Q4FY21 Result Update - Jyothy Laboratories - ICICI Direct

Jyothy Labs reported 27.2% revenue growth in Q4FY21 led by strong growth in dishwashing, household insecticides & personal care segment. However, the number is still disappointing considering the base quarter saw 24% topline de-growth. The company rationalised trade inventory pipeline by 10 days, impacting sales by 8-10%. Dish washing segment saw 33.2% sales growth led by continued trend of higher home cooking & increased usage of trusted dishwashing brands. HI & personal care segment saw 35.8% & 38.4% growth, respectively, due to similar sales decline in base quarter. Fabric wash grew at a slower pace of 15.8% given post-wash category continued to stay impacted by out of home activity (schools, offices are affected by pandemic). Gross margins remained at similar levels despite a sharp increase in crude based raw materials. However, with savings of 122 bps in employee spends, 121 bps savings in marketing spends & 95 bps savings in other overhead spends, operating margins expanded 368 bps to 14.3%. Operating profit grew 71.2% to Rs. 69.8 crore. The high growth was mainly due to sharp contraction in operating margins in the base quarter. PAT grew 1.1% to Rs. 27 crore with Rs. 23.5 crore exceptional expense due to reversal on write back of excise duties of previous years. After excluding one-off expense, PAT grew 89.2% to Rs. 50.5 crore.

For details, click on the link below: Link to the report

Shares of JYOTHY LABORATORIES LTD. was last trading in BSE at Rs.144.95 as compared to the previous close of Rs. 150.7. The total number of shares traded during the day was 111830 in over 3614 trades.

The stock hit an intraday high of Rs. 151 and intraday low of 144. The net turnover during the day was Rs. 16420998.

Source : Equity Bulls

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