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<ul><li>Indian benchmark indices ended lower on Thursday weighed down by a selloff in Bajaj Finance, Bajaj Finserv and other heavyweights like ICICI Bank and Infosys despite positive cues from global markets.</li><li>Bajaj Finance was the top loser on the benchmark indices as it plunged over 7% after the announcement of its December quarter business update.</li><li>Markets around the world gained after the release of US Fed minutes.</li></ul>Indian benchmark indices ended lower on Thursday weighed down by a selloff in Bajaj Finance, Bajaj Finserv and other heavyweights like ICICI Bank and Infosys despite positive cues from global markets. The 30-stock index <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> closed 0.50% or 304 points lower at 60,353 while the 50-stock index <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> ended down 0.28% or 50 points lower at 17,992. “<keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword> fell for the second consecutive session on January 5, though it recovered smartly from intra day lows post 1:30 p.m. At close Nifty was down 0.28% or 50.8 points at 17992.2. Volumes on the NSE are rising gradually as people return to work after holidays,” said Deepak Jasani, head of retail research at HDFC Securities. Here are the top gainers and losers on Nifty50 on Thursday <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;">Top gainers </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;">% change </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;">Top losers </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;">% change </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;">Cipla </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;">2.17% </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;">Bajaj Finance </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;">-7.23% </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;">Bajaj Auto </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;">2.12% </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;">Bajaj Finserv </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;">-5.24% </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;">ITC </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;">2.02% </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;">ICICI Bank </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;">-2.27% </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;">HUL </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;">1.96% </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;">Infosys </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;">-1.28% </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;">JSW Steel </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;">1.86% </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;">Titan </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;">-1.25% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Among sectoral indices, except bank, IT and financial service all other sectors were trading in green. <div type="image" title="sectoral-indices-23" msid="96767782" hostid="261"></div> On the other hand, rupee appreciated against the US dollar on Wednesday with a gain of 32 paise to close at 82.5. Bajaj twins weighed down on indices Shares of Bajaj Finance was the top loser on the benchmark indices as it plunged over 7% after the announcement of its December quarter business updates that disappointed analysts on lower than expected growth in assets under management (AUM). The financial services company reported an AUM growth of 27% on year and 6% on a sequential basis at ₹2.31 lakh crore. “Q3 AUM growth was nearly 200 basis points lower than our estimate of 7.5% QoQ. Q3 is usually a strong quarter due to festivals, so either there was some impact at the end of Q2 or the company lost some market share,” said a report by global brokerage CLSA. CLSA recommended a ‘Sell’ rating on the company saying loan growth slowed despite a festive season, which is otherwise a strong period owing to festivities. Following this, shares of Bajaj Finserv, a parent company of Bajaj Finance, also dropped sharply by over 5%. Besides, the fall in crude oil prices on concerns of a recession in the global economy and the spread of Covid in China pared some losses. Brent crude oil prices fell below the $80 mark and were hovering around $79.81 per barrel on Thursday. Meanwhile, markets around the world were in the green after the US Fed’s minutes were released on Wednesday, wherein officials stressed on the need to maintain flexibility while still focusing on inflation. <div type="image" title="daily-profit-loss-23" msid="96767788" hostid="261"></div> US Fed emphasizes on the need to retain ‘flexibility’ Investors across the globe took some support from the US Fed minutes released on Wednesday, where the officials agreed that the central bank should slow the pace of its aggressive interest rates increase while controlling inflation. While the commentary seemed positive, the Fed still has its focus on controlling inflation. “Most participants emphasised the need to retain flexibility and optionality when moving the policy to a more restrictive stance,” the Fed minutes said. Both foreign institutional investors (FII) and domestic institutional investors (DII) were net sellers on Thursday pulling out ₹1,449 crore and ₹194 crore respectively. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-other-it-companies-earnings-preview-for-q3-fy23/articleshow/96731891.cms">December quarter likely to be a weak one for the IT sector – Infosys amongst top analyst picks</a> <a href="https://www.businessinsider.in/stock-market/news/the-ipo-momentum-will-continue-in-2023-at-least-for-sme-ipos-prime-database/articleshow/96728596.cms">The IPO momentum will continue in 2023 at least for SME IPOs: Prime Database</a> <a href="https://www.businessinsider.in/business/auto/news/pv-and-2w-sales-disappoint-in-december-but-stronger-growth-ahead-say-analysts/articleshow/96732246.cms">PV and 2W sales disappoint in December, but stronger growth ahead, say analysts</a>

