Enquiries indicate it belongs to an industrialist with links to a prominent cricketer.
The court had earlier allowed Burman twice to go abroad, including a trip to London to attend his ailing brother there.
The company has scaled down the size of the stores to 700-1,200 sq ft from its originally planned size of 1,500-6,000 sq ft, besides removing its pharmacy section. Dabur India had decided to hold the expansion plan of its retail arm as it aimed to capitalised more from further slide in retail rentals that the company is expecting.
According to an investment banker, apart from other international suitors, the Indian companies such as Godrej and Marico too have been approached for picking up the stakes in the home and personal care products company.
The fast-moving consumer goods (FMCG) sector has underperformed the Nifty over the past year as its 20 per cent return is trumped by 29 per cent of the benchmark index. The FMCG index saw a 2.2 per cent drop in the last session, while the Nifty lost 1 per cent. FMCG is seen as a defensive segment. The demand for staples like personal care products, groceries and snacks tend to be stable. FMCG companies are consistent dividend-payers.
Consumer goods firms and auto companies are witnessing an upturn in rural demand, which had been lagging for most of FY24. Expectations of a bumper rabi crop harvest have helped turn the tide. The Reserve Bank of India's (RBI's) Monetary Policy Committee kept the repo rate unchanged last week, noting that as rural demand catches up, consumption is expected to support economic growth in 2024-25.
The slowdown in private consumption in the economy is taking a toll on the growth of fast-moving consumer goods (FMCG). The net sales growth of listed FMCG companies hit a 14-quarter low of 2.5 per cent in October-December 2023 (Q3FY24). This is the lowest revenue growth for the industry since the June 2020 quarter, when the FMCG firms in the Business Standard sample had reported a 13.2 per cent Y-o-Y decline in combined net sales owing to the lockdown.
Irregular rainfall and a pick-up in commodity costs are expected to weigh on the demand and margins of fast-moving consumer goods (FMCG) companies. Most companies reported a sharp expansion in gross margins in the April-June quarter (first quarter, or Q1) of 2023-24 (FY24), given the lower prices of key raw materials and earlier price hikes. Furthermore, there were expectations that cost savings being passed on could reflect in volume growth going forward. However, these hopes could be dashed if demand recovery, especially in the rural segment, stalls, and gains on the raw material front start to recede.
According to the IT department's complaint, Burman was holding foreign bank accounts but he had not disclosed about it in his income tax returns and there were undisclosed deposits in those two accounts.
Consumer goods firm, Dabur India Ltd is expanding reach of its 'NewU' retail chain through an online portal to cater to a larger consumer base apart from opening more stores across the country.
Sales of fast-moving consumer goods (FMCG) witnessed significant recovery in September after enduring a double-digit decline in August, according to data furnished by Bizom. Kirana stores in rural areas stocked up in preparation for the festival season, which began in September. This, combined with rainfall reaching 113 per cent of the long-perid average for the month, contributed to a boost in sales.
Saris and ethnic stuff are her forte.
Eveready Industries India will launch a new category in Financial Year 2024-25 (FY25) as it works to double revenue, said a senior executive of the country's largest dry cell battery maker. It could be an adjacency or a new product under the Eveready brand and a final decision is expected by the end of this financial year. "We are currently working on that exercise; it's on the drawing board," said Suvamoy Saha, managing director of Eveready.
It may be a little early to cheer the recovery in the fast-moving consumer goods (FMCG) space as a deceleration in discretionary demand, after the festival season, may offset fragile rural recovery, analysts have cautioned. "The overall demand environment for staples remains muted, while discretionary demand trends have seen some deceleration after the festival season. "We believe margins in staples have bottomed out, but we expect only a gradual uptick with the ongoing softening in raw material prices.
Impressed with his captaincy at the ODI World Cup, former captain Sourav Ganguly on Friday threw his weight behind Rohit Sharma, saying he should lead India at least till the T20 World Cup in June next year.
Renewed inflationary pressures, led by a spike in prices of vegetables and cereals, have cast a spell on the equity markets in the past month. The BSE Sensex and Nifty50 have declined up to 2 per cent each during the period, clipping the 13 per cent rally from the March lows, shows data from ACE Equity. Investors typically consider shares of fast-moving consumer goods (FMCG) companies as defensive bets, putting their weight behind them in a falling market.
Colgate-Palmolive India is placing greater emphasis on freshness, whitening, therapeutic, and family toothpastes, as rivals such as Dabur and Patanjali dominate the growing naturals segment of the market. Once under 5 per cent of the Rs 10,000-crore domestic toothpaste market, the naturals segment, which includes ayurvedic and herbal variants, is now 25-30 per cent of the market, industry executives said. Growth rates of the naturals segment are estimated to be in the region of 8-9 per cent in volume terms. In value terms, the growth rate for naturals is around 10-12 per cent, sector experts said.
Stocks of alcoholic beverage makers have corrected over the last few trading sessions on worries that taxes, competition and costs will hurt sales and profitability. The recent trigger for the decline is Karnataka, which accounts for 15 per cent of overall liquor consumption, increasing duties. The state increased by 20 per cent the additional excise duty on Indian-made foreign liquor (IMFL) on all slabs.
