EMAMILTD

Feb 5 (Reuters) - Emami Ltd EMAM.NS:

• GETS TAX DEMAND ORDER OF 10.2 MILLION RUPEES

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** Shares of consumer goods co Emami EMAM.NS rise as much as 5.1% to 562.15 rupees

** EMAM on Monday reported 8% Y/Y rise in Q3 consol net profit while rev from ops grew 5.3% Y/Y

** Co also declared 2nd interim dividend of 4 rupees/share

** Stock is seeing its most active trading session since Aug. 1, with more than 2.3 mln shares changing hands, 4.6x its 30-day avg

** Avg rating of 25 analysts equivalent of "buy", median PT is 798 rupees - data compiled by LSEG

** Stock rose 6.6% in 2024

(Reporting by Ashish Chandra in Bengaluru)

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Jan 27 (Reuters) - Emami Ltd EMAM.NS:

• DEC-QUARTER CONSOL NET PROFIT 2.79 BILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 10.49 BILLION RUPEES

• DIVIDEND OF 4 RUPEES PER SHARE

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By Praveen Paramasivam, Shivangi Acharya

CHENNAI/NEW DELHI, Nov 13 - India's city dwellers are cutting spending on everything from cookies to fast food as persistently high inflation squeezes middle class budgets, threatening the country's brisk economic growth.

Slowing urban spending over the past three to four months has not only hurt the earnings of largest consumer goods firms, it has raised questions about the structural nature of India's long-term economic success.

Since the end of the pandemic, India's economic growth has been driven in large part by urban consumption, however, that now seems to be changing.

"There is a top end – the people with money are spending like that is going out of style," Nestle India Chairman Suresh Narayanan said.

"There used to be a middle segment, which used to be the segment that most of us fast moving consumer goods (FMCG) firms used to operate in, which is the middle class of the country, that seems to be shrinking."

Nestle India, which makes Kit Kats and other well-known goods, reported its first quarterly revenue drop since the COVID-hit June quarter in 2020.

While there is no officially defined income bracket for Indian middle class households, they are broadly estimated to account for a third of India's 1.4 billion people.

They are considered a key demographic both economically and politically, with middle class frustration seen as a significant factor behind Prime Minister Narendra Modi's weaker election performance this year.

Asia's third-largest economy is expected to expand 7.2% in the financial year ending March 2025, the fastest among its major peers.

Belying those rosy projections, however, are signs of a sharp slowdown in the household sector.

Indian urban consumption hit a two-year low this month, according to an index published by Citibank that captures indicators such as airline bookings, fuel sales and wages.

"While some of the fall could be temporary, the key macro drivers remain unfavourable," Citi's chief India economist Samiran Chakraborty said.

Growth in inflation-adjusted wage costs for listed Indian firms - a proxy for earnings of urban Indians - has remained below 2% for all the three quarters of 2024, well below the 10-year average of 4.4%, data from Citi showed.

Chakraborty cites this as a key factor impacting urban consumption, along with declining savings and tighter rules for personal loans.

Headline inflation has averaged 5% over the past 12 months, but food inflation has held above 8% as weather shocks elevated prices of vegetables, cereals and other essential foods. In October, retail inflation hit a 14-month high of 6.2% while food prices jumped to 10.9%.

Anecdotal data suggests retail sales rose close to 15% year-on-year during the 2024 festive season, which runs from August to November, Nomura said in a note last week, about half last year's pace.

"During this festival season, we have not spent at all," said Rajwanti Dahiya, 60, who survives on her husband's monthly pension of 30,000 Indian rupees ($356.76).

"Savings are low, barely there."

A 'SHRINKING' MIDDLE

India's central bank expects 7.2% GDP growth for the fiscal year ending March 2025 on the back of improved rural demand and a strong services sector.

Higher government investment could also support demand, said Rahul Bajoria, head of India and ASEAN economic research at Bank of America.

"If government spending kicks in, that probably does have some multiplier effects on private consumption spending as well," said Bajoria, who expects GDP growth at 6.8% in the current financial year.

