Latest news with #SunilAgarwal
Mint
9 hours ago
- Business
- Mint
For FMCG Inc., the holy grail of volume growth is in sight
New Delhi: A surge in sales may be around the corner for some of India's leading packaged consumer goods makers, as cheaper inputs and lower import duties craft a perfect recipe for their next stage of growth. Companies and analysts alike said that falling prices of wheat, maize, barley and oils will help expand volumes, in a change from the recent experience of pricier products driving revenue. On 31 May, the government halved the basic customs duty on crude soybean oil, crude palm oil, and crude sunflower oil to 10%, eight months after raising it from nil to 20%. The move had prompted packaged goods makers to hike prices of items like soaps and biscuits to protect their margins. Crude palm oil and its derivatives are widely used across packaged foods, including cookies, cakes, chips, detergents, and soaps. 'The recent 10% point cut in import duties on crude and refined edible oils is expected to provide meaningful cost relief, particularly for palm oil. The correction in palm oil prices is likely to support margins for food and beverage, as well as home and personal care companies," analysts at Equirus Securities said in a report dated 4 June. Companies said that a stable input cost outlook and steadily declining inflation will help them focus on boosting volumes by investing in advertising and brand building. Also read | Shopping online? Your favourite brands may be saving their best for you 'Crude palm oil prices have softened, but some of our other raw materials are still relatively high," said Sunil Agarwal, co-founder and chairman of Joy Personal Care (RSH Global), a maker of moisturizers, face wash, and sunscreen. "Overall, the cost environment looks stable for now, and we don't expect major inflation in the near term—unless there are unexpected global changes. This stability allows us to shift focus from pricing to driving stronger volume growth in FY26," Agarwal added. At 3.16%, India's retail inflation in April rose at its slowest pace in over six years on the back of lower food prices, potentially allowing the central bank to cut its key policy rate for a third successive time to stimulate consumption and spur economic growth. Respondents in a Mint poll of economists and treasury heads expect the Reserve Bank of India's Monetary Policy Committee to reduce the repo rate by 25 basis points to 5.75% on Friday. The country's weather office has predicted plentiful monsoon rains, potentially leading to a bumper harvest and boosting rural incomes, supporting demand for an assortment of fast-moving consumer goods (FMCG). Fewer price changes Bikaner-based packaged foods company Bikaji Foods International Ltd, which went public in November 2022, anticipates "nominal" price increases this fiscal year. Rishabh Jain, chief financial officer, Bikaji Foods International Ltd, said, "While wheat isn't a major component of our input basket, the decline in palm oil prices will certainly contribute to improved margins. Overall, a favourable commodity environment should support better profitability this year." The company's strategy will shift to driving volume growth as commodity prices stabilize, Jain added. "Our focus will be on achieving growth primarily through increased volumes rather than price-led expansion... The easing of commodity prices provides us with the flexibility to invest more in consumer promotions, which will translate into stronger volume growth," he said. Read this | FMCG firms have been hunting for deals. Their appetite is only growing bigger Palm oil accounts for 25-30% of raw material costs for the company. Despite selective price hikes by most FMCG companies in recent quarters, these haven't fully offset cost inflation in categories like dairy, beverages, and confectionery. While the FMCG industry saw an 11% year-on-year value growth in the March quarter (driven by 4.45% volume and 5.6% price increases, as per NielsenIQ), high edible oil prices have kept staples expensive. Consequently, gross margins came under pressure in the March quarter due to costlier inputs like palm oil, tea, coffee, and copra, Nuvama Institutional Equities analysts said. Biscuit maker Parle Products said lower palm oil prices might lead to a halt in price increases during the latter part of FY26. 