Page 13 - Fmcg

Foods give ITC an appetite for diversification, recipe for margin expansion

The largest chunk of the tobacco major's non-cigarettes FMCG portfolio is growing rapidly on the back of hectic brand building, acquisitions, and new ventures

Operating environment to remain volatile amid global slowdown: HUL

Leading FMCG maker HUL expects the operating environment to remain volatile with global slowdown risks and weather-related uncertainty although price increase will tail off. In its annual report for 2022-23, the company said it anticipated a recovery in market volume gradually as consumption habits readjust with a lag. In the near term, the operating environment is expected to remain volatile with global slowdown risks and weather-related uncertainty, said the report. It further said,While inflation has moderated, commodities remain elevated vis--vis longer-term averages. Looking forward, we expect that the price-volume growth will rebalance. In the March quarter earnings call, HUL said the rural slowdown is "bottoming out" and a gradual recovery in volume is expected. However, HUL also warned that the near-term operating environment is likely to remain volatile due to global slowdown risk and uncertainty related to weather phenomena like El Nino, and heat waves. On the medium to

HUL well placed to partner India growth story, says Chairman Nitin Paranjpe

Paranjpe said that HUL is well-placed to partner the India growth story and is committed to playing its role in creating a sustainable and equitable future

FMCG firm Adani Wilmar enters whole wheat category with Fortune brand

Food FMCG company Adani Wilmar on Friday said it has entered into the whole wheat category with its brand Fortune. With this pure whole wheat variants of Sharbati, Poorna 1544, Lokwan and MP Grade 1 will be available in Delhi, Maharashtra, Madhya Pradesh, Gujarat, Rajasthan under Fortune brand, Adani Wilmar said in a regulatory filing. Adani Wilmar will be the only national player in this highly fragmented and commoditised category to provide an access to the purest wheat seed of the most premium wheat varieties in the country. "Traditional wheat connoisseur households in the west and north of the country are very selective about their preferred wheat varieties which they get ground under their supervision in neighbourhood chakki stores. The range of Fortune Whole Wheat varieties will give them just what they are looking for and will stand out for their clearly superior quality and variety assurance," Adani Wilmar Associate Vice President - Marketing and Sales Vineeth Viswambharan .

Eye on exports, Bikano launches frozen products in international market

Bikano hopes to capitalise on prospects in the international market and anticipates sales of Rs 200 crore in 2023-24

Indian market offers opportunity of innovation for Nescafe: Nestle official

India is one of the fastest growing markets for Nescafe and offers a "huge opportunity" for innovation and premiumisation, according to a senior Nestle official. Nescafe is a coffee brand owned by leading Swiss food company Nestle. Nestle's Head of Coffee Strategic Business Unit Philipp Navratil, who is on an India visit, said the company is encouraged by the new coffee culture brewing in India with the opening of new coffee shops. "India is one of the fastest growing markets for Nescafe and offers a huge opportunity for penetration-led growth, both through in-home and out-of-home consumption," he said in a statement issued by the company on Tuesday. According to him, Nescafe has already reached a household penetration of 46 million in India, which is a substantial number. He also said there is a "huge opportunity" to bring Nescafe to the world, making it more affordable to consumers. "We believe Nescafe is perfectly positioned to introduce the world to coffee -- we are more ...

ADF Foods' net profit increases by 72% to Rs 20 cr in March quarter

FMCG company ADF Foods Ltd on Monday reported a 72 per cent rise in its standalone profit after tax to Rs 20.30 crore for the March 2023 quarter on account of higher revenues. It had reported a PAT of Rs 11.80 crore for the year-ago quarter, the company said in a statement. The company's revenue from operations surged 19 per cent to Rs 98.2 crore from Rs 82.4 crore in January-March FY22. The board has recommended a dividend of Rs 5 per share for the financial year ended March 31, 2023. On a business update, ADF Foods said its greenfield expansion plan for frozen food capacity is expected to kick off in the second quarter of FY24 and be complete in 12-18 months. ADF Foods Chairman & Managing Director Bimal Thakkar said, "Our flagship brand Ashoka remains a top Indian food brand in stores across the US, UK and Asia Pacific, thanks to our dedication towards traditional recipes and high-quality ingredients. Our planned expansion in Surat will unlock further frozen food production ...