Sensex, Nifty50 end lower weighed down by a selloff in Bajaj twins, heavyweight ICICI Bank, Infosys

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>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

Marico, HDFC, Dilip Buildcon and other hot stocks to watch out for on January 4

<ul><li>As a D2C house of brands that’s going public, Honasa is a new IPO theme for investors.</li><li>HUL, Marico etc. are listed peers but it also has a lot in common with new-age companies like high advertisement expenses.</li><li>Honasa’s capex plans to go offline and customer acquisition cost can dent the profitability of the company, which has posted losses in FY23.</li><li>The company is catering to the premium BPC sector which in turn caters to the changing needs of the urban millennials and GenZs. </li></ul>If you are an investor who is tired of the same old consumer companies, there is a new theme in town. A direct-to-consumer or D2C company that houses several brands, Honasa Consumer, has taken the off-beat path of going public. “It can be a new IPO theme. There have been many D2C brands that were acquired by companies like Marico acquiring Plix, Beardo and Emani with The Man Company. This is the only one to go public,” says Preeyam Tolia, senior research analyst of FMCG &amp; Retail at Axis Securities. This ₹1,701 crore IPO, however, is also an acid test for direct to consumer (D2C) companies dreaming to go public. After the mixed reaction that many new-age digital companies like PayTM, Zomato and Nykaa received from the markets, most digital businesses are met with askance. Who are the peers? As a product creator, the company quotes HUL, Marico, Marico etc. as its peers. However, the company which produces its products via contract manufacturing, shares many traits with new-age companies. Honasa is one of the first-movers in the sector, and grew at a breakneck speed of 80% compounded annual growth rate (CAGR) for the last two years. In the crowded online BPC market, it managed to gain a market share of 5.4%, as per Redseer. It’s also in the most alluring businesses of the times. The BPC sector itself is expected to grow at a CAGR of 10% between 2022-27, the consulting firm says. It’s also establishing exclusive brand outlets (EBOs). But, it’s primarily a digital company that’s true to its nature. “We follow and listen to consumers and use the data to create new products. For example, our onion-based hair care products are based on the advice that most people receive as an antidote for hair fall. But people also pointed out that it’s tough to extract and use. That’s how we created it,” explained Varun Alagh, founder and CEO of Honasa Consumer at the company’s IPO press conference. In addition to its flagship, it has expanded its portfolio by incubating three brands and acquiring two more. It now has The Derma Co, Aqualogica, Ayuga, Dr Sheth’s and BBlunt (salons and products) – all catering to the new-age Indians who love tailor-made products. The ad-burn conundrum Honasa had to spend a lot of money to market the uniqueness of its varied products to the right consumers via online and offline channels. Its ad expenses stood at 34.99% of its revenue from operations as of June end. Experts say that it’s normal for a D2C company like itself. “D2C brands require a lot of advertising and promotional spends. They do need to invest in scaling up brands and they have been able to because of PE funds. But in a listed environment, it’s too early to comment on how they will fare,” comments Tolia. A large chunk of the net proceeds raised from the fresh issue will go towards ad expenses. It intends to spend more towards physical presence like more EBOs and BBlunt salons. That’s good for the brand in terms of customer acquisition cost, but in the long run. “As the brand scales, the company is looking to connect consumers offline. A large part of the revenue decline is concentrated in its D2C website and app, where CAC (customer acquisition cost) is considerably high. As consumers shift to the offline mode, CAC needs will also reduce,” said a report by Emkay. According to a Redseer report, most investors into new-age companies are confused about their business models. They’re unsure of which bucket a company falls into, especially when they go online to offline. They’re positioned online but grow offline. These are different models cost and growth-wise, it said enumerating investor concerns on startup listings. Moreso, the company had taken an impairment hit due to its subsidiary Momspresso in FY23, dragging it into losses to the tune of ₹150.9 crore. It had posted a profit of ₹14.4 crore in FY22. Its high expenses makes it tough to get back to the profit path, say analysts. “The company's focus on product development and innovation R&amp;D may impact short-term profitability due to high advertising expenses and capital expenditure,” says Prashanth Tapse, senior VP of research at Mehta Equities. What’s in it for the investors? The IPO is a combination of fresh issue and offer-for-sale (OFS). But the size of the fresh issue is much smaller than the OFS by promoters and other selling shareholders who will take a lion’s share of the intended fundraise of ₹1,701 crore. “New investors should be cautious as the IPO includes fresh share issuance of ₹365 crore and a low promoter stake of 37.41%. Conservative investors may wait and watch, while risk-takers can consider long-term investment for potential growth. However, the IPO appears to be overvalued in the current market conditions, and historical listings with high valuations have often faced post-listing challenges,” opines Tapse. Emkay too has broken its opinion on the company into three different scenarios — all based on how much of its past growth it can keep up with. If it’s able to double its turnover in three years, it’s an attractive investment. If it can keep up with its 20% revenue CAGR, it can be defined as ‘fair’, but if its revenue grows under 10%, then it’s an expensive investment. It all boils down to how far and clearly investors can gaze into the crystal ball.

