Jyothy Labs: Can the underperformance end after 3 quarters of double-digit growth?
Higher raw material cost likely to impact gross margins of Jyothy Labs in the near term
Jyothy Labs (JLL; CMP: Rs 162; Market Capitalisation: Rs 5,943 crore) has presence in fabric whiteners, wash, dishwashing, detergents, personal care and household insecticides. Its June 2021 quarter performance was in line with Street expectations. Pressure on gross margins due expectations. Pressure on gross margins due to higher commodity cost and investment behind brands is likely to impact profitability in the near term. June 2021 quarter performance Revenues grew by 21 per cent year on year (YoY) on the back of 17 per cent.
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