Jyothy Labs, owner of brands such as Ujala, Margo, Exo, MAXO, Henko and Pril, is planning to be debt free by December. For Q1 FY21, it saw a 34 per cent YoY rise in consolidated net profit to ₹50 crore, a 2 per cent increase in total income to ₹437 crore and volume growth of about 6 per cent. According to Ullas Kamath, Joint Managing Director, Jyothy Labs, consumer sentiments are “much more positive now when compared to April”. Neighbourhood stores or kiranas have made a big-time comeback, he said. In an interview with BusinessLine, Kamath spoke about the outlook for FY21, rural recovery and buying patterns. Excerpts:
How is the debt position of the company?
As of now, net debt is about ₹80 crore and it is around 3-4 months of net cash flows. At the current rate, there is neither any planned capex nor any major investment