External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Muted Revenue Trajectory: Jyothy Labs reported a marginal increase in revenue by 0.3% YoY in Q2FY26 to Rs 736 Cr, supported by 2.8% volume growth.</li><li>The recent GST rate revision led to temporary channel realignment, while general trade remained subdued. In contrast, modern trade, e-commerce, and quick commerce channels posted healthy double-digit growth.</li><li>The value–volume divergence was driven by MRP reductions, higher grammage, and promotional initiatives. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Muted Revenue Trajectory: Jyothy Labs reported a marginal increase in revenue by 0.3% YoY in Q2FY26 to Rs 736 Cr, supported by 2.8% volume growth.The recent GST rate revision led to temporary channel realignment, while general trade remained subdued. In contrast, modern trade, e-commerce, and quick commerce channels posted healthy double-digit growth.The value–volume divergence was driven by MRP reductions, higher grammage, and promotional initiatives. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Jyothy Labs Ltd - Muted Quarter, Margins Slip; Maintain HOLD

<ul><li>Muted revenue trajectory: Jyothy Labs reported Q1 revenue of Rs 751 Cr, up 1.3% YoY, supported by 3.6% volume growth (~5% volume growth excluding the HI segment).</li><li>Rural demand remained steady, cushioning the effect of subdued urban consumption, where inflationary pressures and a shift toward convenience-led channels weighed on general trade.</li><li>Modern trade, e-commerce, and quick commerce recorded double-digit growth. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Muted revenue trajectory: Jyothy Labs reported Q1 revenue of Rs 751 Cr, up 1.3% YoY, supported by 3.6% volume growth (~5% volume growth excluding the HI segment).Rural demand remained steady, cushioning the effect of subdued urban consumption, where inflationary pressures and a shift toward convenience-led channels weighed on general trade.Modern trade, e-commerce, and quick commerce recorded double-digit growth. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Jyothy Labs Ltd - Topline Stalls, Margins Slip; Downgrade to HOLD

<ul><li>Muted Top-line Growth: Despite the tough environment, the company delivered 4% volume growth in Q4FY25, with consolidated revenue inching up 1.1% YoY to Rs 667 Cr.</li><li>The divergence between volume and value was primarily driven by increased grammages and promotional pricing in certain categories.</li><li>Management further highlighted that FY25 was marked by muted consumption due to inflationary pressures and urban demand weakness, as consumers down-traded to smaller packs, impacting value growth. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Muted Top-line Growth: Despite the tough environment, the company delivered 4% volume growth in Q4FY25, with consolidated revenue inching up 1.1% YoY to Rs 667 Cr.The divergence between volume and value was primarily driven by increased grammages and promotional pricing in certain categories.Management further highlighted that FY25 was marked by muted consumption due to inflationary pressures and urban demand weakness, as consumers down-traded to smaller packs, impacting value growth. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Jyothy Labs Ltd. - Expecting Gradual Demand Recovery; Maintain BUY

<ul><li>Jyothy Labs Ltd (JLL) was founded in 1983 and was initially a single-product company with Ujala fabric whitener as the only product.</li><li>However, the company has since expanded and diversified its operations nationwide.</li><li>In FY11-12, JLL acquired Henkel India Ltd. (HIL), which had brands such as Henko, Mr.White, Pril, Fa, Margo, and Neem. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Jyothy Labs Ltd (JLL) was founded in 1983 and was initially a single-product company with Ujala fabric whitener as the only product.However, the company has since expanded and diversified its operations nationwide.In FY11-12, JLL acquired Henkel India Ltd. (HIL), which had brands such as Henko, Mr.White, Pril, Fa, Margo, and Neem. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pick of the Week:Jyothy Labs - 12th April, 2025

External broker reports(aggregated public sources), Sharekhan

Sharekhan

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Jyothy Labs Limited’s (JLL’s) Q3FY25 performance was muted with revenue growing by just 4%, while a ~110 bps y-o-y decline in OPM led to 4% y-o-y decline in PAT.</li><li>Management does not expect any significant recovery in demand in Q4. OPM guidance maintained at 16-17% for the near term.</li><li>JLL launched Jovia in the mass toilet soap segment to take benefit of downtrading by customers and Maxo Racquet to complete its HI portfolio.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Jyothy Labs Limited’s (JLL’s) Q3FY25 performance was muted with revenue growing by just 4%, while a ~110 bps y-o-y decline in OPM led to 4% y-o-y decline in PAT.Management does not expect any significant recovery in demand in Q4. OPM guidance maintained at 16-17% for the near term.JLL launched Jovia in the mass toilet soap segment to take benefit of downtrading by customers and Maxo Racquet to complete its HI portfolio.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

Jyothy Laboratories Limited develops and manufactures household products.

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Jyothy Laboratories (JYL IN)

Jyothy Labs Ltd - Muted Quarter, Margins Slip; Maintain HOLD

Muted Revenue Trajectory: Jyothy Labs reported a marginal increase in revenue by 0.3% YoY in Q2FY26 to Rs 736 Cr, supported by 2.8% volume growth.

Axis Direct

Jyothy Labs Ltd - Topline Stalls, Margins Slip; Downgrade to HOLD

Muted revenue trajectory: Jyothy Labs reported Q1 revenue of Rs 751 Cr, up 1.3% YoY, supported by 3.6% volume growth (~5% volume growth excluding...

Axis Direct

Jyothy Labs Ltd. - Expecting Gradual Demand Recovery; Maintain BUY

Muted Top-line Growth: Despite the tough environment, the company delivered 4% volume growth in Q4FY25, with consolidated revenue inching up 1.1%...

Axis Direct

Pick of the Week:Jyothy Labs - 12th April, 2025

Jyothy Labs Ltd (JLL) was founded in 1983 and was initially a single-product company with Ujala fabric whitener as the only product.

Axis Direct

Jyothy Laboratories Ltd - Muted Q3

Jyothy Labs Limited’s (JLL’s) Q3FY25 performance was muted with revenue growing by just 4%, while a ~110 bps y-o-y decline in OPM led to 4% y-o-y...

Sharekhan

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