MAM
Emami reports consolidated net sales at Rs 807 cr
Mumbai: In a recently organised board of directors meeting, Emami reported consolidated net sales of Rs 807 crore in Q2 FY23, which ended on 30 September 2022, which grew by four per cent and posted a three-year CAGR (compound annual growth rate) of eight per cent.
Due to continued inflation, rural slowdowns, and liquidity pressure, the domestic FMCG industry remained soft during the quarter, and demand sentiment remained muted.
Net sales increased by eight per cent during the quarter, excluding the pain management and healthcare ranges, which saw corrections due to lower consumption of covid contextual products and the new subsidiary, Helios Lifestyle.
Modern trade and e-commerce both performed exceptionally well, increasing by 28 per cent and 55 per cent , respectively. The contribution of modern trade and e-commerce channels to domestic revenues increased to 16.5 per cent in Q2FY23.
International business grew by 17 per cent in the third quarter, owing to strong performance in most markets. The MENA and CIS regions performed well in international markets.
Gross margins contracted by 230 basis points in Q2FY23 due to inflationary pressures combined with an unfavourable portfolio mix due to exceptionally high sales of pain management products last year.
PBT fell 18 per cent year on year to 186 crore due to the previous year’s pressure on gross margins, the inclusion of new subsidiary costs, upfront marketing investments, and strategic outlays on distribution expansion in rural, digital, and modern trade channels. On a three-year CAGR basis, it grew by 17 per cent.
PAT of Rs. 180 crore fell three per cent year on year but increased 23 per cent year on year. Nonetheless, when compared to peers, the company has one of the highest gross margins at 66.6 per cent, PBT margin of 23 per cent, and a PAT margin of 22 per cent.
Helios Lifestyle (The Man Company) became a subsidiary of Emami after increasing its stake from 49.53 per cent to 50.40 per cent. The board of directors declared an interim dividend of 400 per cent or four rupees per equity share.
Emami Limited vice chairman and managing director Harsha V. Agarwal said, “We are happy that despite the challenging business & industry environment, the first half delivered net sales growth of 10 per cent. With our strong focus on cost control, distribution expansion, aggressive marketing campaigns, and driving penetration, we expect to deliver double digit growth with healthy margins in the second half. Thus, on a full year basis, we aspire to deliver double digit growth with higher Ebitda (earnings before interest, taxes, depreciation, and amortisation) than the previous year for our core business.”
Emami vice chairman and whole-time director Mohan Goenka said, “Consumer demand remained muted across markets with high inflation affecting consumption, especially in the rural markets. As anticipated, we witnessed a correction in the Covid contextual portfolio of pain management and healthcare products, which grew significantly during the last two years. In the given context, the quarter delivered a low single-digit growth on a year-on-year basis, however, the 3-year CAGR has been impressive with a high single-digit growth of eight per cent if compared to pre-pandemic levels. Our international business also maintained its strong run, delivering a double-digit growth of 17 per cent, notwithstanding various global and geo-political uncertainties.”
Digital
India leads global adoption of ChatGPT Images 2.0 in first week
From anime avatars to fantasy covers, users turn AI visuals into culture
NEW DELHI: India has emerged as the largest user base for ChatGPT Images 2.0, just a week after its launch by OpenAI, underlining the country’s growing influence on global internet trends.
While the tool was introduced as an advanced image-generation upgrade within ChatGPT, Indian users are quickly reshaping its purpose. Instead of sticking to productivity-led use cases, many are embracing it as a creative playground for self-expression, storytelling and online identity.
From anime-style portraits and cinematic headshots to tarot-inspired visuals and fictional newspaper front pages, the model is being used to create highly stylised, shareable content. Features such as accurate text rendering, multilingual prompts and the ability to generate detailed visuals with minimal input have helped drive rapid adoption.
What sets the latest model apart is its ability to “think” through prompts, generating multiple outputs and adapting to context, including real-time web inputs. But the bigger story lies in how users are engaging with it.
In India, trends are already taking shape. Popular formats include dramatic studio-style lighting edits, LinkedIn-ready headshots, manga-inspired avatars, soft pastel “spring” aesthetics, AI-led fashion moodboards, paparazzi-style visuals and fantasy newspaper covers. Users are also restoring old photographs, creating tarot-style imagery and experimenting with futuristic design concepts.
Local flavour is adding another layer. Prompts such as cinematic portrait collages and Y2K-inspired romantic edits are gaining traction, blending global aesthetics with distinctly Indian internet culture.
The surge reflects a broader shift in how AI tools are being used in the country, moving beyond utility to creativity. As younger users, creators and social media enthusiasts experiment with new visual formats, AI-generated imagery is increasingly becoming part of everyday digital expression.
If early trends hold, ChatGPT Images 2.0 may not just be a tech upgrade but a cultural moment, giving millions a new visual language to play with online.
