Page 10 - Fmcg Companies

Uneven monsoon weighs on demand for FMCG firms in July-Sept quarter

Volumes to remain steady in the quarter on a sequential basis

DS Group to invest Rs 500 cr, add 3 hotels to its portfolio in 3 years

The Dharmpal Satyapal (DS) Group, a multi-business and FMCG corporation, is planning to add three new properties with a capex of Rs 500 crore in next 3 years, a top company executive has said. "Currently, we have six hotels with around 930 keys operating under global hospitality brands including Radisson, IHG and Marriott. We are planning to add another three hotels to our portfolio with a capex of Rs 500 crore in the next three years," DS Group vice chairman Rajiv Kumar told PTI over phone. DS Group, which has been in the hospitality business since 2000, has six properties, including The Manu Maharani, a member of Radisson individual, in Nainital (Uttarakhand), Namah, a Radisson individual, Jim Corbett National Park (Uttarakhand), Radisson Blu Hotel Guwahati in Assam, Crowne Plaza Jaipur in Rajasthan, Holiday Inn Express Kolkata Airport in West Bengal, and Marriott managed Renaissance, Bengaluru, in Karnataka. Going forward, Kumar said, the company is looking for opportunities in t

Nestle to sell 40 gm Maggi packets for Rs 10 to expand market share

Price points such as Rs 5 and Rs 10 are easier to remember and are perceived as being affordable by customers

FMCG cos push cart of margin worries made heavy by commodity cost pick-up

A subpar monsoon in one year is unlikely to cause a meaningful dent in major cereal production, a spike in inflation, or a deceleration in FMCG growth, says IIFL Research

Tata Consumer 'narrows its universe'; identifies 5 core areas for launches

Within mini meals, it will look at the breakfast cereal, ready-to-eat, and snacks market, and also its protein platform, which includes plant-based meat and plant protein powders

Tata Consumer Products in talks to buy at least 51% stake in Haldiram's

Tatas are, however, not comfortable with the $10 billion valuation sought by the snack maker

ITC Q1FY24 results: Net profit rises 16% to Rs 5,180 cr, revenue down 6%

The company also announced acquisition of 45.36% stake in International Travel House Limited and 25% stake in Maharaja Heritage Resorts Limited

ITC AGM, Q1FY24 nos: When will the stock breakout from consolidation mode?

ITC shares have corrected 10 per cent from their record high level of Rs 499.6, hit on July 24, 2023, as investors booked profit post the hotel business' demerger announcement

Adani Enterprises denies reports of exiting $6 billion venture with Wilmar

Earlier this week, Bloomberg reported that Adani Enterprises is exploring selling its stake in its consumer-staple joint venture with Wilmar International

Unilever's venture capital arm invests in health & wellness startup

FMCG major Unilever's venture capital arm Unilever Ventures has invested Rs 14.40 crore in health and wellness company What's Up Wellness to ramp up the startup's team and product development. "The (seed) funding round was led by its sole new investor, Unilever Ventures...Notably, this marks Unilever Ventures' first investment in a health & wellness company," Gurugram-based What's Up Wellness said in a statement on Wednesday. The funding round also saw participation from a few of What's Up Wellness' existing investors, it said. "Investment in What's Up Wellness is in line with our strategy of supporting and investing in promising indie brands in the health & wellness space. India presents a large opportunity for the wellness segment and What's Up Wellness, with its innovative and modern formats, aims to capture this fast-transforming market," said Pawan Chaturvedi, Partner-Asia at Unilever Ventures. What's Up Wellness said it will utilise the fresh fund towards ramping up its .