Some are less optimistic with Citi and IDFC First Bank economists expecting GDP growth in the July-September quarter to miss the central bank's projected 7%, weighed by slower urban consumption.

That pessimism has hit consumer stocks with the Nifty FMCG index .NIFTYFMCG declining 13% since Oct. 1, compared with a 7.4% drop in the benchmark Nifty 50 .NSEI.

Of the FMCG index's 15 constituent firms, only one reported a pickup in sales volume growth in the September quarter.

Consumers in large cities are swapping branded items from hair oil to tea for cheaper unbranded alternatives, reflected in the first sales volume decline in 11 quarters for the foods and refreshment group at Hindustan Unilever.

"We see the growth in big city standing down, although in smaller cities and in rural the growth continues to be good," Hindustan Unilever chief executive Rohit Jawa said last month, after reporting lower than expected earnings.

Consumers are also cutting back on dining out.

Fast-food chains such as McDonald's, Burger King, Pizza Hut and KFC posted same-store sales declines, earnings showed.

While people are still coming, they are choosing cheaper meals, Rajeev Varman, CEO at Burger King operator Restaurant Brands Asia RESR.NS said after posting a 3% drop in quarterly same-store sales.

"We prefer budget-friendly stores that give good deals and discounts to manage our monthly expenditure," said 37-year old Avinash Crasto, a Mumbai marketing and sales executive who has a family of four and identifies as middle class.

($1 = 84.0640 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai and Shivangi Acharya in New Delhi; Editing by Sam Holmes)

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Nov 7 (Reuters) - Emami Ltd EMAM.NS:

• SEPT-QUARTER CONSOL NET PROFIT 2.13 BILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 8.91 BILLION RUPEES

• DIVIDEND OF 4 RUPEES PER SHARE

Source text: ID:nBSEHlfBk

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Aug 9 (Reuters) - Emami Ltd EMAM.NS:

• CO'S HOLDING IN CANNIS LUPUS SERVICES INDIA INCREASED FROM 30% TO 47.43%

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Aug 8 (Reuters) - Indian consumer products' sales slowed sharply to a more-than-one-year low from April to June due to softening demand for personal care products and packaged wheat flour, especially in urban areas, market researcher NielsenIQ said on Thursday.

The overall sales volume growth slowed to 3.8% in the second quarter, compared with growth rates of 6.4% to 8.6% in the past four quarters, "largely due to macroeconomic headwinds," NielsenIQ said, without detailing the factors.

India's retail inflation hovered around 5% in the quarter, mostly due to high food prices, forcing consumers in the world's most populous country to cut back wherever possible to make ends meet.

The sales volume growth in rural areas slowed to 5.2%, from 7.6% in the previous quarter, but fared better than urban markets, where growth slowed even more sharply to 2.8% from 5.7%.

The growth in rural pockets outpaced urban areas for the first time in five quarters in the January-March period as consumer majors including Dove-soapmaker Hindustan Unilever HLL.NS trimmed prices to win back consumers.

In the coming quarters, packaged goods makers including rural-centric Dabur India DABU.NS and Emami EMAM.NS expect a further boost, helped by better monsoon and higher government spending, which usually translate to higher consumer spending.

"The timely arrival of monsoon, coupled with a rural-centric budget with a focus on rural infrastructure, agriculture and employment is a key positive for the sector," Dabur CEO Mohit Malhotra said on an earnings call earlier this month.

The likes of Maggi instant noodles-maker Nestle India NEST.NS and biscuits-manufacturer Britannia Industries BRIT.NS are also betting on rural recovery by making their products available at more stores.

For the June quarter, though, consumer goods makers have posted mixed results.

Urban-centric Nestle India reported its slowest growth in eight years as price increases drove consumers away, while more rural-focussed Hindustan Unilever reported higher earnings as price cuts boosted demand.

