Patanjali Foods has been served a show cause notice by the GST intelligence department, asking the company to explain why input tax credit worth Rs 27.46 crore should not be recovered from it. The yoga guru Ramdev-led Patanjali Ayurved Group firm, which is mainly into the edible oil business, has received the notice from the Directorate General of GST Intelligence, Chandigarh Zonal Unit, according to a regulatory filing made by the company on April 26.
Industry officials say the crunch has not only affected manufacturing of edibles but even of items like nozzle pumps and other goods used in packaging.
India Inc continued to grapple with muted revenue growth in the September 2024 quarter (Q2FY25) and witnessed a decline in margins and profits. The headwinds were especially severe for non-financial companies, while banking, financial services, and insurance (BFSI) firms significantly outpaced the rest of the corporate sector. The total profit of 1,353 listed companies that have released their Q2FY25 results thus far dropped by 0.6 per cent year-on-year (Y-o-Y) - the first cumulative earnings decline in eight quarters.
'We plan to touch Rs 1 trillion of Amul brand's turnover in the next five years.'
These 10 stocks represent the best mix of value and growth, offering relatively low price-to-earnings and price-to-book ratios, a high return on equity, and sufficiently high potential from current levels.
To double its current turnover of Rs 13.53 billion in five years, the firm plans to generate 25 per cent of this consolidated revenue from FMCG sales.
The Tata group firm has enhanced its product portfolio through "targeted acquisitions" as it aspires to be a formidable player in the FMCG category, said Chandrasekaran, who is also the chairman of Tata Sons. Besides, it has stepped up the pace of innovation across markets in line with consumer trends such as health and wellness and convenience, he said in his message to shareholders in the latest annual report of TCPL.
Launched this April, the FCG business will end the year with a turnover of Rs 500 crore
The government is set to examine concerns over quick commerce companies potentially undermining businesses of local kirana stores, particularly in the context of the draft Digital Competition Bill, according to official sources. The Ministry of Consumer Affairs recently raised the issue with the Ministry of Corporate Affairs during discussions around the proposed legislation. "We need to assess if and how the Bill can address these concerns and explore further steps to include provisions to keep a check," a senior official stated.
Among the 30 Sensex companies, UltraTech Cement, Larsen & Toubro, Tata Motors, Nestle, Tata Steel, Hindustan Unilever, Bajaj Finance, Reliance Industries, Mahindra & Mahindra and State Bank of India were the biggest laggards. In contrast, Bharti Airtel, Infosys, JSW Steel, Tata Consultancy Services, Wipro and NTPC were among the biggest gainers.
Most of the labourers in manufacturing plant are migrant workers. With them moving back to native places, there is going to be a huge challenge.
From the Sensex pack, Larsen & Toubro, Bajaj Finserv, Mahindra & Mahindra, UltraTech Cement, State Bank of India, IndusInd Bank, Reliance Industries and Sun Pharma were among the biggest gainers. Bharti Airtel, Titan, ITC, Kotak Mahindra Bank, Tech Mahindra and HDFC Bank were among the laggards.
FMCG firms such as ITC, Parle Products, Marico, Emami, PepsiCo India and CG Corp Global on Wednesday assured uninterrupted supply of their products based on the learnings from the last year's lockdown, even as surge in COVID-19 cases in India forced Maharashtra to declare a 15-day curfew while other states also imposing various restrictions.
Equity benchmark indices Sensex and Nifty settled higher on Thursday, powered by a rally in banking and power stocks amid a largely firm trend in global markets. The stock markets mostly traded range-bound in the absence of any major trigger and persistent foreign capital outflows, traders said. The 30-share BSE Sensex rose 144.31 points, or 0.18 per cent, to settle at 81,611.41.
Stock market barometers Sensex and Nifty ended marginally higher on Monday as rise in wholesale inflation capped early gains despite a positive trend in global markets. The 30-share index settled 32.02 points or 0.05 per cent higher at 60,718.71 with half of its constituents ending in green. The broad based Nifty edged up 6.70 points or 0.04 per cent to close at 18,109.45.