Honasa Consumer’s D-Street debut an acid test for D2C companies

<ul><li><keyword id="6361485" type="General" weightage="20" keywordseo="marico" source="Orion">Marico</keyword>’s chief Saugata Gupta has confirmed that the company has engaged in three rounds of price deduction for Saffola and Parachute in the last four months.</li><li>These reductions are based on the declining copra prices.</li><li>This pricing strategy is likely to start paying off by fiscal year 2023, the company believes.</li></ul>Rising input cost was one of the major pain points for all major fast moving consumer goods (FMCG) companies like <a href="https://www.businessinsider.in/retail/news/profit-margin-of-britannia-declines-in-q2-of-fy-2022/articleshow/87600806.cms">Nestle, Hindustan Unilever, Britannia</a> and others over the last two years. These companies had to constantly increase the price of their products in order to keep their margins intact and show higher growth to their investors. Even Marico — the company behind brands like Saffola and Parachute — had taken part in this pricing strategy. However, the company has now decided to backtrack a bit and reduce the price of its products in the months to come. Marico’s managing director (MD) and chief executive officer (CEO) Saugata Gupta, in the earning call with the analysts, highlighted that the company has already engaged in three rounds of price deduction for Saffola and Parachute in the last four months. The first price deduction was in October 2021, followed by December 2021 and January 2022. Parachute and Saffola are the most popular products by Marico. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Product </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;">Market Share </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 increase since 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;">Parachute </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;">63%+ </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;">Up to 6% in coconut oil </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;">Saffola </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;">83%+ (refined oil), 43% (oats) </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;">50% in refined oil category </td></tr></tbody></table> Reduction in price come on declining copra price The company will further look to reduce prices of these products as it expects the input costs to lower due to dropping Copra (dried coconut kernel) rates. Copra prices account for nearly 50% of raw material costs overall for its coconut oil portfolio, Marico’s chief financial officer (CFO) Pawan Agrawal has previously said. “Parachute part is clearly certain, but it is difficult to take a call on the rest of the business that will all depend on rural growth and inflation [as well as crude oil prices],” CEO Gupta said. He assured, “We have put in a lot of cost management exercises, which will also accrue next year [financial year 2023]... Operating margin will definitely be higher next year than this year [FY2022].” <div type="image" title="Marico has been reducing the price of Saffola and Parachute, and it may go down further" msid="89247399" hostid="261"></div> The company has decided to focus on price cuts in order to focus on sales volume, instead of margin. It believes that this will further help the company’s long term growth vision and make the price of its product more competitive. “We are not shy in taking price drops, our endeavour is to ensure that volume growth happens and not short term price margins,” Gupta said, adding that it may be able to achieve a normal EBITDA margin of 19% in the last quarter of FY2022. EBITDA stands for earnings before interest, taxes, depreciation, and amortisation. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/ags-transact-technologies-ipo-makes-a-weak-listing-on-exchanges/articleshow/89236121.cms">AGS Transact Technologies makes a weak listing with ₹1 profit for IPO investors</a> <a href="https://www.businessinsider.in/budget/news/rupee-is-likely-to-weaken-against-the-us-dollar-in-2022-as-per-experts/articleshow/89218673.cms">Experts say the rupee is likely to weaken against the US dollar this year</a> <a href="https://www.businessinsider.in/tech/news/prime-minister-narendra-modi-mann-ki-baat-january-2022-does-not-mention-if-india-bought-pegasus-spyware/articleshow/89218666.cms">Simply put, the charge on the Modi government is that it lied to the Parliament about buying Pegasus spyware and it must respond</a>

