stock soared 5% after it reported strong set of numbers for the quarter significantly ahead of consensus estimates. Company reported strong revenue (net of excise duty) growth of 15.8% yoy to Rs516.8cr, 4% ahead of estimates.
Due to tax reversal of Rs65.6cr in the base quarter, company’s reported that PAT has declined by 29.3% yoy to Rs75.9cr
The comparable revenue growth for the quarter stood at 17.2% yoy aided by 11.4% yoy volume growth.
Dishwashing segment reported 18.3% yoy growth (comparable growth of 21.3% yoy) in revenue and 751bps yoy expansion in the EBIT margin.
The stock ended at Rs391.70 up by Rs18.5 or 4.96% from its previous closing of Rs373.20 on the BSE. The scrip opened at Rs373.25 and touched a high and low of Rs397.65 and Rs365.10 respectively.
JLL’s portfolio of six power brands – Ujala (fabric whitener), Exo (dish-bar), Maxo (household insecticides), Henko (detergent), Margo (soaps) and Pril (dish-wash) contributed 89% to revenue in Q3FY18. Ujala enjoys ~77% share in niche fabric-whitener segment. JLL has steadily increased market share of the other power brands and has enough room to grow considering larger category size and relatively lower share of JLL brands. Its volumes are expected to grow on account of passing of GST benefits in dishwashing and detergent categories.