Jan 22: Mumbai based Jyothy Laboratories Ltd (BSE:532926, NSE:JYOTHYLAB) is witnessing gains amidst impressive quarterly results and foray into ayurvedic personal care products. In Monday morning trade, the scrip rose to a high of 378.95 as against previous close of 375.55.
In December quarter, the company has registered an annualised growth in net profit at Rs 34.73 cr while sales has risen 12.47% to Rs 432.21 cr. It is trading at a price earnings ratio (PE) of 32.47 and in technical charts RSI of 50 indicates neutral trend while ADX of 14.50 indicates range bound trading. After a recent bearish cross over, MACD line is moving up indicating further uptrend possibilities.
Jyothy Labs which is targeting Rs 2500 cr turnover by 2021 is adding ayurvedic and herbal products in its portfolio with Margo toilet soap and Neem tooth paste. It was acquired from Henkel and is one of the fastest growing brands.
Jyothy Laboratories was started in 1983 by Thrissur based entrepreneur M P Ramachandran with a singl product Ujala Supreme fabric whitener. It went on to launch insecticides, fabric stiffners and soap under Ujala, Maxo and Exo branding. It acquired Henkel India Ltd, the domestic arm of German FMCG Henkel AG. In 2011.
Fabric care constitutes 42.2% of the turnover, while household instecticides contribute 15.1%. In 2016-17, net revenues had risen to Rs 1747 cr from Rs 1658 cr the previous year while net profit rose to Rs 204.2 cr from Rs 73.8 cr,