Marico has been reducing the price of Saffola and Parachute, and it may go down further

<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>At 7:45 am, the SGX Nifty was up 0.67%, indicating a positive start 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>The Indian stock market is likely to open in green on Friday, amid positive cues from the global market. At 7:45 am, the SGX Nifty was up 0.67% pointing towards a higher start for Nifty50. In global markets, the US stocks gained on back of strong housing data and as revival of stimulus talks overshadowed the COVID-19 concerns. The Dow Jones Industrial Average ended up 0.20% higher, and the S&amp;P 500 gained nearly 10 points towards the end of trading. These are the stocks to watch out for during the trading session on September 25: Tata Consumer Products According to <a href="https://www.business-standard.com/article/companies/tata-consumer-products-plans-to-bid-for-coffee-day-s-vending-business-120092401736_1.html">media reports,</a> the consumer arm of Tata Group, Tata Consumer Products is planning to bid for the vending machine business of Coffee Day Enterprises. The reports claim that the board of Tata Consumer had approved the proposal to explore an acquisition of the operation from Coffee Day. The shares of Tata Consumer Products ended 2% lower yesterday. Shriram City Union Finance India’s central bank, RBI has levied a ₹5 lakh penalty on the Chennai-based Shriram City Union Finance for non-compliance with its directions on verification of the ownership of gold jewellery contained in NBFC. The shares of Shriram City Union Finance ended 3% lower yesterday. Mahindra and Mahindra Anand Mahindra-led automotive major, Mahindra &amp; Mahindra (M&amp;M) bought more shares in Finland-based harvester maker Sampo Rosenlew Oy. M&amp;M had picked up a 35% stake in the Finnish firm in 2016 before raising it to 49.1% over the next four years, and now it has spent ₹18 crore to increase its stake to 74.97% stake in the firm. The shares of M&amp;M ended 5% lower yesterday. GAIL and ONGC GAIL (India) has cut supplies by about 40% to customers, mainly power and fertiliser companies, after a pipeline rupture led to a fire in an ONGC’s Gujarat plant. GAIL in a statement said “about 30 mmscmd of natural gas supplies into its north-western pipeline network (HVJ system) was immediately shut-off” following the fire. The shares of GAIL and ONGC ended 4% and 3% lower, respectively, yesterday. Tata Consultancy Services (TCS) Tata Consultancy Services (TCS) said it has been hired as a digital transformation partner by women fashion retail chain Maurices. TCS will help the company build its greenfield IT ecosystem with the intent of optimising its 200 existing applications and software components within the next 17 months. The shares of TCS ended 6% lower yesterday. RITES The engineering consultancy company, RITES has bagged a ₹206 crore contract to construct four roads over bridges in Andhra Pradesh from Indian Railways. “RITES Ltd has been awarded a turnkey contract for construction of (ROBs) in replacement of existing level crossings on competition basis from Railway Board amounting to Rs 205.85 crore,” the company said in a statement. The shares of RITES ended 1.3% lower yesterday. Marico The FMCG major Marico said it has divested its entire stake in the fitness app Revolutionary Fitness (Revofit). The shares of Marico ended 1% higher yesterday. Divi's Laboratories and SBI Life Insurance Divi's Laboratories and SBI Life Insurance will replace Bharti Infratel and Zee Entertainment Enterprises on the Nifty 50 benchmark index today. The shares of Divi's Laboratories ended 4% lower yesterday, while SBI Life was down 5% on NSE. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sensex-down-7-this-week-sees-the-second-worst-fall-this-year-these-are-the-reasons-behind-the-sell-offs/articleshow/78297469.cms" data-type="tilCustomLink">Sensex down 7% this week, sees the second-worst fall this year— these are the reasons behind the sell-off</a> <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-and-sbi-customers-are-facing-upi-payment-glitches/articleshow/78293815.cms" data-type="tilCustomLink">HDFC Bank and SBI customers are facing UPI payment glitches</a>

Top stocks to watch— Tata Consumer, TCS, GAIL, Divi's Laboratories, SBI Life Insurance, ONGC, M&M, RITES and others

