Emami - Steady Growth; Ebitda Margins Grew From Its Lowest In The Last Five Years: Dolat Capital

Dolat Capital Report

Emami Ltd. annual report analysis indicates steady growth in FY24. Revenue from operations grew 5.1% from Rs 34.1 billion in FY23 to Rs 35.8 billion in FY24, while Ebitda grew 10.1% from Rs 8.6 billion to Rs 9.5 billion in FY24.

The Ebitda margins grew from its lowest in the last five years, at 25.3% in FY23 to 26.5% in FY24. The profit after tax also grew 15.4% from Rs 6.3 billion in FY23 to Rs 7.2 billion in FY24. Profit after tax margin moved up from 18.4% to 20.2% in FY24.

In FY23-24, the company launched more than 35 new products and variants in the domestic business, primarily as digital-first launches on its D2C portal, Zanducare. Emami introduced “Agni Balm”, a robust multi-purpose balm to counter regional balm brands.

It also launched a new variant “Navratna Cool Talc Arctic Blossom” with Ylang-Ylang fragrance. Also “BoroPlus Aloe Neem Body Lotion”, a summer variant, was launched successfully in the Body Lotion category.

The FMCG market reached $ 167 billion as of 2023, wherein the urban segment contributed 65% whereas rural India contributed more than 35% to the overall annual FMCG sales.

The FMCG sector is expected to grow to $ 192 by the end of 2024 and reach $ 220 billion in 2025. Household and personal care accounted for 50% of FMCG sales in India.

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