Emami expects to bounce back in FY21 despite poor Q1
Homegrown FMCG firm Emami is confident of making a comeback post the Covid-19 disruptions and expects to deliver a strong performance for the financial year 2021, despite reporting poor numbers in the first quarter.
The company’s results witnessed a decline for the financial year 2020, due to the outbreak of the Covid-19 pandemic and resultant lockdowns in the last quarter of the year.
In FY20, Emami's revenue had marginally declined by 1 percent to Rs 2,655 crore ($362.3 million), mainly due to a 17 percent decline in the fourth quarter.
The first quarter of the current financial year also witnessed a decline of 26 percent with revenue plummeting to Rs 481 crore. As the first quarter was mainly marred by lockdowns, Emami is confident of sales revival in the coming quarters.
“Through the adoption of advanced technology and digital transformation across verticals, your company is becoming more future-ready. We are ramping up our innovation pipeline, deepening our distribution across both traditional and new-age trade channels and finding new and exciting ways to delight our consumers with differentiated quality and affordable products," company founder and whole-time director R S Goenka said at the company’s annual general meeting.
“Our revenues in these new-age channels grew by 16 percent in FY20 and increased their contribution to the domestic business from 7.5 percent to 9 percent," Goenka added.
Emami Limited is one of the leading personal and healthcare businesses in India, with a portfolio of over 300 products.
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