Household insecticides and Indonesia disappointed in Q2 after strong Q1 show
Industry estimates are that the domestic hand sanitiser market, which, before the pandemic stood at Rs 60 crore in size, has now grown five times to touch Rs 300 crore in size
The momentum indicators and oscillators on the weekly scales are still in 'buy' mode
Domestic business grew 5% in the June quarter; the fall in Africa biz was 22%
Maruti Suzuki, Bajaj Auto, and Hero MotoCorp's tax collections were down 60-85 per cent.
Sales recovery in non-metros better than metros
Growth will be driven by higher volumes, says company
The company has lagged peers in earnings, stock returns in the outgoing MD's tenure
A former partner at Bain and Co in India, Gambhir, 51, joined the Godrej Group in 2009
Firm sees momentum in key segments continuing this year
Sectorally, IT stocks took the biggest knock as the Nifty IT index declined 3.5 per cent to 13,293.70 levels. Nifty Bank lost 566 points or nearly 3 per cent to 19,068.50 levels
Trading at 77x, its trailing 12-month net profit against industry average of about 43x
High revenue decline resulting in weak operating leverage to result in 220 bps fall in operating profit margin
Marico said it would see a "modest decline" in its Ebitda for the March quarter due to an unfavourable product mix
The stock erased its entire gain recorded during January.
The company continued to focus on volumes
The brokerage expects a likely expansion in the company's operating margin of its international business.
Federation of All India Distributors Association steps in to lend support
Lower realisation led to 1.3% fall in sales despite 7% rise in domestic volumes, while one-off gains last year led to fall in profit; earnings outlook improves
Each of the two key segments, household insecticides and soap (around 75 per cent of domestic sales), reported a 7 per cent volume growth in Q2 versus a decline or muted volumes in the April-June qua