'We are expecting palm oil prices to come down by ₹13 to ₹14 (per kilo) in cost of palm oil. However, there's some appreciation in the Malaysian ringgit as well. Net-net we will see ₹8—10 reduction in palm oil rates," Mayank Shah, vice-president, Parle Products, said. And this | Marico calls it—India's FMCG sector to rebound this financial year India imports palm oil from Indonesia and Malaysia, the world's largest and second-largest producers of the commodity, respectively. A stronger ringgit makes imports from the southeast Asian nation costlier. If customs duty cuts were not announced, there would have been a round of price hikes towards the third or fourth quarter of the ongoing fiscal year, Shah added. Parle's volumes rose 3-3.5% in FY25, but the company expects them to grow 7-8% this fiscal year. However, key inputs like cocoa, milk, and tea continue to face upward price pressures. Coffee prices, though off recent peaks, remain elevated on a year-on-year basis. Prices of wheat, rice, maize, and barley have softened more recently, with wheat prices down 16% quarter-on-quarter, but up 3% year-on-year; rice prices are down by 1% quarter-on-quarter, and barley by 4% quarter-on-quarter, analysts at Equirus Securities noted. While milk prices remained stable through FY25, early signs of inflation emerged in the March quarter, driven by increased fodder costs and supply constraints. Also read | Q4 earnings watch: Demand slowdown puts FMCG's 'fast-moving' tag to test Prices of groundnut, soybean, and mustard oils have remained largely stable on a quarter-on-quarter basis. Brent crude prices have declined by 21% year-on-year, they said. Edible oil prices AWL Agri Business Ltd, which sells Fortune edible oils, said it is closely monitoring input costs and inventory cycles. The company was earlier called Adani Wilmar. "Once the higher-duty stocks are consumed, we will suitably reduce prices in line with the new duty structure. As always, we remain committed to passing on any sustained benefits in costs to our consumers," Angshu Mallick, chief executive officer and managing director, AWL Agri Business. The edible oil market remains stable, supported by a strong domestic supply environment. The current mustard crop has been robust, with seed production estimated at 108–120 lakh tonnes and high oil content, contributing to overall supply comfort. These factors are expected to support bulk demand and B2B agri-sales in the near term, Mallick said. 'If lower prices sustain, we expect margins to start recovering from Q2FY26," said analysts at Nuvama Institutional Equities. And read | Industry group urges edible oil makers to pass on duty cuts to consumers
Time of India
10-05-2025
- Entertainment
- Time of India
Vinod Cookware breaks stereotypes with its new Mother's Day campaign
HighlightsVinod Intelligent Cookware's new Mother's Day campaign redefines traditional narratives by honoring mothers for who they are, rather than solely for their cooking skills. The campaign features a digital film that showcases authentic, relatable settings, focusing on the emotional bond between a mother and daughter, rather than conventional cooking expectations. Sunil Agarwal, Managing Director of Vinod Cookware India, emphasizes that the film celebrates mothers who may not conform to traditional cooking roles, acknowledging their unique ways of showing love. Vinod Intelligent Cookware has launched a new Mother's Day campaign that redefines traditional narratives around motherhood and cooking. Developed in collaboration with Network Advertising and Ten Films , the campaign's central film delivers a fresh, inclusive perspective: honouring mothers for who they are, not just for what they cook. At the heart of the campaign is a compelling digital film that moves away from the cliches of 'maa ke hath ka khana' and acknowledges the quiet love of mothers who may not enjoy cooking but express care in other powerful, personal ways. The film is designed for the brand's social platforms, including Instagram and YouTube, to reach and resonate with a broad digital audience. Shot in a real home with authentic, lived-in spaces, the film intentionally avoids polished sets in favour of genuine warmth and relatability. The creative team focused on casting everyday characters, using real kitchens and food to evoke an emotional connection. The story unfolds through a genuine conversation between a daughter and her mother, revealing a bond shaped not by meals but by memories of care, encouragement, and unconditional support. It shows how the mother, despite not enjoying cooking, found her ways to nourish her child, with food sometimes ordered in, cooked by others and always served with love. The daughter's reflections gently dismantle traditional expectations of motherhood, affirming that maternal affection isn't defined by time spent in the kitchen. Sunil Agarwal, managing director, Vinod Cookware India said, 'Our film is a heartfelt tribute to every mother who questioned her role simply because she didn't conform to convention. We see her, we value her, and we celebrate her.' Shayondeep Pal, chief creative officer at Network Advertising and co-director of the film said, 'We wanted to break that convention. Countless mothers and fathers don't enjoy cooking, and that doesn't diminish the love they give. No cookware brand has ever spoken to them—until now.' Watch the video here:
