Will increase ad spends going forward, says Lux Industries
"Q3FY21 has been a record quarter for the company, reported very good results," said Udit Todi, President of Strategy at Lux Industries while discussing Q3FY21 fineprint and outlook for 2021.
"Q3FY21 has been a record quarter for the company, reported very good results," said Udit Todi, President of Strategy at Lux Industries while discussing Q3FY21 fineprint and outlook for 2021.
In terms of ad spends, he said, "We have definitely curled down our advertisement expenditure to half in the current fiscal year. Going forward, we believe ad expense would definitely increase but at the same time we are also entering newer categories and seeing new avenues of growth, so we believe that a better product mix will definitely offset whatever increase the ad expenditure will take place.”
The company has gained market share. "We have beaten the industry growth rate. Our growth rates have been higher than the industry and compared to peers as well," he said.
On exports, he mentioned, “Exports have been mostly flattish in the current quarter. At nine monthly level, it has slightly been on the decline but we believe that when we close the current fiscal we should be roughly on a flattish level because overall global trend has taken a hit. So we will be able to maintain the export contribution at the similar level as last year which is about 10 percent.”
Talking about merger, he said, “The process has been hastened up and we believe in the next two-three months the process should be over. Once the process gets over, we are trying that the current FY21 balancesheet comes out as a merged balancesheet. So the EPS should go up by about 20-25 percent.”
For more, watch the video.
(Edited by : Priyanka Rathi)
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