Pack-Man Weekly Round-up

Pack-Man spots top six headlines for you - Dabur's Burman acquires additional 7.5% in REL; Rise of organised retail FMCG sales; ITC reports a 17.6% net profit.

17 Aug 2023 | By WhatPackaging? Team & WhatPackaging? Team & WhatPackaging? Team & WhatPackaging? Team

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Dabur’s Burman picks 7.5% more in Religare Enterprises
Dabur’s Burman family-controlled entities acquired a total of 21.5% stake, with an additional 7.5%, in Religare Enterprises (REL) through multiple block deals worth Rs 534 crore. 

Pack-Man sees this as a step towards a sustainable future. Recently, Dabur became the first Indian plastic waste positive FMCG company. It has collected, processed and recycled 35,000 MT of post-consumer plastic waste from all over India in the 2022-23 financial year.

Alongside, Dabur has also been running community-level projects to build awareness about waste segregation at source and involving the community in its plastic waste management programmes.

FMCG sales spurs with rise of organised retail
During the April to June period, India’s organised retail recorded a volume growth of 21.1% according to a NeilsenIQ report. Steady urban sales in the FMCG industry has stimulated this growth for modern trade over traditional, by 6.2% in the same quarter.

Pack-Man says indeed the organised retail has got the pre Covid charm.

Glenmark Pharma to divest 8% life sciences asset
The company intends to divest 8% stake in the life sciences arm, as a regulatory requirement on public shareholding. Glenmark Life Sciences contributes 82.84% equity to the parent company. The goal is to focus on manufacturing and marketing pharmaceutical products globally.

Sustainability has become a priority for life sciences’ companies corporate responsibility programs. Pack-Man notices this activity as the process of scouting for licensing partners. And, the Indian pharmaceutical market continues to hold opportunities for branded and generic drugs.

ITC reports a 17.6% net profit 
The Kolkata-headquartered conglomerate reported a 17.59% y-o-y rise leading to a net profit of Rs 4,902.74 crores in the first quarter. Its profitability was account of cut-down expense total of Rs 11,158.64 crores down to 14.77%. 

Despite the fall during the period in the agricultural business, the company witnessed growth in the cigarette and non-cigarette sector by 12.96% and 16.05%. The latter’s Ebitda stood at Rs 570 crore at 11% margin. 

ITC hotel business also has an increased revenue of 600.18 crore, which rose to Rs 131. 22 crore by 16.99%. 

Pack-Man is stunned with the comeback.

Pack sizes get bigger as inflation shrinks
FMCG companies have started putting extra grammage into into the packs, making the retail pack sizes bigger. Industry stalwarts say this is targeted for Rs 10, Rs 20, Rs 25 categories where the fluctuation is not inconvenient. 

Grammages back by 10-12% on select packs, finds out Pack-Man. According to NeilsenIQ, FMCG sales has reported a growth by 12%, with 7.5% in the latest quarter.

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