Mint
05-05-2025
- Business
- Mint
Joy Personal Care to step up distribution as it plans to double revenues
NEW DELHI : Kolkata-based Joy Personal Care plans to double its revenue to ₹ 1,500 crore by FY28, driven by an expanded distribution network for its body wash, lotions and creams. Co-founder Sunil Agarwal said the company will prioritize direct outreach to more outlets and step up its presence through e-commerce. 'Over the last two to three years, we have been increasing our direct distribution by one lakh outlets a year. This will continue for the next two years till we reach direct distribution of 5 lakh outlets. We are present in over a million outlets via indirect distribution. We believe in the next two years' time we will have more than 2 million outlets in indirect distribution as well," he said. Several major consumer goods companies are increasingly adopting direct distribution, where the FMCG firm manages product sales and delivery directly to retailers ( kirana stores, supermarkets, etc.), bypassing wholesalers. Companies like Dabur India and Marico, for instance, have stepped up their direct distribution efforts in recent years. This helps with better stock availability in key markets. The over 35-year-old company closed FY25 with revenues of a little over ₹ 700 crore. Yearly volumes grew 17%, helped by greater demand for its products through e-commerce. It sells personal care products under the Joy Personal Care, Karis and Orimii brands. The company operates in the Indian beauty and personal care market, which, according to a September 2023 report by Redseer consultants, is projected to reach $30 billion by 2027. Joy Personal Care offers lower prices than companies like Hindustan Unilever, Nivea, and L'Oréal in the lotions, skin products, and body cleanser market. Recently, major consumer goods companies have noted increased competition at the mass market level, with local and regional players launching competitively priced new products. Agarwal said 40-50% of its portfolio has been introduced post-covid. Last year, it on-boarded Shah Rukh Khan as the face of its face cleansing range. 'We majorly operate in four categories—90% of the business comes from moisturizers, body lotions, face wash, and sunscreens. We are strengthening our market share in these categories. We also sell products in six geographies that we have identified—we continue to expand deeply in these markets," he said in a virtual interview with Mint . Earlier this year, the company announced the setting up of a new ₹ 100 crore plant in Baddi, Himachal Pradesh; it already operates two units in Baddi. 'We have set up a large facility in Baddi, which will be operational in June. That will triple our capacity," he added. Commenting on demand, Agarwal said demand in the first six months of the current fiscal year will be starkly better than the previous six months. 'April onwards, we are looking at a normal monsoon. This, along with tax reliefs announced in the budget, will aid consumption. Crude oil prices are falling, so a lot of positives," he added.
Time of India
04-05-2025
- Time of India
Man charred to death after car catches fire in Kadma
1 2 Jamshedpur: A man, in his late forties, was charred to death when his moving car caught fire on the Marine Drive in Kadma police station area on Sunday morning. The deceased has been identified as Sunil Agarwal. The car suddenly caught fire and within a few minutes a blast occurred following which the person on the driving seat was charred to death, said witnesses to the police. Agarwal was carrying an LPG cylinder in his car, deputy SP (headquarters II) Manoj Thakur said quoting the family members. "We have sought FSL (Forensic Science Laboratory) team's help to ascertain the cause of the incident," said Thakur.
Time of India
28-04-2025
- Business
- Time of India
Vinod Cookware enters Singapore market through partnership with Waangoo
New Delhi: Vinod Intelligent Cookware has entered the Singapore market through a partnership with Waangoo , the company said in a statement on Monday. 'Expanding into Singapore marks an exciting milestone for Vinod Cookware . Waangoo's proven logistics and customer-first approach made them the ideal partner to help us reach a discerning audience. Our commitment has always been to offer durable, high-performance cookware that blends tradition with innovation. Through this partnership, we aim to deliver an authentic Indian cookware experience to homes across Singapore and eventually the broader Southeast Asian region,' said Sunil Agarwal, Managing Director, Vinod Cookware India Private Limited. Founded by Rajeram Agarwal in 1962, it is India's leading manufacturer of premium stainless steel cookware . Vinod Intelligent Cookware is now looking to expand further into Southeast Asian markets following its Singapore entry.