<ul><li>If an investor had invested ₹10,000 in this stock a year ago, the investment would have turned to over ₹1.55 lakh today.</li><li>The Tata Group telecom services company Tata Teleservices (Maharashtra) is a leading enabler of digital connectivity and cloud solutions to enterprises.</li><li>Shares of the company have multiplied over 28 times in the last five years from ₹7 per share to ₹202 today.</li></ul>Tata Group telecom services company Tata Teleservices (Maharashtra) is among those stocks that every investor dreams of investing in as it has made huge sums of money for investors over a period of time. The company got every investors’ attention because of having a strong parent -- Tata Group -- despite making losses. If an investor had invested ₹10,000 in this stock a year ago, the investment would have turned to over ₹1.55 lakh in one year. Moreover, shares of the company have multiplied over 28 times in the last five years from ₹7 per share to ₹202 today. The Tata Group telecom services company Tata Teleservices (Maharashtra) is a leading enabler of digital connectivity and cloud solutions to enterprises. The <keyword id="146310" type="General" weightage="20" keywordseo="tata-group-company" source="Orion">Tata Group company</keyword>’s surge in share price does not match the reality of its business. Simply put, the company has been making huge losses for a long time although its losses have narrowed gradually. <div type="image" title="tata tele" height="900" width="1200" msid="90685360" hostid="261"></div>The company is a business-to-business provider of calling and internet services for clients in Maharashtra and Goa. It provides connectivity and communication solutions ranging from connectivity, collaboration, cloud, security, internet of things (IoT), marketing solutions and so on. To add to the woes, the company has been struggling with a huge debt for a long time. Its net total debt stood at ₹19,315 crore as of March 31, 2021, rising from ₹16,634 crore in the previous year. The company in its annual report of 2021 has admitted that it experienced difficulties in its borrowing programmes in the past and the current economic scenario on account of the COVID-19 which may impact its existing debt adversely. Despite the company’s not-so-good balance sheet, shares of the company have hit the 5% upper circuit in several instances in the recent past. <div type="image" title="tata tele stock chart" height="900" width="1200" msid="90685374" hostid="261"></div>There are talks that the launch of high-speed 5G network will benefit the company in aiding broadband internet services in all villages. The company is banking on the new trend of digital transformation for enterprises since COVID-19 to provide an entire service of internet connectivity to a firm. “The pandemic has highlighted the importance of connectivity, with large enterprises seeking higher speeds and more data. Going forward it is expected that the small and medium sized businesses (SMBs) spending on information and communications technology (ICT) digital transformation solutions like cloud, digital collaboration, use of high speed internet and security solutions will increase,” the company said in its annual report. In fact, analysts suggest investors to stay away from investing in such highly speculative stocks because of lack of good fundamentals. “Tata Teleservices is a highly speculative stock trading with high volatility but low volume. Generally, investors should avoid investing in such type [sic] of manipulative stocks irrespective of its return as it is to compensate for the high risk associated with them,” said Ravi Singh, vice president and head of research at Share India. “We can’t conclusively say whether the company has performed due to any fundamental reasons or not. One more point to be noted is that in a bull run there are many penny stocks, which defy gravity and rise without any change in underlying fundamentals,” said Santosh Meena, head of research at, Swastika Investmart. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/a-weak-january-march-quarter-update-has-left-marico-investors-quite-upset/articleshow/90684739.cms">A weak January-March quarter update has left Marico investors quite upset</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/koo-is-the-first-indian-social-media-network-to-enable-aadhaar-based-verification/articleshow/90684374.cms">Koo now allows Aadhaar-based verification on its microblogging platforms</a>

This multibagger Tata stock gave exceptional returns to investors but analysts are not impressed

