In the fourth quarter, JFL recorded Rs 15,728 million in revenue, an increase of 23.9% from the corresponding period in the last fiscal. Gross Profit was Rs 12,055 million, higher by 26.4%. Profit After Tax came in at Rs 2,089 million and PAT margin was 13.3%.

 JFL’s Revenue from Operations from its India business came at Rs 13,313 million, a growth of 6.3% mainly driven by 4.9% growth in Domino’s India. Domino’s LFL came in at 0.1% while Domino’s Delivery LFL was 7.8%. The new brands contributed 1.4% to overall growth. A total of 89 stores were added across all brands in India.

On the International front, JFL Revenue from Operations stood at Rs 2,427 million. This was primarily driven by revenue contribution of two months at Rs 2,174 million from Turkey, Azerbaijan and Georgia. Revenue from Domino’s Bangladesh came in at Rs 134 million, up by 52.1% on the back of accelerated network expansion. Revenue from Domino’s Sri Lanka came in at Rs 119 million, up by 4.1%. A total of 23 stores were added across all International markets.

Shyam S. Bhartia, Chairman and Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks Limited, said, “FY’24 was a year of significant shift as the acquisition of DP Eurasia elevates the profitable growth trajectory of the JFL Group. This acquisition further solidifies JFL’s longstanding partnership with Domino’s, the world’s largest pizza company, to profitably grow high potential emerging markets. The Group also made noteworthy progress during the year in supporting and nurturing new growth vectors, solidifying its position as one of the leading emerging markets’ foodservice company.”

Sameer Khetarpal, CEO and MD, Jubilant FoodWorks Limited, said, “The March quarter performance was remarkable as Domino’s India’s like-for-like trajectory turned around in Q4. This was achieved through several pre-planned strategic interventions, including strengthened regional infrastructure, enhanced on-ground execution, a comprehensive revamp of the brand, and further refining the value proposition through targeted delivery fee waivers during a period of weak demand. Moreover, the year witnessed substantial progress across every strategic priority, with increased business re- investments that weigh on near-term margins but will be a pivotal catalyst to drive our future growth across all brands and markets.”

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Consolidated revenue from operations stood at Rs 3,562 crore. It was Rs 2,056 crore in the year-ago period, it added. Total expenses were at Rs 3,636 crore. The company posted its total expenses at Rs 2,431 crore in the corresponding period a year ago, it said.

For the fiscal ended on March 31, 2024, the consolidated net profit was Rs 351 crore. The company had posted a consolidated net loss of Rs 971 crore in the previous fiscal ended on March 31, 2023, the filing said.

In FY24, consolidated revenue from operations stood at Rs 12,114 crore. It was at Rs 7,079 crore.

The results for the year ended March 31, 2024, are not comparable with the year ended March 31, 2023, due to the acquisition of Blink Commerce Pvt Ltd (formerly known as Grofers India Pvt Ltd) in June 2022, the filing said.

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During the fourth quarter, consolidated total income reached Rs 567.47 crore, a slight increase from Rs 561.96 crore in 2022. However, total expenses surged to Rs 565.51 crore from Rs 534.23 crore in the corresponding period a year ago.

For the fiscal year 2024, the consolidated total income amounted to Rs 2,410.28 crore, rising from Rs 2,298.52 crore in the previous fiscal. Nevertheless, the consolidated profit after tax for the fiscal year ending March 31, 2024, decreased to Rs 69.21 crore compared to Rs 111.58 crore in the previous fiscal.

In addition to financial challenges, Westlife Foodworld faced scrutiny in November 2023 when the Maharashtra state suspended the license of a McDonald’s outlet in eastern Mumbai. This action was prompted by allegations of using cheese alternatives and misleading consumers. Recently, the brand has collaborated with Chef Sanjeev Kapoor for a new campaign aimed at rebuilding customer trust in the quality of McDonald’s products.

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The strong performance can be attributed to Dabur India’s strong execution of brand strategy, increased premiumization efforts, and expansion of distribution footprint, coupled with the benefits derived from stringent cost reduction measures implemented throughout the fourth quarter and the entire fiscal year of 2023-24. 

The company’s operating profit exhibited an improvement of 13.9% during the quarter, with quarterly net profit surging by 16.2% to Rs 350 crore, compared to Rs 301 crore recorded a year ago. Q4 Consolidated Net Profit, on a like-to-like basis, witnessed a substantial upsurge of 22.7% to Rs 370 crore.

During the quarter, consolidated revenue experienced a robust 7.3% growth on a constant currency basis, reaching Rs 2,815 crore, representing a 5.1% increase on an INR basis compared to Rs 2,678 crore reported a year earlier.

Mohit Malhotra, CEO, Dabur India Limited, expressed satisfaction with the company’s performance, emphasizing the efficacy of Dabur’s brands.  He says, ‘‘We have been investing heavily in our brands, which have increased by 33%, to drive demand and also sustain the growth momentum. This has helped us deliver steady sales and profit growth in the fourth quarter despite multiple headwinds. We continued to execute our strategic playbook by driving operational excellence, delivering innovative and premium products, and expanding our retail footprint to build the foundation for long-term profitable, sustainable growth.”

Premium products account for 18% of Dabur’s portfolio, contributing to the overall growth trajectory. The FMCG business witnessed a volume growth of 5.5% for the full year, with key brands posting category-leading growth and gaining market share across 95% of the portfolio. Notably, Odomos, Chyawanprash, Hair Oil, and Honitus reported significant market share gains, reflecting the strength of Dabur’s brands.