(Reporting by Praveen Paramasivam; Editing by Savio D'Souza)

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** Shares of consumer goods co Emami EMAM.NS up 3.6% to 749.3 rupees

** Brokerage Motilal Oswal ups PT on stock to 850 rupees from 600 rupees earlier, keeps "Buy" rating

** Motilal's PT is the highest among 25 brokerages covering the stock, per LSEG data

** Co's initiatives to boost volume growth will likely accelerate in FY25, driven by rural growth improvement and seasonal tailwinds - Motilal

** Expects re-rating in valuation on the back of consistent growth in co's earnings

** Co looking to counter seasonal fluctuations by expanding portfolio through acquisitions and extensions, Motilal said, citing an interview with Vice Chairman Mohan Goenka

** Analysts' avg rating on stock is "Buy", median PT is 626.5 rupees

** Including session's gains, stock is up 33% YTD

(Reporting by Manvi Pant in Bengaluru)

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** Shares of Emami Ltd EMAM.NS rise as much as 18.2% to 619 rupees, their highest level since Aug. 2021

** EMAM expects double digit sales growth for FY25 led by pick-up in demand

** Stock set for its best day since Aug. 2020

** Demand recovery to help topline growth after two years of muted trends - Jefferies

** Jefferies upgrades EPS estimate for FY24-26 by 2%, raises PT to 630 rupees from 580 rupees earlier

** Avg rating of 25 analyst covering the stock is "buy" their median PT is 590.50 rupees up from 560 rupees, a month ago - LSEG data

** Stock sees second most active session ever, nearly 13 mln shares traded

(Reporting by Nishit Navin)

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** Shares of beauty and personal care products maker Emami EMAM.NS rise as much as 5.3% to 470 rupees

** Stock posts sharpest intraday pct gain since Dec. 29

** Over 1.8 mln shares traded in five blocks at 455.85 - 460 rupees/share -LSEG data

** Deals at 2.1%-3.1% premium to EMAM's Weds closing price

** Trading vol 4.1x the 30-day daily avg

** Analayst avg rating on EMAM is "buy", median PT is 560 rupees - LSEG data

** Stock down ~17% YTD

(Reporting by Ashish Chandra in Bengaluru)

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Feb 9 (Reuters) - Emami Ltd EMAM.NS:

• DIVIDEND 4 RUPEES PER SHARE

• EMAMI DEC-QUARTER CONSOL NET PROFIT 2.58 BILLION RUPEES VERSUS PROFIT 2.37 BILLION RUPEES

• EMAMI DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 9.96 BILLION RUPEES VERSUS 9.83 BILLION RUPEES

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** Shares of Emami EMAM.NS rise as much as 4.41% to 588.60 rupees, their highest since Sept 2021

** Stock last up ~2%, taking 3-session rally to about 15%

** Emkay Research says recent rally is due to attractive valuations and sees any drop is an entry opportunity

** Brokerage says the FMCG's guidance of mid- to high-single-digit FY24 rev growth is achievable, with recovery in rural demand to benefit EMAM

** Reiterates "buy" and PT of 625 rupees

** The mean rating of 26 analysts on EMAM is also the equivalent of "buy" and the median PT is 585 rupees - LSEG data

(Reporting by Bharath Rajeswaran in Bengaluru)

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Nov 6 (Reuters) - Emami Ltd EMAM.NS:

• APPROVED PAYMENT OF FIRST INTERIM DIVIDEND OF 4 RUPEES PER SHARE

• INDIA'S EMAMI SEPT-QUARTER CONSOL NET PROFIT 1.79 BILLION RUPEES VERSUS PROFIT 1.84 BILLION RUPEES

• EMAMI SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 8.65 BILLION RUPEES VERSUS 8.14 BILLION RUPEES

Source text for Eikon: ID:nBSEcbXNKk

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** Shares of India's Emami EMAM.NS rise 7.07% after co on Thursday acquired 26% stake in Axion Ayurveda

