August 7th 2023.
Emami Limited, a leading personal and healthcare company, announced its financial results for the quarter ended June 30, 2023 through an exchange filing on Monday.
The Company's consolidated Revenues grew by 7 percent during the quarter to Rs 826 crore, with Domestic Business growth at 7 percent and International Business at 8 percent with a constant currency growth of 11 percent.
Modern Trade and eCommerce grew by 45 percent and 47 percent respectively, contributing to 9.7 percent each to Domestic Business and increasing their saliency by 250 basis points and 260 basis points respectively.
Commenting on the results, Harsha V Agarwal, Vice Chairman and Managing Director, Emami Limited said, “We are happy to report a 7 percent growth in domestic business despite challenging operating environment. While erratic summer & unseasonal rains impacted summer product offtakes, our non-summer portfolio grew strongly by 16 percent. International business also continued its growth trajectory with 11percent constant currency growth."
The quarter saw an expansion of Gross margins by 240 basis points at 65.4 percent and EBIDTA at Rs 190 crore grew by 10 percent with margins at 23.0 percent expanding by 60 basis points. Profit after Tax at Rs 138 crore grew by 87 percent with PAT margins at 16.7 percent expanding by 720 basis points.
The Company also concluded the Buyback of its shares amounting to Rs 185.3 crore. Following the Buyback, the share capital reduced from 44.12 crore to 43.65 crore equity shares and the promoter stake increased from 54.27 percent to 54.84 percent.
As per the records at 3:30 pm IST on Monday, the shares of Emami Limited were at Rs 460.05, up by 2.19 percent. The company's performance in the quarter ended June 30, 2023 is a testimony to its resilience and competence in a challenging operating environment.
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