<ul><li>On Monday, Gunjan Patidar, Zomato’s co-founder and chief technology officer tendered his resignation.</li><li><keyword id="7349800" type="General" weightage="20" keywordseo="bharatpe" source="Orion">BharatPe</keyword>’s CEO Suhail Sameer has quit the top job to become its strategic advisor.</li><li>There has been a lot of churn in new-age companies like Nykaa, and also big techs like Meta India, WhatsApp Pay, Amazon India and more.</li></ul>New age companies in India have been hit by a flurry of exits by top executives, leaving them scurrying for replacements. This comes at a time when startups have been battling funding winter and elevated inflation, in a rising interest rate regime. BharatPe, a fintech is amongst those with multiple high profile exits, including its co-founder and former managing director Ashneer Grover, along with his wife Madhuri Jain Grover – who not only had to leave the company, but were also sued by BharatPe in December 2022 for ₹88.6 crore. The company alleged that both husband and wife engaged in misappropriation of funds including creating fake bills, enlisting fictitious vendors and so on. Adding to BharatPe’s woes is the <a href="https://www.businessinsider.in/business/startups/news/bharatpe-ceo-suhail-sameer-to-step-down-five-months-after-taking-over/articleshow/96703750.cms">departure</a> of its CEO Suhail Sameer on January 3. Sameer took over as the company’s CEO in August 2021, a year after being appointed as the company’s president. He will now serve as a strategic advisor starting January 7, 2023. Before Sameer, BharatPe witnessed the departure of four other high level executives last November. This includes Nehul Malhotra, head of PostPe which is BharatPe’s ‘Buy Now Pay Later’ arm. The others were the CTO Vijay Aggarwal; Rajat Jain, the chief product officer; and Geetanshu Singla, VP of technology. They moved on to pursue their own entrepreneurial passions, the company had then said in a statement. Zomato rocked by multiple top level exits, too Sameer’s resignation comes hours after Gunjan Patidar, Zomato’s co-founder and chief technology officer, tendered his resignation. Patidar was one of the first few employees of Zomato who built the core tech systems of the company. “Over the last ten plus years, he (Patidar) also nurtured a stellar tech leadership team that is capable of taking on the mantle of leading the tech function going forward. His contribution to building Zomato has been invaluable,” said the company. Patidar’s exit is the third high-level exit at the food delivery giant in two months. In November last year, another one of Zomato’s co-founders Mohit Gupta tendered his resignation. Its head of new initiatives Rahul Ganjoo; and Siddharth Jhawar, vice-president of global growth also quit in the same month. The list goes on as in September 2022, Zomato’s deputy CFO Nitin Savara also tendered his resignation. The company has been bleeding money and it reported a consolidated loss of ₹251 crore in Q2 FY23. New age companies’ top heads move in and out of big tech companies There is a lot of churn among top executives of new-age tech companies as well as big techs. Online beauty retailer Nykaa’s CFO Arvind Agarwal, who had been with the company through its IPO, quit and joined fintech major PayU as its India CFO, this November. On the other hand, new-age companies have also been able to attract executives from major companies into their fold as well. Case in point is Sugar Cosmetics who brought in Amit Aggarwal, Marico’s head of finance of its India business, as its CFO. Adding to it, Amazon India’s director of grocery, food and health Sameer Khetarpal resigned and moved to Jubilant FoodWorks as CEO, a franchisee that runs Domino’s Pizza, Dunkin Donuts outlets in India. Meta India country head Ajit Mohan tendered his resignation in November 2022, to join rival Snap as the President of Asia Pacific. Following this, WhatsApp India’s head Abhijit Bose and Meta India’s public policy head Rajiv Aggarwal also resigned. The latter joined Samsung India. WhatsApp Pay’s director and head Manesh Mahatme also left his position in September to join Amazon India as director, product and engineering. Last but not the least, another shocking exit was of Parag Agarwal, former CEO of Twitter who was fired by Elon Musk in October, a year after he was appointed for the position. Soon after his ouster, Agrawal changed his LinkedIn bio to “Not the CEO you are looking for”. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/radiant-cash-management-shares-debut-at-a-10-premium-after-company-reduces-ipo-size/articleshow/96727374.cms">Radiant Cash Management shares debut at a 10% premium after company reduces IPO size</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/shark-tank-indias-season-2s-sharks-meet-the-serial-investors-cas-and-iit-and-iim-alumni/articleshow/96714262.cms">Shark Tank India’s Season 2’s sharks: Meet the serial investors, CAs, and IIT and IIM alumni</a>

Zomato, BharatPe, Nykaa and more: the revolving door for top execs at new age companies

