Jyothy Labs conducted their earnings con-call today at 3:00 PM

Here are the key highlights 😀👇

@drprashantmish6 @unseenvalue @proxy_investor @deepakshenoy

#concall

Sector Trend:
• Strong demand in Homecare and healthcare
• Institutional business has gradual comeback and now near to pre-covid level
• New launches: Exo All Surface Cleaner launched in South of India
• Media spent increased for more growth
• Market share has been improved
Business: Updates:
• A&P spend increased with growth in business segment.
• Segmental performance in image.
• Due to lower other expenses the EBIDA margins have seen growth insipte of increase in adv. cost.
Business segment:
• Mainwash segment has started doing better.
• Postwash segment is still constrain as school and office are closed. However there is gradual growth.
• Dishwash segment remain robust and company continuous to see good growth over diswash.
Sales Growth:
• Higher utlization has been helping in decreasing the cost.
• Sales force with higher utlization reduces per cost, hence increase in margin.
• Increase in price has very little part.
• Company has current guidance of same margins of around 14-15%.
Recovery of Detergent:
• All of the detergent are back on growth.
• Ujala and Mr White are doing good. Ujala post wash is coming back to pre-covid levels (90-95% of pre-covid levels)
• Crisp and Shine has been only in 2 states which is affect by covid, hence it may take time.
Household Insecticide.
• Coil segment company has 20% of market share and in liquid company has 8-10% of market share.
• Segment is still profitable.
• Company expects more 3-4 quarter to see a significant growth in the liquid coil segment.
• Coil segment company has 20% of market share and in liquid company has 8-10% of market share.
• Segment is still profitable.
• Company expects more 3-4 quarter to see a significant growth in the liquid coil segment.
• Product Delivery have been improved with compare to competitor.
• Other Expense as a % of sales will be same and there is no on-off.
• Tax Rate: Company is under MAT for this year and entire FY 2022, hence tax rate can be 18-20%.
• Personal care: Main growth driver is Margo
• Rural growth is higher than the urban.(1.3:1 growth rate rural:urban).
• Channel Inventory: Generally is 2-3 week
• Debt: Company stands at net cash. Gross debt is expected to be ~50-60cr.
• There may be little decline in A&P cost keeping EBIDTA margins expectation in line.
•Low presence in East: East is next biggest market hence there is good presence of the company.

• In e-commerce company don't go for Grofferes due to unfavourable T&C.

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दधीचि ऋषि को मनाही थी कि वह अश्विनी कुमारों को किसी भी अवस्था में ब्रह्मविद्या का उपदेश नहीं दें। ये आदेश देवराज इन्द्र का था।वह नहीं चाहते थे कि उनके सिंहासन को प्रत्यक्ष या परोक्ष रुप से कोई भी खतरा हो।मगर जब अश्विनी कुमारों ने सहृदय प्रार्थना की तो महर्षि सहर्ष मान गए।


और उन्होनें ब्रह्मविद्या का ज्ञान अश्विनि कुमारों को दे दिया। गुप्तचरों के माध्यम से जब खबर इन्द्रदेव तक पहुंची तो वे क्रोध में खड़ग ले कर गए और महर्षि दधीचि का सर धड़ से अलग कर दिया।मगर अश्विनी कुमार भी कहां चुप बैठने वाले थे।उन्होने तुरंत एक अश्व का सिर महर्षि के धड़ पे...


...प्रत्यारोपित कर उन्हें जीवित रख लिया।उस दिन के पश्चात महर्षि दधीचि अश्वशिरा भी कहलाए जाने लगे।अब आगे सुनिये की किस प्रकार महर्षि दधीचि का सर काटने वाले इन्द्र कैसे अपनी रक्षा हेतु उनके आगे गिड़गिड़ाए ।

एक बार देवराज इन्द्र अपनी सभा में बैठे थे, तो उन्हे खुद पर अभिमान हो आया।


वे सोचने लगे कि हम तीनों लोकों के स्वामी हैं। ब्राह्मण हमें यज्ञ में आहुति देते हैं और हमारी उपासना करते हैं। फिर हम सामान्य ब्राह्मण बृहस्पति से क्यों डरते हैं ?उनके आने पर क्यों खड़े हो जाते हैं?वे तो हमारी जीविका से पलते हैं। देवर्षि बृहस्पति देवताओं के गुरु थे।

अभिमान के कारण ऋषि बृहस्पति के पधारने पर न तो इन्द्र ही खड़े हुए और न ही अन्य देवों को खड़े होने दिया।देवगुरु बृहस्पति इन्द्र का ये कठोर दुर्व्यवहार देख कर चुप चाप वहां से लौट गए।कुछ देर पश्चात जब देवराज का मद उतरा तो उन्हे अपनी गलती का एहसास हुआ।