** Stake purchase conducted for an undisclosed amount; Emami also announces foray into juice category

** About 2.1 mln shares change hands by 1:11 p.m. IST, 3.9x 30-day avg

** Avg rating of 26 analysts close to equivalent of "buy;" median PT 540 rupees, a 5.3% upside to last close - LSEG data

** Stock last up 4.5%, taking YTD gains to 26.2%

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of Emami Ltd EMAM.NS rise as much as 3.4% to 535 rupees, biggest intraday pct gain since Sept. 11

** Emkay Global initiates coverage with "buy" rating and PT of 625 rupees, 21% higher than co's last close

** Emami well-fitted to uphold topline growth with inflationary pressure ebbing, with focus on rural recovery - Emkay

** EMAM's most core categories have limited competition and higher gross margin, analysts add

** Nearly 295,000 shares change hands by 11:50 a.m. IST vs 30-day avg of 549,550 shares

** Twenty-one of the 26 analysts covering the stock have a "buy" or "strong buy" rating, 4 have "hold" while 1 rate it at "sell" or "strong sell"; median PT is 520 rupees - LSEG data

** EMAM up nearly 23% YTD

(Reporting by Ashna Teresa Britto in Bengaluru)

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BENGALURU, Sept 20 (Reuters) - Indian hospital chain operator Manipal Hospitals said on Wednesday it has acquired an 84% stake in AMRI Hospitals in its bid to expand its presence in eastern India.

Kolkata-based AMRI Hospitals is owned by FMCG-to-realty conglomerate Emami Group and comprises of over 1,200 beds, over 800 doctors and 5,000-plus healthcare professionals.

"In an endeavour to focus on our core businesses, we have divested our majority stake in AMRI Hospitals," Aditya Agarwal and Manish Goenka, directors, Emami Group, said in a statement.

Emami will continue to hold a 15% stake in AMRI with the government of West Bengal holding a 1% stake in the firm.

Hospitals in India have been buying each other at near record rates, with M&As totalling $4 billion in 2022 and $2.2 billion in the first five months of this year, Reuters reported in June.

The private healthcare sector in India has seen a post-pandemic boom with global consultancy firm PwC projecting a 12-14% annual growth for India's private healthcare market, currently worth around $48 billion.

(Reporting by Kashish Tandon in Bengaluru; Editing by Shailesh Kuber)

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** Shares of Emami Ltd EMAM.NS rise as much as 3.9% to 545 rupees, highest since Aug. 23

** Citi upgrades stock to "buy" from neutral, hikes TP to 600 rupees from 455 rupees

** Co to benefit from investments behind long-term strategic initiatives, say Citi analysts

** They expect EMAM's growth trajectory to accelerate driven by multiple initiatives

** If trend stands, stock on track for fifth consecutive session of gains

** More than 1.1 mln shares change hands by 01:37 p.m. IST vs 1.3x 30-day avg of 877,523 shares

** Analysts covering the stock on average have a "buy" rating; median PT is 520 rupees - Refinitiv data

** Stock up 23.4% so far this year as of last close

(Reporting by Ashna Teresa Britto in Bengaluru)

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Aug 7 (Reuters) - Emami Ltd EMAM.NS:

• INDIA'S EMAMI JUNE-QUARTER CONSOL NET PROFIT 1.38 BILLION RUPEES VERSUS PROFIT 738.3 MILLION RUPEES

• EMAMI LTD JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 8.26 BILLION RUPEES VERSUS 7.73 BILLION RUPEES

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June 15 (Reuters) - Emami Ltd EMAM.NS:

• INVESTED 45 MILLION RUPEES BY SUBSCRIPTION TO COMPULSORY CONVERTIBLE PREFERENCE SHARES OF CANNIS LUPUS SERVICES INDIA

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May 25 (Reuters) - Emami Ltd EMAM.NS:

• MARCH-QUARTER CONSOL NET PROFIT 1.44 BILLION RUPEES VERSUS 3.56 BILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 8.36 BILLION RUPEES VERSUS 7.68 BILLION RUPEES

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