<ul><li><keyword id="774476" type="General" weightage="20" keywordseo="rishabh-mariwala" source="Orion">Rishabh Mariwala</keyword> stands to make as much as ₹184 crore if the IPO shares are subscribed at the upper end of the price band.</li><li>Honasa promoter Varun Alagh is expected to be richer by ₹103 crore at the upper end of the price band.</li><li><keyword id="6358615" type="General" weightage="20" keywordseo="shilpa-shetty" source="Orion">Shilpa Shetty</keyword> Kundra is all set to make as much as ₹45 crore from the share sale. </li></ul>Actress and brand ambassador of <keyword id="4548811" type="General" weightage="20" keywordseo="mamaearth" source="Orion">Mamaearth</keyword>, Shilpa Shetty, is all set to gain a windfall from its parent company Honasa’s initial public offer (IPO). However, she might not be the shareholder who will make the most from one of India’s most talked about IPOs this year. It’s Rishabh Harsh Mariwala, the son of Marico owner Harsh Mariwala, who stands to gain as much as ₹184 crore if all the shares are subscribed at the the upper end of the price band of ₹308-324. Rishabh Mariwala was an early investor in the D2C brands company, and acquired shares at ₹6.05, as per the company’s DRHP. He is also selling the most shares – 5.7 million – in the upcoming share sale and that makes him the biggest gainer from the IPO. <div type="image" title="rishabh mariwala" msid="104721117" hostid="261" sizebytes="13596" caption="&amp;lt;p&amp;gt;Source: Linkedin&amp;lt;/p&amp;gt;"></div> Rishabh Mariwala heads Sharpp Ventures which manages <a href="https://www.indiatoday.in/magazine/inheritors/story/20220103-rishabh-mariwala-sharrp-sighted-1892552-2021-12-26">Mariwala family office</a>, but he has also been keen on the beauty and the personal care sector. He runs Kaya which is known for skin clinics and products. He had also founded Soap Opera N More to market bath and body care products. This is in addition to introducing luxury skin products under the brand PureSense. The IPO, which opens on October 31 and ends on November 2, will see the promoter of the company, Varun Alagh sell 3.18 million sharese get richer by approximately ₹103 crore. However, his wife and co-founder of the company, <keyword id="4548812" type="General" weightage="20" keywordseo="ghazal-alagh" source="Orion">Ghazal Alagh</keyword> of Shark Tank fame, is selling only 1 lakh shares for ₹3.2 crore. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Name of the selling shareholder </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;">No of shares being sold </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;">Weighted cost of acquisition </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;">Possible gains from share sale (at upper end of price band) </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;">Varun Alagh </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;">3,186,300 </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;">Negligible* </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;">₹103 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;">Ghazal Alagh </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;">100,000 </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;">Negligible* </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;">₹3.2 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;">Rishabh Harsh Mariwala </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;">5,700,188 </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;">6.05 </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;">₹184.6 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;">Shilpa Shetty Kundra </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;">1,393,200 </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;">41.86 </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;">₹45 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;">Kunal Bahl </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;">1,193,250 </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;">3.21 </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;">₹38.6 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;">Rohit Kumar Bansal </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;">1,193,250 </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;">3.21 </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;">₹38.6 crore </td></tr></tbody></table>*Ghazal and Varun Alagh are promoters Bahl &amp; Bansal bag a better deal Snapdeal founders and serial investors Kunal Bahl and Rohit Kumar Bansal will also be selling 1.19 million shares each in the IPO. They will make around ₹38.5 crore each. It Is noteworthy that all these calculations are made at the upper end of the price band. They would also probably be making more profit from the investment than other selling shareholders as their weighted cost of acquisition is at ₹3 per share. Shilpa Shetty Kundra who stands to make as much as ₹45 crore from the share sale, has purchased the stock at a slightly higher cost. The weighted cost of acquisition for her is at ₹41 per share. The other selling shareholders include Fireside Ventures Fund, Sofina and Stellaris. The IPO stands to raise anywhere between ₹1,635 crore to ₹1,701 crore. It will open on October 31 and close on November 2.

