Page 4 - Consumer Goods

From hatchbacks to holidays, consumers ready to loosen purse strings

Consumer goods firms expect 40-50% growth in premium segment; hospitality industry expects heightened activity in coming weeks

All eyes on rural recovery and volume growth in FMCG post Q1 results

Brokerages have highlighted that the second half of the year will be closely observed

Jaiprakash Associates defaults on repayment of Rs 4,044 crore loans

Crisis-hit Jaypee Group's flagship firm Jaiprakash Associates has defaulted on loans worth Rs 4,044 crore, including principal and interest amount. In a regulatory filing on Friday, Jaiprakash Associates Ltd (JAL) informed that the company on June 30th defaulted on repayments of a principal amount of Rs 1,660 crore and interest of Rs 2,384 crore. The loans pertained to various banks, and the nature of the obligation is fund-based working capital, non-fund-based working capital, term loans and FCCB (foreign currency convertible bonds). "The total borrowing (including interest) of the company is Rs 29,477 crore, repayable by 2037, against which only Rs 4,044 crore is overdue as on June 30, 2023," JAL said. Out of the total borrowing of Rs 29,477 crore, the company said that Rs 18,319 crore will get further reduced on transfer to the proposed Special Purpose Vehicle (SPV) for which the scheme of arrangement, duly approved by all the stakeholders, is pending sanction of National Compan

Margin pressure for consumer electrical companies to continue in Q4

Volumes key as costs rise and firms refrain from hiking prices of products

FRAI appeals Centre to cut high taxes on daily goods to stem illicit trade

FRAI made a representation to Finance Minister Nirmala Sitharaman with an appeal to protect the interests of its 80 lakh retailers

Rural demand for FMCG products nears positive territory in December

Overall demand from rural areas declined 0.2 per cent on a month-on-month basis in December while it was down 17 per cent in November, according to Bizom's data

India's consumer good shipments to Russia rise for 2nd month in Oct: Govt

During October, India exported goods worth $280 million, up 3.7 per cent as compared to a year ago, led by demand for items such as vegetables, tea, coffee, chemicals as well as iron and steel product

German company Henkel re-enters consumer segment with Schwarzkopf

German consumer goods firm Henkel, which has re-entered the consumer market in India after around a decade, is betting on the beauty segment in which it is working to build a holistic hair solutions portfolio, a company official said. With the consolidation of its consumer business at the global level, led by a successful merger of beauty care, laundry and home divisions, Henkel foresees a powerhouse of international bestsellers hitting the Indian market, said Kartik Kaushik, Country Head-Henkel Consumer Brands, India and South Asia Export. Henkel has introduced hair colourant brand Schwarzkopf in the consumer segment and also plans to launch another brand TAFT in India in the near future. "Hair colour is just the beginning of the India journey. The goal is to build a holistic hair solutions portfolio," Kaushik told PTI. According to Kaushik, there is a "bull run" for hair solution products in India and the growth trajectory is high. "The idea is to create a structured distributio

Capital, consumer goods output under pressure as demand, investments slow

Segments are yet to recover from pre-covid period of 2019-20 when the economy started slowing down

FMCG firms staring at muted revenue growth amid inflation, low rural demand

Sluggish rural demand along with higher inflation is set to mute revenue growth of the fast-moving consumer goods (FMCG) sector at 7-9 per cent this fiscal and the next compared to 8.5 per cent in the previous fiscal, a report said. Almost 40 per cent of the Rs 4.7-lakh-crore sector come from the hinterland markets, which have been hit by high inflation, low wages and high job losses since the Covid pandemic. Revenue growth of the FMCG sector will be muted at 7-9 per cent this fiscal and the next compared to 8.5 per cent in the last, while volume growth will be just about 1-2 per cent, down from 2.5 per cent last fiscal, Crisil said in a report on Monday. The report attributes the tepid revenue growth to the many price hikes the FMCG companies effected during the year to cushion the impact of surging input costs. Next fiscal too, the sector should see almost similar pace of growth as inflation is likely to remain high but will improve if prices moderate, the report added. The agen

More price increase unlikely this financial year: Britannia MD Varun Berry

Berry told Business Standard in an interview that the company was aiming to increase its revenues from cheese products by five times within the next five years

Amul's utterly butterly supply melts; eateries switch to alternatives

Consumers across the country have reported a shortage of Amul butter in the market

Britannia Industries enters into a JV with French cheese maker Bel SA

It sells 49 per cent stake in Britannia Dairy for Rs 262 crore

Debutants put up a good show; Medanta soars 24%, Bikaji Foods up 6%

Medanta's stock hit a high of Rs 424.65 and a low of Rs 390.55 on the NSE, where Rs 2,000 crore worth of shares changed hands

Emami Sept quarter net flat at Rs 184 crore, pre-tax profit dips 18%

Company says gross margins shrank 230 bps in Q2FY23 due to inflationary pressures and an unfavourable portfolio mix due to extraordinary high sales of pain management products last year

Patchy rains, inflation hit rural sales of FMCG companies: NielsenIQ

Volumes decline 3.6%; urban areas sustain at 1.2 %: NielsenIQ

FMCG companies watch rural demand with bated breath as pain persists

In October, FMCG sales in rural areas stood at 0.8 per cent while urban sales declined 0.1 per cent against September, according to data by Bizom- a retail intelligence platform

As rural demand weakens, FMCG distributors offer more credit to retailers

The frequency with which distributors procure stocks from companies has reduced

Marico expands plant-based protein portfolio with Saffola Soya Bhurji

Product launched in Bengal, Delhi and Mumbai across general trade; will be available pan-India in phases, and across modern trade and major e-commerce platforms as well

P&G India set up Rs 200-cr 'Technovate Fund' to solve business challenges

The firm has also committed to spend more than Rs 1,300 crore in business solutions through its 'vGrow' platform