Home insecticides business takes sheen off Jyothy Labs' Q4

Growth in volumes recovers after note ban; news flow on open offer the near-term trigger

Sheetal Agarwal  |  Mumbai 

Weak show of the household insecticides business (under the brand name Maxo), which forms about a fourth of Jyothy Laboratories’ (Jyothy Labs’) revenue, pulled down overall growth in the March quarter (Q4). Consequently, the company’s consolidated revenue grew 4.2 per cent year-on-year (y-o-y) to Rs 446 crore, missing the Bloomberg consensus estimate of Rs 478 crore.  While peer Godrej Consumer Products (GCPL), too, witnessed some pressure on its household insecticides revenues in Q4, this business grew four per cent; but for Jyothy Labs, the ...

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Home insecticides business takes sheen off Jyothy Labs' Q4

Growth in volumes recovers after note ban; news flow on open offer the near-term trigger

Weak show of the household insecticides business (under thebrand name Maxo), which forms about a fourth of Jyothy Laboratories' (JyothyLabs') revenue, pulled down overall growth in the March quarter (Q4).Consequently, the company's consolidated revenue grew 4.2 per cent year-on-year(y-o-y) to ~446 crore, missing the Bloomberg consensus estimate of ~478 crore. While peer Godrej Consumer Products (GCPL), too, witnessedsome pressure on its household insecticides revenues in Q4, this business grewfour per cent; but for Jyothy Labs, the household insecticides' revenues fellsix per cent y-o-y in Q4, indicating it could have lost market share, unlikeGCPL which maintained its leadership position. While the company believeshousehold insecticides could improve in case of a normal monsoon, the Streetwill keep a close watch on it given the competitive intensity and its highcontribution to Jyothy Labs' top line.Other than the flattish growth in the smaller segment oflaundry services, Jyothy Labs' Weak show of the household insecticides business (under the brand name Maxo), which forms about a fourth of Jyothy Laboratories’ (Jyothy Labs’) revenue, pulled down overall growth in the March quarter (Q4). Consequently, the company’s consolidated revenue grew 4.2 per cent year-on-year (y-o-y) to Rs 446 crore, missing the Bloomberg consensus estimate of Rs 478 crore.  While peer Godrej Consumer Products (GCPL), too, witnessed some pressure on its household insecticides revenues in Q4, this business grew four per cent; but for Jyothy Labs, the ... image
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