FMCG sales slow on lower stocking; home care only category to report growth

Home care was the only category which saw growth on a year-on year basis in April at 11.2% however it was down sequentially at 20.9%

Marico reappoints Saugata Gupta as MD, Rajan Mittal joins as Ind Director

FMCG major Marico on Friday said its board has re-appointed Saugata Gupta as its Managing Director and Chief Executive Officer for another term of two years. Gupta's reappointment is effective from April 1, 2024. The board of Marico, in its meeting held on Friday, approved "re-appointment of Saugata Gupta as the Managing Director & Chief Executive Officer for a term of two years w.e.f. April 1, 2024 to March 31, 2026." He had joined Marico in 2004 as the Head of Marketing and was elevated to CEO of India Business in 2007. In 2014, he took over as Managing Director of the company. Besides, the company's board has appointed Rajan Bharti Mittal as an independent director for a term of five years, beginning from July 1, 2023 to June 30, 2028. Mittal is the Vice-Chairman of Bharti Enterprises, one of India's leading conglomerates with diversified interests in Telecom, Space Communications, Digital Solutions, Financial Services, Real Estate, Agri-Processed foods in addition to other ...

ITC increases stake in food brand Sproutlife to 39.42% for Rs 175 cr

Earlier in January this year, ITC had said that it would acquire 100% of Sproutlife Foods Private Limited, makers of Yoga Bar healthy foods

Dabur reports 0.5% fall in net profit, declares dividend of Rs 2.7 apiece

During the quarter, the revenue from operations, however, rose 6.3 per cent to Rs Rs 2,677.33 crore

Nestle plans 10th factory, investing to augment capacity of existing units

FMCG major Nestle India is planning to open a new factory to meet the growing demand here and is scouting for the ideal location, its Chairman & Managing Director Suresh Narayanan said. This would be the tenth factory for Nestle India, which last year announced to invest Rs 5,000 crore in the country by 2025 to accelerate its core business and leverage new growth opportunities. When asked bout the possibility of a new factory in India, Narayanan told PTI: "Certainly. There is scouting for a site for the tenth factory". "We will make up our minds sooner than later. There is some preliminary work that has been done. And then we will come with an announcement," he added. Nestle is looking at numerous places, however, Narayanan said it will be eastern India where it is not having any production units. "One of the areas that we do not have a representation of a factory is in the east. So, clearly, if you are able to get a good geography and locational fit, we would like to look at the

FMCG major Nestle India expects double-digit volume growth this year

FMCG major Nestle India on Friday said there could be a downward revision in prices as the inflationary pressures have started coming down, and expects a double-digit volume growth this year. Nestle India is expanding its retail network in the rural areas and expects more than 20 per cent of the sales to come from those areas. Besides, it is expanding in the pharmacy space with 'Nestle Health Science' products. "Unless there is an adversity because of the El Nino effect, which is being talked about on the monsoons, I would expect the demand position will be fairly stable for us going forward and we should be able to continue on the path of double-digit growth," Nestle India Chairman & Managing Director Suresh Narayanan told PTI. The company has reported volume growth in the last 20 out of the 25 quarters. "I think inflationary pressures are starting to come down. So I do hope that the pricing pressures would also start to come down," he said. "We are now seeing volume growth come

'We will be EPS-accretive soon', says GCPL MD & CEO Sudhir Sitapati

'This acquisition allows us to complement our business portfolio and growth strategy with the under-penetrated categories'

Rural slowdown bottoming out, gradual recovery in volume expected: HUL

The rural slowdown is "bottoming out" and a gradual recovery in volume is expected, helped by government initiatives to drive the economy there along with moderation of inflation, FMCG firm HUL's CFO Ritesh Tiwari said on Thursday. Though the rural growth was still down 3 per cent in the quarter ended March 31, 2023, it is on the right path of recovery with overall commodities price moderation, Tiwari said in an earnings call. "Everything is going in the right direction," he said, adding, with a good level of government expenditure to drive the rural economy, moderation of inflation and 6 to 6.4 per cent growth of country's GDP. While talking about the overall FMCG (fast moving consumer goods) market, Tiwari said, "the latest three-month market numbers are 11 per cent growth but volumes are flat. This is a better sign for the industry." Even if the volume is flat, he said, it is better "compared to what we had last year, about 4 per cent negative volumes in the previous quarter. So

Volume driven strategy could sustain growth for Nestle, say analysts

Valuations however leave little room for gains on the upside

Higher raw material costs to hit alcohol firms in fourth quarter

Premium segment expected to do better than overall sales

Coca-Cola beats revenue estimates on steady demand despite price hikes

Average selling prices rose 11% in the first quarter, the company said, while unit case volumes rose 3%

WayCool hives off soil-to-sale vertical into new FMCG entity BrandsNext

Names B P Ravindran as CEO of the new firm, which has been created to put the "power of soil-to-sale food products into the hands of consumers across South India", says company

Nestle India declares interim dividend of Rs 27/share, fixes record date

The FMCG giant has fixed 21 April as the record date for determining the eligibility of shareholders for interim dividend payment