Marico Q1FY24 results: Net profit of FMCG giant rises 13.5% to Rs 436 crore

The revenue from operations was down 3.16% to Rs 2,477 crore from Rs 2,558 crore last year

Jyothy Labs Q1FY24 result: Profits up 101.7% YoY, revenue rises 15%

The company expects that the government's push towards raising rural incomes will result in a growth in rural consumption which the company is likely to benefit from

Demerger to boost ITC's cash flows, create India's 2nd biggest hotel group

The demerger will however have only a marginal negative impact on ITC overall earnings and share price given the hotel division miniscule contribution to its consolidated finances

FMCG firm Marico expects food business to reach Rs 850 cr in FY24

Home-grown fast moving consumer goods (FMCG) firm Marico expects its food business to scale up to Rs 850 crore in FY24 in the domestic market, according to the company's latest annual report. Saffola, the master brand under which Marico offers healthier foods, has expanded the total addressable market to over Rs 10,000 crore, through a portfolio of healthy value-added offerings, it said. "The company aims to ramp up its revenue from the foods portfolio to Rs 850 crores by fiscal 2024, after closing near the Rs 600 crore-mark in fiscal 2023," said Marico, which also owns popular brands such as Parachute and Hair & Care. In the last two-three years, Marico has expanded its play in the food segment with multiple products, including oats, honey, noodles, peanut butter, mayonnaise and ready-to-eat healthy snacking category under the aegis of Saffola Munchie. The company maintains a 'steadfast focus' on market development, brand building, supply-chain excellence, distribution expansion .

Revenue growth for FMCG companies to tamp down in April-June quarter

Some companies are yet to see pick-up in rural demand

FMCG industry to witness 'significant growth' in FY24: Jyothy Labs

The fast moving consumer goods (FMCG) sector is expected to see a 'significant growth' in FY24 with rural demand showing improvement and inflation beginning to moderate, said Jyothy Labs in its latest annual report. The urban demand continues to remain steady, the report said. Growth is "fuelled" by large packs as there is a distinct trend of consumers upgrading to medium and high-value packs for its various key FMCG categories, said Jyothy Labs, maker of branded products like Ujala, Henko, Margo, Exo and Pril. "In this pack size transition has been observed in beverages, personal care, and branded product categories. Now that input prices have exhibited a downward trend and end-consumers have sufficient purchasing power, FMCG businesses are likely to experience an increase in the volume of demand and consequently volume-led growth this year," it said. The urban demand is steady now and the rural market is "increasingly exhibiting signs of normalcy" helped by easing inflation and .

Five additional brands crossed Rs 100 cr in sales in FY23, says Dabur India

With reduced prices for most of its commodities, Dabur India expects to see expansion in gross margins in the current fiscal; the FMGC major has made an entry into the spices category

Optimistic about India market, will continue to grow categories: P&G

Leading FMCG maker Procter & Gamble is very "optimistic" in the mid and long-term prospects of India, where it will invest Rs 2,000 crore to set up an export hub, on the back of robust growth, according to company's country CEO LV Vaidyanathan. Procter & Gamble (P&G) India will continue to grow categories that are currently undeveloped and bring product propositions that are meaningful to the quality-conscious Indian consumer, he said. In the last three years, P&G has driven consistent double-digit growth in both the topline and bottomline. "Business has basically moved from the last couple of years seeing high single growth. Now we are starting to see very nice growth and hope to see some kind of momentum going and accelerate from where we are," Vaidyanathan told PTI. The maker of popular brands such as Ariel, Gillette, Head & Shoulders, Oral-B, Pampers, Pantene, Tide, Vicks and Whisper - follows July to June financial year. "Year is coming to an end and business .

3.45% increase in royalty to parent Unilever after detailed evaluation: HUL

The decision to increase royalty to 3.45 per cent to parent Unilever was taken after a detailed evaluation and due diligence, Hindustan Unilever Ltd Chairman Nitin Paranjpe said on Monday. Earlier this year, leading FMCG maker Hindustan Unilever Ltd (HUL) increased the royalty paid to Unilever PLC to 3.45 per cent of the total turnover, which will be effected in phases over the next three years. Earlier, this was 2.65 per cent. While addressing the shareholders in response to a question about the rationale of such an increase, Paranjpe said the change was made "after plenty of due diligence and satisfying ourselves that we are getting adequate value for this payment that is royalty payment which is being made". Before this, the company has also looked at the royalty paid by other FMCG companies to their parent global firms, he said. The contract terms that "we have got, were subjected to a detailed evaluation and due diligence first by a senior team from within the company. And the

Rural demand growing very slowly after signs of revival: Wipro Consumer

Company expected demand to be much better due to low base last year. While volumes are back, growth is still in low single digits