Bajaj Corp Eyes New Product Launches To Sustain Growth
Bajaj Corp Ltd. said it expects to reduce dependence on its lead brands—Bajaj Almond Drops hair oil and skincare cream Bajaj Nomarks— and launch new products to maintain its growth in the future.
“Dependence on one brand is something that will cause a slowdown in the future,” the company’s Managing Director Sumit Malhotra told BloombergQuint. “We have been launching new brands and will continue to bring in new brands in the next five to six quarters,” Malhotra said, adding that he expects two products to be launched in the next quarter.
Malhotra also said that he believes the company’s margins would improve in the next quarter as the crude oil prices have cooled down.
Bajaj Corp posted a net revenue jump of more than 10 percent in the quarter ended December, thanks to the volume growth of its lead hair care brand Bajaj Almond Drops hair oil.
“Bajaj Almond Drops...constitutes around 92 percent of our total sales (and) is amongst the fastest-growing brand in our portfolio,” Malhota said, adding that the company’s skincare product Bajaj Nomarks also performed well in the reported quarter.
Bajaj Corp Q3 Earnings FY19 (YoY):
- Revenue jumped 10.4 percent to Rs 229.6 crore, from Rs 208 crore
- Net profit rose 8.9 percent to Rs 60.1 crore, from Rs 55.2 crore
- Ebitda up 4.9 percent to Rs 71.1 crore, versus Rs 67.8 crore
- Margins came at 31 percent versus 32.6 percent
- Interim Dividend at Rs 14 per share