"Over the last two years, we have been working on a completely differentiated product portfolio for professional segment designed for Indian hair. We are entering this market and we have very ambitious plans for this market," GCPL Business Head - India and SAARC Sunil Kataria told PTI.
The impact on the volume front is expected in the current quarter as well due to the gradual pick-up in GSTN coverage. So, the flattish volume growth observed in Q1 of 2018 can further deteriorate in the current quarter.
Besides, HUL is looking up to its trade partners to soon attain "normalcy" post GST and is working closely with them to restore it.
Total income during the quarter under review fell by 1.96 per cent to Rs 208.49 crore as against Rs 212.67 crore in the corresponding period last year, the company said in a BSE filing.
"Presently we have connected over 50,000 users in the south and west, and are looking to expand this number to over 70,000 small retailers by the end of 2017," chief executive officer of ShopX, Amit Sharma told PTI.
The company said it would further like to penetrate into segments like fragrances and flavours, food and beverages, etc. in which new products will be launched in the immediate future.
The new Goods and Services Tax (GST) regime replaces a thicket of indirect central and state levies that critics argue have blunted economic competitiveness and hobbled efforts to lift more people out of poverty.
The rollout of GST will benefit sectors which are reliant on logistics and distribution costs such as the FMCG sector, E-commerce and retail
The programme comprises training on GST rates for beverage categories, understanding the GST credit mechanism, GST compliances and cut off dates as also managing the transition to GST, among others.
Fast moving consumer goods (FMCG) major Marico may be prepared to transition to the new tax regime, goods and services tax (GST) but expects the June quarter to be impacted because of this transition. In an exclusive interview to CNBC-TV18's Priya Sheth, Marico's Harsh Mariwala said that the company is prepared for some degree of degrowth.
Marico, Godrej Consumer Products and Dabur said they are helping their trade partners to liquidate current inventory to ensure a smooth transition and reduce the loss of sale at the retail level.
A National Anti-profiteering Authority will be set up for two years and will have the power to order price changes or impose penalties.
FMCG major Marico's founder Harsh Mariwala has termed Patanjali “the most overhyped brand in India", expressing skepticism about its success in future.
The company, which today opened its first outlet in Mumbai, said it will soon have similar set ups in New Delhi, Madhya Pradesh and Rajasthan.
HUL Chief Financial Officer P B Balaji took home a salary of Rs 8.33 crore for the period under review, although he also did not get any raise in 2016-17.
PhillipCapital is hosting their Annual Ground View Conference in Mumbai. In an interview to CNBC-TV18, Naveen Kulkarni, Co-Head of Research at Phillipcapital spoke about the mood at the conference and specific stocks.
The S&P BSE Sensex pared gains in the last two trading sessions and eventually closed in the green largely led by weak global cues.
Mutual funds have been picking up shares of FMCG such as HUL, Marico, ITC, Colgate, Dabur
However, Kotak MF remains constructive on markets and corrections are likely to remain short-lived, said CIO Harsha Upadhyaya,
The GST will be positive for Colgate and Dabur and will have neutral to negative for cigarette manufacturers
ITC surging to record high in trade today - analysts believe that the fast moving consumer goods (FMCG) sector is likely to benefit the most from the onset of the goods and services tax (GST) regime and in that ITC tops the list.
Niche indices such as BSE FMCG and Nifty FMCG gained over 2 percent. Major stock such as ITC and Hindustan Unilever too gained
The Nifty50 rose to a fresh record high of 9,521 in morning trade on Wednesday, but many are still waiting for a slight dip as a lot of smart money is still waiting on sidelines, Nilesh Shah, MD, Kotak AMC said in an interview with CNBC-TV18.
The company had posted a net profit of Rs 143.27 crore during the same period last year, Colgate-Palmolive said in a BSE filing.
The company had posted a net profit of Rs 124.84 crore in the January-March quarter a year-ago, GCPL said in a BSE filing.