Emami records double digit growth in male grooming range

Emami Limited, despite the challenging business environment, reported steady growth during the second quarter delivering a robust volume growth of 10% with total revenues (including GST/ VAT) growing by 14%. While the domestic business grew by 14%, International business also grew by 22%. Destocking in CSD and wholesale channel disruption however continues. In the Domestic Business, Male Grooming range, BoroPlus, Navratna, Pain Management Range grew in double digits.

Mohan Goenka, Director, Emami Limited said, “After a challenging Q1 faced with GST apprehensions resulting in substantial wholesale destocking, in the second quarter, we have recovered significantly. Both topline and bottomline have registered handsome growth at around 14% and 49% respectively. Post GST, the wholesale retail channels are yet to recover completely from the impact, which we expect to improve in the 2nd half of the year. International business is also back on track riding on the base effect of last year’s performance. The SAARC regions and Africa did particularly well.”

Although global business environment remained volatile and challenging, International Business delivered a growth of 22% in Q2FY18 led by SAARC, CIS and Africa. Further, Emami continued to gain market shares across majority of its portfolio.

Harsha V Agarwal, Director, Emami Limited said, “The overall industry environment is showing the early signs of recovery with stabilisation of the post GST scenario. Amidst this, all our brands have also performed quite satisfactorily in the 2nd quarter of this fiscal. BoroPlus, Navratna along with the Pain Management and Male Grooming range have registered good growth in this quarter. The overall performance of the healthcare portfolio has been satisfactory. This quarter, we have launched some innovative and interesting products like BoroPlus Zero Oil Zero Pimple Facewash, Emami Diamond Shine Crème Hair Colour and Fair and Handsome Laser 12. We expect these new launches to receive encouraging consumer response in the days ahead.”