Parle Agro, which sells beverages such as Frooti in small tetra packs, has already started importing paper straws. Dabur India, which sells its fruit juices in tetra packs under the brand Real, is also considering importing paper straws.
Over the past year, the National Stock Exchange Nifty FMCG Index, which tracks the market capitalisation of the top 15 companies in the fast-moving consumer goods (FMCG) sector, has surged by 17.3 per cent. In contrast, the Nifty50, a broader market index, has witnessed an 8.8 per cent increase during the same period. The FMCG stocks have also been rally leaders in the current calendar year.
Gather your friends at home and cook up yum pasta as you celebrate Friendship Day.
'We aim at establishing India as an early talent hub on a global scale and are actively recruiting professionals in areas like cybersecurity, machine learning, data science, and other relevant fields.'
However, the government's draft policy on e-commerce companies has forced consumer companies to also adapt to the changes. For Dabur India, e-commerce channel continues to be a key driver of growth in urban India. The contribution of online sales to its entire portfolio is at six per cent compared to 1.5 per cent before the pandemic.
The FMCG sector is generally considered to be a safe haven during difficult times as people never stop buying soap and toothpaste. However, weak rural and semi-urban demand has been a factor since the lockdowns of 2020-21 while rising inflation has also impacted margins. While the FMCG majors have survived on the basis of price hikes and good management practices, they have seen growth slowdowns and experienced margins being squeezed as raw materials and transport costs rose. The FMCG sector witnessed positive volume growth in the fourth quarter of the 2022-23 financial year (Q4FY23) after five consecutive quarters of decline, and the rebound in demand was led by urban markets.
These stocks offer the best combination of maximum 'buy' recommendations from brokerages and share price upside over the next 12 months.
Expect fast-moving consumer goods makers (FMCG) to raise prices again next month owing to raw materials, transport, labour and packaging material costs remaining high or becoming even costlier. Whether it is packaged wheat flour and basmati rice or biscuits and shampoos, these products will become 2-10 per cent more expensive. Adani Wilmar will hike the price of its packaged wheat flour by 5-8 per cent and of its basmati rice by 8-10 per cent next month.
This comes hours after Madhya Pradesh Home Minister Narottam Mishra issued a "24-hour ultimatum" and threatened to send the police after him.
Besides, the ongoing war between Russia and Ukraine has also added another blow to FMCG makers as they expect a rise in the prices of wheat, edible oil and crude. Companies such as Dabur and Parle are watching the situation and will undertake calibrated price increases to mitigate the inflationary pressures.
The pandemic has resulted in a change in consumer lifestyles, with an increased focus on preventive healthcare remedies leading to a surge in demand for immunity-positioned supplements, including Ayurvedic medicines and products, as consumers pursue different ways to combat the virus.
Higher prices are burdening household budgets and threatening the margins of leading manufacturers.
After a turnaround in performance by Indian equity markets since July that has seen the S&P BSE Sensex and the Nifty50 wipe out the year-to-date losses, analysts suggest investors start nibbling into stocks that are focused on the domestic economy. While they say intermittent corrections, led by policies of global central banks and other economic data, cannot be ruled out, analysts expect India's relative outperformance among global equity markets to continue as it looks better placed with a healthy economic recovery, and remains one of the fastest growing major economies. In this backdrop, Neeraj Chadawar, head of quantitative equity strategy at Axis Securities, believes that amid global slowdown, aggressive tightening by the central banks, and preference for domestic interests first (by the local government), export-oriented themes are likely to be muted or will deliver conservative returns in the near-term.
Blackstone, KKR, and Bain Capital, among others, are in the race for its general insurance arm, and Bandhan Bank, Bain, and Dabur Investments have shown interest for RCap's 51 per cent stake in the life insurance business.
60-65 per cent of the FMCG industry's overall sales come from urban areas; 35-40 per cent from rural areas.
The country's largest retailer Reliance Industries on Monday announced that it will enter the fast-moving consumer goods (FMCG) business this year as part of its expansion plan. Addressing the 45th AGM of Reliance Industries on Monday, Reliance Retail Ventures Ltd (RRVL) Director Isha Ambani said: "This year, we will launch our FMCG goods business". The objective of this business will be to develop and deliver products and solve every Indian's daily needs, with high-quality products at affordable pricing, she said while addressing Reliance Industries' annual general meeting.
While both Dabur and HUL have been aggressive in the 'naturals' market with new launches across its portfolio, unchecked distribution expansion and inconsistent quality of products have also been at the heart of Patanjali's problems.
In spite of a severe second wave of the coronavirus pandemic, and a widespread disruption in public life therefore, India's fast-moving consumer goods (FMGC) sector seems to have emerged as one of the most resilient segments of the economy. The early numbers and estimates for the April-June quarter indicate a steady recovery in FMCG players' business, which is now set to exceed the pre-pandemic level. Amid nationwide lockdowns because of the first Covid wave, FMCG revenues had been severely affected in mid-2020.
"Some vidharmis are constantly hurting Hindu sentiments. The video 'Madhuban me Radhika nache' is one such condemnable attempt. I am warning Sunny Leone ji, Shaarib and Toshi ji to understand. If they don't remove the song after apologising in three days, then we will take action against them," Mishra told reporters when asked about the song.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Some analysts see more upside in FMCG stocks given the performance gap between the sector and the market.
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