Jyothy Labs Limited Records Net Sales of Rs. 585.4 Crores in Q2FY2022

MUMBAI:
Jyothy Labs Limited, one of the leading Indian FMCG companies announced today its financial results for the quarter ended 30 September 2021. The Company delivered sales of ₹ 585.4 crores, increase of 16% value growth against the same period last year.

The Company posted good results backed by recovery across all channels and categories. The commitment from all stakeholders to build scale with agility and continued focus on brand building with relevant innovations and strengthening distribution with aid of technology and addition of manpower to enhance market execution has sustained our journey in gaining market share across Brands.

Our market penetration strategy to focus on core business growth by gaining higher market share along with market development strategy by seeking growth from selling existing products in new markets has built a strong revenue pipeline. This has been aided by new users driving growth in lower penetration categories like Dishwash and Household Insecticide.

Due to consistent rise in input prices, there has been a margin pressure which has been partially managed with calibrated price hikes and persistent cost rationalisation measures. We are taking necessary steps to balance between higher volume growth, market share and margins keeping in mind long term benefits for all the stakeholders.

Our Focus on technology led distribution has geared us to be digitally first business model. We have made a good start and will continue to accelerate our efforts to seek higher productivity.

FINANCIAL HIGHLIGHTS (Q2FY2022 results over same period last year)
 Net Sales at Rs. 585.4 Crores, up by 16%. 2 year CAGR growth of 11%
 EBITDA at Rs. 66.6 (11.4% to net sales) Crores versus Rs 87.4 Crores (17.3% to net sales)
 Net Profit at Rs 44 Crores versus Rs. 60.1 Crores

FABRIC CARE – Fabric Whitener, Fabric Enhancer, Bar Soap and Detergent Powder. Fabric Care sales increased by 25.2% for Q2 FY2022 over same period last year. The segment has seen improvement in sales in particular post wash segment with easing of mobility during the quarter. Also, all the channels contributed to the growth as compared to previous quarters.

DISHWASHING – Dish Wash Bar, Liquid, Gel, Powder and Scrubbers.
Dishwashing sales increased by 12.7% for Q2 FY2022. The growth is supported by increased in-house consumption, augmented emphasis on hygiene and strong distribution focus across all channels. Besides, smaller SKUs have gained acceptance and are selling strong in rural markets thereby thrusting growth in revenues and individual brand trajectory.

HOUSEHOLD INSECTICIDES – Mosquito Repellent Coil, Incense Sticks and Liquid Vaporizer. Household Insecticides sales increased by 4.1% for Q2 FY2022. The sales were satisfactory however were impacted due to seasonal trends. We continue to focus on Liquid format with our ‘Fit all Machines’ Liquid Vaporiser Bottle highlighting its unique offerings.

PERSONAL CARE – Body Soap, Face Wash, Hand Wash, Sanitizer and Toothpaste. Personal Care Sales have increased by 5.3% for Q2 FY2022 over same period last year. Our Neem based Margo portfolio of Soaps, Handwash, etc continues to register good growth as hygiene is of utmost importance for consumers.

Commenting on the financial performance of Q2FY2022, M R Jyothy, Managing Director, Jyothy Labs Limited said “ Our focus on execution to build scale with agility has created value for all our stakeholders. We are consistently achieving higher sales growth resulting in market share gains across categories which will strengthen the organization in the long term.

In the short term, we are facing margin pressure due to high raw material prices, however, we believe we have strategic levers to overcome as our sales growth has been encouraging and affirmative. In these challenging environment, our focus continues firmly on execution and aligned to achieve higher growths’’