segment: nutraceuticals. It has forayed into the well-being category with the launch of MinStrips, rapid dissolving tongue vitamin strips. Dhingra speaks to Advertising and Media Insider about the company’s foray into well-being, category trends we can expect this year, key focus areas and revenue goals for the coming fiscal. Q. What was the thought and idea behind foraying into the well-being category? We started our journey as an essentially grooming brand to help men on their continuous evolution. We have strived to build trust among our customers all these years by formulating purest and finest quality products for their overall grooming under skin, hair, and body care. Considering the need of the hour and being one of the leading brands for men’s grooming products, we wanted to move the needle following a 360-degree approach to enable a better lifestyle for men. The idea is to take a holistic approach from external to internal grooming. Therefore, we forayed into the wellness category and launched our sub-brand ‘MINS’. As a brand, we have been synonymous with innovations. It is in our DNA. So, this time, we wanted to launch products that are on the go, effective, easy yet safe, something with which Gen Z could quickly resonate. After 2.5 years of thorough R&amp;D, we added MINS to our product portfolio. MinStrips are orally dissolving strips that help people tackle all the lifestyle hurdles. Needless to say, most millennials and Gen Z have a fast-paced and hectic lifecycle. This automatically raises concerns about sleep, stress and anxiety due to work pressure, better hair and skin (which is already our forte), performance and sexual wellness. We are addressing all these issues with our latest innovation, MINS. Q. MinStrips is quite an interesting product. What inspired you to launch it? The nutraceutical industry in India is witnessing a CAGR of 21% this year. There are substantial untapped market opportunities out there. We can also see an aversion amongst millennials and Gen Z from consuming capsules, powders, gummies and tablets. The reason is that there is still a taboo attached to nutraceuticals being challenging to consume or travel with as they are somewhat dependent on factors like water intake. In contrast, MinStrips are self-dissolvable oral strips. Users simply need to keep it on their tongue, and the process is done, they can have their daily dose of Vitamin with utmost convenience. Additionally, MinStrips come with sleek packaging in a travel-friendly format. The entire concept of effective and easy-to-use makes it an exciting product, especially for our young consumer base. Furthermore, as per our research, strips have 80% active ingredients compared to gummies (30%), capsules (20%) and tablets (10%). This also makes MinStrips a highly accurate, elevated absorption and quick action product compared to other formats. Q. Also, these are rapid dissolving tongue vitamin strips, what was the product insight there? You chose not to go with regular vitamin supplements, so what led to this innovation? We didn't start making MinStrips just now. We have been doing our research since the pandemic was in its initial stage. During our research, we identified some key problems like modern consumers didn't want to take daily capsules, tablets, or powder content. They also want more affordable, hassle-free and convenient Vitamin supplements. So, we decided to launch MINS, a unique Vitamin supplement format accompanied by added benefits. MinStrips are made with 100% natural ingredients. They are vegan and free from any chemicals, sugar and side effects. One of the USPs of the product is that these are non-habit forming which makes them safe and easy to consume. We have also gained lab certificates from leading laboratories like GMP Laboratories, HACCP, ISO Certification, and FDA to attest to our claim. Q. How would you spread the word? What is your marketing and distribution strategy? We have garnered a huge and loyal community in the last six years of The Man Company's journey. Today, we have 0.8M followers across Social Media and a consumer base of 2M. This community comprises progressive and like-minded gentlemen. As our initial marketing and distribution strategy, we will leverage our existing consumers to spread the word through various media and also by sampling. We will also collaborate with influencers and content creators to spread word of mouth through their individual experiences. Furthermore, in terms of distribution, apart from our robust e-commerce platform and marketplaces, we also have around 2000 offline touchpoints through Modern Trade and Exclusive Brand Outlets. MINS will be ready to avail on all of these platforms. Q. What is your marketing budget earmarked for this year? 35% of our revenue is to be invested in marketing. Q. How has the company and brands’ communication evolved over the duration of the pandemic? During the pandemic, ‘immunity’ became the buzzword and the need of the hour, which made the wellness industry boom. Therefore, we feel this is the right time to enter the market and create a dent. For The Man Company, these last years have turned out to be propitious. We engaged with our customers to practise self-love, which made ‘The Man Company’ a household name among men embarking on their grooming journey. Since salons and parlours were shut down, we introduced DIY products for face, hair, beard and foot care that were easy to follow while working from home. Q. What does your media strategy look like? Which medium gets your lion's share? By DNA, we are a digital-first company. We function in full swing on the back of Social Media marketing and content creators. Content creators lead social media, and we