Weak festive season demand continues to weigh on Emami Ltd.'s volumes, according to NH Bhansali, its chief executive officer of Finance, Strategy and Business Development.
“Its (domestic volumes in the ongoing quarter) still something to be seen because the festive season was not that encouraging,” Bhansali said, adding that an uptick in sales has not come as yet. “The problem continues. We expect more impact in the fourth quarter.”
Emami's operational performance in the second quarter was largely in line, a research note by Emkay Global said. Its domestic business, however, continues to be weak with growth across most core brands declining, the note said.
The company's sales from domestic business grew 3 percent on a yearly basis and volumes grew 1 percent year-on-year. Excluding Boroplus, which grew 39 percent due to winter stocking, the performance across brands was weak, with Navratna, Kesh King and male grooming declining and healthcare being flat, the research note said.
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