BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Jyothy Laboratories Ltd. reported an in line operating performance in Q2 FY23.
Standalone net sales grew 11.8% YoY to ~Rs 6,464 million (in-line). Ebitda grew 19.5% YoY to Rs 802 million (in-line).
Profit before tax grew 46.6% YoY to Rs 733 million (our estimate: Rs 629 million) on account of lower depreciation, which stood at Rs 112 million versus Rs 206 million in Q2 FY22.
Adjusted profit after tax grew 48% YoY to Rs 624 million (our estimate: Rs 531 million).
Gross margin remained flat YoY at 39.6%. Ebitda margin expanded by 80 bps YoY to 12.4%.
Fabric care/dishwashing/ household insecticides/personal care grew by ~33.6%/5.6%/(30.7%)/ 10.8% YoY to Rs 2,862 million/Rs 2,279 million/Rs 435 million/Rs 733 million in Q2 FY23.
Jyothy Lab's margin in the fabric care/household insecticides/personal care segment contracted by 100 bps/1260 bps/490 bps YoY to 15.1%/(18.2%)/10.1%, but expanded by 420 bps to 15.4% in the dishwashing segment.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.