homeretail NewsDouble digit growth to sustain amid improved demand; price hike to support margins: Jyothy Laboratories
Double digit growth to sustain amid improved demand; price hike to support margins: Jyothy Laboratories
Jyothy Laboratories has gained market share across all categories and is seeing double-growth for the last six quarters. The company expects the growth to sustain amid an improved demand outlook across markets.
Jyothy Laboratories has gained market share across all categories and is seeing double-growth for the last six quarters. The company expects the growth to sustain amid an improved demand outlook across markets.
“We have been seeing double-growth for last six quarters and it is continuing. In the last quarter, categories like fabric care have seen a growth of 27 percent, dish wash segment has grown by 22 percent and personal care and household insecticides have grown by 15 percent," said K Ullas Kamath, joint managing director, Jyothy Laboratories.
Speaking to CNBC-TV18, he said that the company had a 22 percent market share in coil and a 9 percent market share in liquid.
"So, in many years, for the first time we are seeing all the segments growing at double-digit and as most of the festivals are coming in and we hope this trend to continue," Kamath said.
According to him, there is a strong recovery in demand as things are opening up across markets.
“The trend is positive and we are seeing growth every quarter. People know how to live with the COVID-19 now and most of the vaccination is done. So, to that extent there is no fear as such and demand is absolutely positive across urban and rural,” Kamath said.
On price increase, Kamath said, “Margin is under pressure as there is an unprecedented price hike in the raw materials. But in our product mix, the pressure on gross margin was about 3 percent and we have taken that hit in Q1FY22. We are managing it with a bit of price hike and some optimization internally.”
For the entire management interview, watch the video
First Published: Sept 3, 2021 3:52 PM IST
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