CFO of Marico Industries Milind Sarwate believes that the FMCG sector has emerged out of the rut that it was in until a few years ago.
Although large companies like Nestle, Dabur or HUL have been impacted by this slowdown in demand, it was the small, local players that have been hit harder.
Beauty creams, hair oil, shampoos and other household items will cost more as FMCG firms plan to increase prices by up to 7 per cent due to the excise duty hike announced in the Budget.
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.
'Invest only in stocks of those companies that deliver on earnings and there is earnings visibility too for the next few quarters.'
From the Sensex basket, ITC, Kotak Mahindra Bank, Bharti Airtel, State Bank of India, Asian Paints, Tech Mahindra, Reliance Industries and Nestle were the major gainers. Maruti, HDFC Bank, Larsen & Toubro and Mahindra & Mahindra were among the laggards.
Despite a handsome performance by leading fast moving consumer goods (FMCG) companies in the June quarter, the road ahead appears full of hurdles.
Hindustan Unilever, GlaxoSmithkline Consumer Healthcare, Godrej Consumer Products, Dabur, Nestle and other FMCG companies are lining up initiatives to maximise returns from modern trade channels including hypermarkets and supermarkets.
Fast-moving consumer goods (FMCG) companies can rejoice as the Rs 27,369 crore rural market in the country registered a growth rate of 17 per cent in the first 10 months this year.
The current spurt in the stock market is on account of strong fundamentals and robust corporate earnings and retail investors can look for buying opportunities to accumulate quality stocks, experts said.
'The biggest near-term risk to Indian equities is the outflow of investments to China as tactical trades by foreign investors.'
The rise in excise duty will have a negative impact on FMCG companies, which FMCG companies will pass on to consumer.
The first to see price hikes will be soaps. In the past six months, domestic palm oil prices have increased by 46 per cent. Palm oil is a key input going into soaps.
The market capitalisation of BSE-listed companies hit a record high of Rs 429.32 lakh crore on Wednesday as the BSE benchmark Sensex ended higher amid a largely positive trend in global equities. The 30-share BSE Sensex climbed 149.98 points or 0.20 per cent to settle at 76,606.57. During the day, it jumped 593.94 points or 0.77 per cent to 77,050.53.
FMCG sector will benefit from measures taken to negate food inflation pressure on common man and also measures to boost disposable income.
Tech giant Microsoft regained the top spot in the list of best employers to work for in India in 2024, followed by Tata Consultancy Services (TCS) and Amazon, according to a Randstad Employer Brand Research report released on Wednesday. Microsoft had topped the list in 2022, but slipped to fifth in 2023. The 2024 list is based on responses from 3,507 people.
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High retail inflation is exerting pressure on households to cut expenses wherever possible.
'As the markets are expected to remain jittery in the near term, we advise investors to use this opportunity to enter quality largecaps from a long-term perspective.'
The FMCG market is gearing up for a boom time again with the onset of three-month festive period spanning Dussehra and Diwali, which had brought in an additional revenue of Rs 844 crore (Rs 8.44 billion) last year.
As rural demand tapers, companies are back at the drawing board, firming up plans to beat the unexpected slowdown in sales.
Among the Sensex firms, Hindustan Unilever, Reliance Industries, Infosys, Asian Paints, ITC and UltraTech Cement were the major gainers. State Bank of India, JSW Steel, Axis Bank, ICICI Bank, Tata Steel and Tata Motors were among the laggards.
Bajaj Finserv, Infosys, Mahindra & Mahindra, Tech Mahindra, Hindustan Unilever, State Bank of India and HCL Technologies were the biggest gainers. On the contrary, Asian Paints, JSW Steel, NTPC and Adani Ports were among the laggards.
Companies from Nestle and ITC to Hindustan Unilever and Patanjali have pledged to reduce use of unhealthy ingredients by five to 50 per cent
Talks on with P&G, HUL, Patanjali, among others to push their products via 250,000 common centres
