TIC launched Sunniest Delights cookies, Yummiest Potato chips, Engage Deco’s, Vile cell renew skin care products and new variants under Vile and Foam Did Wills brands. Processed Foods maintained double-digit growth with key brands like ‘Survival’, Sunniest and Bingo sustaining strong momentum. TIC launched ‘Sunniest Delights’ gourmet cookies in two delectable variants biz. , ‘Nut Biscuits’ and ‘Nut and Raisins’, and ‘Candy Siliceous’ in the Jelly segment.
Bingo launched ‘Yummiest’ sub-brand for its potato chips keeping with its value proposition of fulfilling the consumer need of casual snacking’ with new packaging and 2 new flavors – ‘Pun Mitch’ and ‘Miasmal Salsa’ for the Gujarat market. In the Instant Noodles category, ‘Sunniest Yippee! ‘ continued to grow at a rapid pace on the back of new launch of ‘Chinese Miasmal’ variant Net sales have increased by 10. 5% to Errs. 1 ban. Gross margins have declined bops due to an increase in material cost. However, EBITDA margins were maintained due to reduction in employee cost and other expenditure and EBITDA increased 17. % to Errs. Ban. PAT increased by 18. % to Errs. Ban. Cigarette BIT has Increased 18% while FMC business has reported negative BIT, although loss has declined by 51%. Hotels and Paper Business continue to remain under pressure. Decline In other expenses by 2% has boosted margins; other expense decline was due to lesser event based promotions and operating leverage. Finance of Tic By vomit – ‘Flake Galaxy’, ‘Flake Liberty’ & ‘Silk Cut Virginia’ in this segment in various TIC has increased prices by another 2% in July mainly due to price increase in Gold
Flake Filter which should support profitability and enable 18% cigarette growth in IFFY even as full impact of VAT changes will be reflected in the coming quarters. Recent Judgment of the Supreme Court revoking the stay on surrogate advertising for tobacco products is unlikely to impact the industry negatively. We are increasing cigarette BIT growth estimates for IFFY from 15% to 18% due to 17% increase in Errs. Ban. PAT increased by 18. 1% to Errs. Ban. Cigarette BIT has increased 18% Hotels and Paper Business continue to remain under pressure. Decline in other
