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FMCG: Mid-caps everyone’s darling!!! - Views on News from Equitymaster
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FMCG: Mid-caps everyone’s darling!!!
Aug 19, 2005

Yesterday we considered the June quarter performance of large FMCG companies in comparison to the same quarter the previous year and the picture did not look all that bad, but not exactly great either. Today we bring you an analysis of the performance of 5 mid-cap FMCG companies and we look at as to why these companies are considered as the darlings of the markets with every investor wanting to own them. The analysis comprises of Marico, Essel Propack, Pidilite, Dabur and Colgate.

(Rs m) Jun-05 Jun-06 Change
Net Sales 11,689 13,752 17.6%
Expenditure 9,870 11,591 17.4%
Operating Profit (EBDIT) 1,819 2,161 18.8%
Operating Profit Margin (%) 15.6% 15.7%  
Other Income 100 199 99.0%
Interest 61 89 45.9%
Depreciation 365 425 16.4%
Profit before Tax & extraordinary income 1,493 1,846 23.6%
Extraordinary item(s) (1) (66)  
Tax 430 443 3.0%
Profit after Tax/(Loss) 1,062 1,337 25.9%
Net profit margin (%) 9.1% 9.7%  
Effective tax rate (%) 28.8% 24.0%  

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