Jyothy Labs Q3 Review - Beat On All Counts: ICICI Securities 
Jyothy Laboratories Ltd.’s range of products (Source: Company website)

Jyothy Labs Q3 Review - Beat On All Counts: ICICI Securities 

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Jyothy Laboratories Ltd.’s Q3 revenue grew 15%, higher than consensus expectations, driven by -

1. strong execution – penetrating into rural markets, increasing throughput,

2. recovery in modern trade and canteen stores department channels (almost flat sales YoY) and

3. significant investment behind brands (ad-spends up 40% YoY).

Seen through the category-state construct, the company is the market leader (or a strong number two) in most categories and that should benefit in times like these.

We like the continued strong performance – 10% volume growth in nine months FY21.

Click on the attachment to read the full report:

ICICI Securities Jyothy Labs Q3FY21 Results Update.pdf

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