believe influencers can be our ambassadors. Moreover, since we are a lifestyle brand, we are very focused on UGCs. We are currently on the lookout for going regional and trying to speak in the way and language that our consumers speak across the country. We believe that we should not merely translate the communication but trans-create it. Simultaneously, we are also gearing up to foray to other novel platforms and formats shortly. Q. As you build the men's wellness industry in India, what are some of the trends that you are expecting to see? How has consumer behaviour changed after the pandemic in this category? The pandemic inadvertently forced people to become more aware of their immunity strength and hygiene factors. Given that, consumers, in our case men, started to talk about personal care, hygiene and grooming became an escalating point for the tremendous growth of the wellness industry. During the pandemic hours, since everyone was working from home and salons were closed indefinitely, home-care and DIYs became the need of the hour. To assist our customers, we also came up with easy-to-use products that do not need experts, but consumers can use them in the comfort and safety of their homes. In the post-pandemic era, we believe consumers will continue to pay special attention to their personal care and grooming regime. The trend to use chemical and cruelty-free products will continue to gain strength, and consumers will incline towards affordable and effective product lines. Q. What are some of the challenges in this category? The biggest challenge is that consuming nutraceuticals is still considered taboo. More acceptance through education and workshops is required. Most importantly, wellness products should be safe to consume, which is why we have gotten MinStrips certified by several leading laboratories. Considering consumers today are busy with their fast-moving routines, we wanted to make MinStrips-brought wellness a part of the daily schedule. It wasn't easy to come up with an unprecedented idea. Still, we wanted to bring a hassle-free and affordable Vitamin and wellness booster with an 'On the Go' convenience for our customers. And, we are glad to say that we succeeded in our endeavour. Q. The notion of toxic masculinity has forced men to ignore themselves. It judges men who take care of their health and skin. Do you think that notion is changing in India? Are men more open to this change? Be it through our products or campaigns, The Man Company believes in bringing out the 'Gentleman In You'. Since inception, we have witnessed a gradual change in the way men perceive themselves. Social media, movies, web series have spoken about this change for quite some time now. We also feel that India has been exponentially evolving in terms of mindset. Grooming has become an aspiration. It's no more just beard or face that men care about, but modern gentlemen are focusing on holistic grooming and wellness. We have garnered considerable traction from tier-II and tier-III cities, proving that men's grooming is witnessing a notable uptick. The Man Company has worked as a catalyst to bring in this change through various campaigns like #GentlemanTumhiTohho, #ScentOfAGentleman and Gentleman Kise Kehte hai. We'll continue to assist the journey of 21st-century gentlemen. Q. Which are your strongest markets? Are you looking at expanding your business further this year? We cater to all gentlemen irrespective of education, sexuality, religion, job profile, or age, but prominently, we struck chords with millennials and Gen Z clientele. Our target group is every gentleman who is real, modern, authentic, progressive and self-aware. During our growth journey, we realised that tier-II and tier-III cities have issues related to affordability and awareness related to men's grooming and personal care. So, we decided to start our e-business operations in these cities. Considering that we are launching a sub-brand (MINS) and a new product (MinStrips) in the new year, we are sure this year will end on a high note. Q. What are some of your focus areas for this year? From a brand perspective, we are focusing on thought-provoking leadership. We want to create a strong brand presence across the country and make The Man Company a household name even in the most remote locations. For the coming months, we are gearing up to collaborate with platforms like Cred, Trell, etc. to fortify our sales. We are also working on IPs, such as the Hall of Gentlemen, to celebrate gentlemen bringing selfless change to society. Apart from this, several other exciting IPs are in the pipeline that resonate with our core communication to bring out the #GentlemanInYou. We don't want to be a brand that does tokenism. Our goal is to become a catalyst in changing the mindset of men everywhere. Q. You are all set to double your sales to Rs 100 crores by the end of this fiscal. How are you planning on sustaining this growth this year? What are your revenue goals for FY23? We will be pushing content like never before and expanding our offline presence aggressively. In terms of MT and EBO presence, we'll ensure maximum outreach. We are also launching various interesting categories, starting with MINS and expanding existing categories with exciting and innovative products. In addition, recently, we have also launched our loyalty program called The Man Club for our community. The Man Company is expecting to touch Rs 225 crore revenue in the coming fiscal.

The Man Company aims to touch Rs 225 crore revenue in the coming fiscal; earmarks 35% of its revenue for marketing and advertising

<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>

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