Dabur’s investment in expanding its rural footprint has yielded substantial dividends, with rural demand outpacing urban demand. The company’s rural distribution network, which expanded by 22,000 villages to 122,000 villages during the fiscal year 23-24, has played a pivotal role in driving rural growth, resulting in a 400 bps increase compared to urban growth.

In terms of category growth, Dabur’s Oral Care penetration stands at  52%, with the toothpaste business reporting a notable 23% jump. The Digestives, Home Care, Shampoo, and Foods segments also demonstrated strong growth during the quarter.

Dabur also delivered a solid performance in the overseas markets, with the International Business reporting a Constant Currency growth of 12% in the fourth quarter and 16.4% for the full year 2023-24. During the quarter, the Egypt business grew by 63%, while Turkey business was up 39% and the Middle East & North Africa (MENA) markets posted a growth of 6.3%. The Sub-Saharan Africa business rose 23.8%.

The Board of Directors has recommended a Final Dividend of 275%, totaling 550% for the fiscal year 2023-24, in line with the company’s payout policy. This reflects Dabur’s commitment to delivering value to its shareholders while maintaining a strong financial performance.

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In his statement, Suresh Narayanan, Chairman and Managing Director, Nestle India, said, “I am pleased to share that we have delivered double-digit growth, despite challenges posed by rising food inflation and volatile commodity prices. We have witnessed a strong growth momentum across our product portfolio led by a combination of pricing and mix.”

Nestle reported an increase in its Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) of 21.8% to Rs. 1,337.7 crore from Rs. 1,098,7 crore. It also indicated that the EBITDA margin improved by 270 basis points (bps) to 25.4% from 22.7%, YoY.

In its statement, the company has highlighted some concerns too that it will have to deal with. “Commodity prices are seeing unprecedented headwinds in Coffee and Cocoa with all time high prices and an ongoing price rally. Cereals and grains are going through a structural cost increase backed by MSP. Milk prices are expected to rise on account of expected harsh summer.”

The Q4 results have been declared in the backdrop of a major controversy that the company finds itself in regarding the levels of sugar content in baby food. The row started after a global report published by Swiss NGO Public Eye was released that claimed Nestle’s product had high sugar content. Indian food safety regulator FSSAI has launched a drive to collect samples of Nestle’s Cerelac baby cereals from across the country.

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Despite these figures falling slightly short of analysts’ expectations, the company maintained a steady dividend payout strategy. Hindustan Unilever declared a final dividend of Rs 24 per share for FY24, adding to the interim dividend of Rs. 18 per share paid on November 16, 2023. Consequently, the total dividend for FY24 stands at Rs 42 per equity share of face value of Rs. 1 each.

The company’s homecare segment, its biggest one, which houses brands like Surf Excel and Comfort, posted mid-single-digit percentage volume growth led by outperformance in Vim liquid.

Rohit Jawa, CEO and Managing Director, expressed optimism about the company’s performance, highlighting a resilient 3% USG and surpassing the Rs 10,000 crore Net Profit milestone in FY24. He emphasized the strategic focus on operational excellence, gross margin improvement, and increased investment in brands and long-term capabilities.

Jawa outlined the company’s forward-looking approach, anticipating a gradual improvement in consumer demand driven by favorable factors such as a normal monsoon and positive macro-economic indicators. He underscored confidence in the medium to long-term potential of the Indian FMCG sector, citing rising affluence, under-indexed FMCG consumption, and robust digital infrastructure as key drivers.

In alignment with their strategic vision, Hindustan Unilever is committed to a transformative journey labeled ‘Transform to Outperform.’ This initiative is characterized by core objectives including enhancing brand superiority, market expansion, premiumization, portfolio optimization, and leadership in future channels.

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Reliance Retail’s financial report for the fourth quarter concluding on March 31, 2024, indicates a notable 11.7 percent increase in net profits, totaling Rs. 2,698 crore in contrast to the previous year’s figure of Rs. 2,415 crore for the same period. However, it’s noteworthy that this profit represents a decline compared to the preceding quarter, wherein the company boasted a profit of Rs. 3,165 crore.

The revenue from operations experienced a notable uptick, marking a 9.8 percent increase to Rs. 67,610 crore from Rs. 61,559 crore in the corresponding period last year. The company achieved a significant milestone in fiscal year 2024, with a robust gross revenue of Rs. 3 trillion, showcasing a remarkable growth rate of 17.8 percent compared to the previous fiscal year. This expansion was fueled by the strategic expansion of the business’s footprint, encompassing a diverse array of consumption categories. Notably, the company added 1,840 new stores, augmenting its gross area by 15.6 million square feet. Consequently, the total store count now stands at an impressive 18,836, spanning a combined area of 79.1 million square feet.

The registered customer base was at 304 million at the end of the year, up 22.2 per cent year on year, while the total transactions recorded were at 1.26 billion, up 22 per cent y-o-y.

Isha Ambani, Executive Director, Reliance Retail Ventures, said ‘Reliance Retail continues to deliver steady performance, led by growth across consumption baskets. We continue to invest and innovate across formats and products to improve our customer value proposition and serve evolving consumer needs. Robust expansion and growth of our retail business signifies our commitment to customer centricity and confidence in India’s consumption story’.

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