This FMCG scion is all set to gain a windfall from Honasa Consumer IPO

<ul><li><keyword id="4548811" type="General" weightage="20" keywordseo="mamaearth" source="Orion">Mamaearth</keyword> parent Honasa Consumer plans to raise as much as ₹1,701 crore via an <keyword id="6354763" type="General" weightage="20" keywordseo="ipo" source="Orion">IPO</keyword>.</li><li>The price band is fixed at ₹308-324, and the IPO will open on October 31 and close on November 4.</li><li>The company intends to use net proceeds towards ad expenses, set-up outlets, and others. </li></ul>House of brands Honasa Consumer is planning to raise as much as ₹1,701 crore from its maiden public offer. The IPO of the parent company of Mamaearth brand will open on October 31 till November 4. The price band for the issue has been fixed at ₹308-324. Investors can bid for a minimum of 46 shares in multiples thereof. The issue is a combination of a fresh issue and an offer-for-sale. Some of its selling shareholders include its celebrity investor and actress Shilpa Shetty, Snapdeal’s Rohit Kumar Bansal and Kunal Bahl; and Rishabh Harsh Mariwala of the Marico family. This is apart from promoters Varun and Ghazal Alagh, Fireside Ventures Fund, Sofina and Stellaris. The company intends to use net proceeds from the fresh issue towards advertisement expenses, to set-up exclusive brand outlets, investment in its subsidiary, BBlunt, general corporate purposes and unidentified inorganic acquisitions. The issue allocates 10% of the offer to retail investors, 15% to non-institutional investors and 75% to qualified institutional buyers (QIBs). Kotak Mahindra Capital, Citigroup Global, J M Financial and J P Morgan are the book running lead managers of the issue and KFIn is the registrar. Loss on account of impairment The company has reported a progressive growth in revenue for the last three years. It slipped back into losses in FY23, after posting profits in FY22. It was due to an impairment loss it had to take in the last financial year to the tune of ₹154 crore. “This was primarily due to the management decision to scale down the majority of the business verticals of Momspresso, a content platform operating under our subsidiary, Just4Kids Services, and acquired by us in December 2021,” the company said. <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;">Particulars </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;">FY23 (consol) </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;">FY22 (consol) </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;">FY21 (standalone) </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;">Revenue from operations </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;">₹1,492 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;">₹943 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;">₹459 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;">Restated Profit/Loss </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;">(₹150.9 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;">₹14.4 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;">(₹1,332 crore) * </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: RHP * it represents a loss A top heavy profile While the BPC D2C brand has a wide array of products, most of its revenues depend on top 10 products. As of June 2023 end, a third of revenues from operations or around 29% of revenues came from these products. “While our dependence on sales of our top 10 products has been declining with increasing contributions from our other products, any decrease in the sales of our top 10 products, whether due to increase in sale of products or market share of competitors with similar products or any other reason, will adversely affect our business, results of operations, financial condition and cash flows,” the company said. Its top products include the Mamaearth brand, the Derma Co, Dr Sheth’s, and Aqualogica brands in the face care and hair care categories. Around 9% of its revenues came from the same two products. Moreoso, the auditor’s report on internal financial controls issued on its standalone financial statements in FY21 contains a disclaimer of opinion. The opinion relates to the auditors’ inability to obtain appropriate audit evidence to provide a basis for opinion on adequate internal financial controls. The company which depends on influencers also sees them as a business risk. “Influencers may use their platforms to communicate directly with our consumers without our knowledge in a manner that reflects poorly on our brands and may be attributed to us,” Honasa said. The company sells its products via its own D2C channel like its brand and mobile websites, and mobile applications. But its third party e-commerce marketplaces bring in the most sales. As of June 2023 end, it derives 64% of its revenue from operations from e-commerce marketplaces. High ad expenses &amp; heightened competition The company’s ad expenses stood at 34.99% of its revenue from operations as of June end. The company is also in a segment that’s extremely competitive. And some of these competitors are larger and have substantially greater resources than them. That gives them the ability to spend more on advertising and marketing and offer substantial discounts, the company says. Then, there is also the threat of new entrants which may have more flexibility in responding to changing business and economic conditions. “As the BPC products space has a fairly low barrier to entry, these new entrants could potentially heighten the competitive landscape, which may lead to intensified competition on pricing,” the company said. It also said that its subsidiaries acquired in the past, including Just4Kids, BBlunt, B:Blunt Spratt and Fusion, have incurred losses for certain historical periods. There is no assurance that these entities will be profitable in the future,” the company cites as its risk factors. The company has undertaken one criminal and three material civil proceedings. It has two tax and two material civil litigations proceeding against it, where the aggregate amount involved is ₹100 crore.

India’s largest D2C beauty company to raise ₹1,701 crore via an IPO

<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>

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