Emami posts a resilient performance

Emami Limited reported turnover of the company at ₹ 726 crore and posted flat growth due to severe liquidity crunch in domestic markets and poor economic conditions in Middle Eastern countries. Muted growth in the quarter with 9MFY17 growth at 9% in Consolidated Sales.

Despite the liquidity crunch owing to demonetization, the company’s domestic business delivered a topline growth of 3% during the quarter. In 9MFY17, the domestic business grew by 12%. Further, new launches such as Fair & Handsome Face Wash, 7 Oils in One and HE Deodorants performed well.
 
Mohan Goenka, Director, Emami Limited said, “Despite challenging domestic and international macro- economic factors, Emami has been able to perform satisfactorily. While liquidity crunch and sales channel disruption impacted the offtake of some of our brands in domestic market, challenging geo-political situation particularly in Middle East, Africa and other countries impacted the international performance to some extent. With the post demonetization situation improving and the consumer sentiment getting back on track gradually, Emami is poised to capture this positive sentiment and target a good performance in the days to come.”

 Harsha V Agarwal, Director, Emami Limited said, “Muted performance in the third quarter is in line with our expectation because of the prevailing depressed market sentiments. However, despite lower offtakes, all our major brands have improved their market shares. Our winter brands such as BoroPlus and Vasocare have performed satisfactorily due to focused and targeted media campaigns and other brand initiatives. We continue to invest on our brands judiciously and expect to grow with the improving economic conditions.”