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India Equity Research Reports, IPO and Stock News
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New Product Launches. 1) HUL remains focused on expanding its personal care
portfolio, introducing Dove Face Wash and Sure Men deodorant. The company is
leveraging the strong premium brand equity of Dove brand, which has seen
healthy share gains in shampoo and soaps category, 2) GSK Consumer launched
a premium variant of its flagship MFD brand Horlicks Gold priced at 30%
premium to the regular SKU, 3) Nestlé India launched Actiplus Probiotic Dahi
(yoghurt) to target a higher share of the nascent but fast growing probiotic foods
segment. The product has been priced at ~5% premium to the regular SKU, 4)
Danone India has added a premium offering to its yoghurt portfolio – Cremix,
priced at ~30% premium to regular yoghurt variants. Danone which forayed into
the yoghurt segment about 1.5 years ago has so far restricted its distribution to
four cities, 5) Britannia launched a range of healthy milk based drinks for
children - TigerZor Choco Milk and TigerZor Badam Milk.
Price Hikes. 1) Colgate India undertook 3-6% price hike across some of its key
SKUs. This hike comes on the back of a 2-7% hike for most of its SKUs in April
this year, 2) HUL has raised prices for its soap brands – Rexona, Hamam and
Pears by 3-7% and skin cream brand Fair & Lovely by 4-10%, 3) Nestlé India
and HUL have undertaken a 10-12% price hike over past two months for their
respective coffee brands – Nescafe and Bru.
Global companies post healthy growth rates in India. 1) L’Oreal India
registered 26.4% like to like sales growth in India during 1HCY11, 2) Pepsico
reported 22% and 17% volume growth rate for the snacks and beverage division
respectively in India during the June’11 qtr, and 3) Pernod Ricard registered 33%
organic sales growth in India during FY11 (June end)
Monsoon Watch. Monsoon rainfall trends were quite strong over the past month.
Cumulative rainfall over June 1st-August 31st is 0.4% above normal with
excess/normal rains across most of the India (ex-some parts of North East region).
Latest area sown under all kharif crops has been up 3%y/y. While acreage for
soyabean, cotton and sugarcane has been higher y/y, acreage has been lower in
case of pulses and coarse cereals. Acreage for rice has been up 11.5% y/y so far.
Key commodity trends. Crude declined 3% m/m while palm oil was flat m/m.
Domestic wheat and sugar prices were relatively flat m/m. Domestic copra prices
fell 3%m/m.
Performance and Valuation. Over the past month, BSE FMCG Index was flat,
outperforming the Sensex by 6%. Dabur and Nestlé India were better performers,
up 6% and up 5%, respectively.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
New Product Launches. 1) HUL remains focused on expanding its personal care
portfolio, introducing Dove Face Wash and Sure Men deodorant. The company is
leveraging the strong premium brand equity of Dove brand, which has seen
healthy share gains in shampoo and soaps category, 2) GSK Consumer launched
a premium variant of its flagship MFD brand Horlicks Gold priced at 30%
premium to the regular SKU, 3) Nestlé India launched Actiplus Probiotic Dahi
(yoghurt) to target a higher share of the nascent but fast growing probiotic foods
segment. The product has been priced at ~5% premium to the regular SKU, 4)
Danone India has added a premium offering to its yoghurt portfolio – Cremix,
priced at ~30% premium to regular yoghurt variants. Danone which forayed into
the yoghurt segment about 1.5 years ago has so far restricted its distribution to
four cities, 5) Britannia launched a range of healthy milk based drinks for
children - TigerZor Choco Milk and TigerZor Badam Milk.
Price Hikes. 1) Colgate India undertook 3-6% price hike across some of its key
SKUs. This hike comes on the back of a 2-7% hike for most of its SKUs in April
this year, 2) HUL has raised prices for its soap brands – Rexona, Hamam and
Pears by 3-7% and skin cream brand Fair & Lovely by 4-10%, 3) Nestlé India
and HUL have undertaken a 10-12% price hike over past two months for their
respective coffee brands – Nescafe and Bru.
Global companies post healthy growth rates in India. 1) L’Oreal India
registered 26.4% like to like sales growth in India during 1HCY11, 2) Pepsico
reported 22% and 17% volume growth rate for the snacks and beverage division
respectively in India during the June’11 qtr, and 3) Pernod Ricard registered 33%
organic sales growth in India during FY11 (June end)
Monsoon Watch. Monsoon rainfall trends were quite strong over the past month.
Cumulative rainfall over June 1st-August 31st is 0.4% above normal with
excess/normal rains across most of the India (ex-some parts of North East region).
Latest area sown under all kharif crops has been up 3%y/y. While acreage for
soyabean, cotton and sugarcane has been higher y/y, acreage has been lower in
case of pulses and coarse cereals. Acreage for rice has been up 11.5% y/y so far.
Key commodity trends. Crude declined 3% m/m while palm oil was flat m/m.
Domestic wheat and sugar prices were relatively flat m/m. Domestic copra prices
fell 3%m/m.
Performance and Valuation. Over the past month, BSE FMCG Index was flat,
outperforming the Sensex by 6%. Dabur and Nestlé India were better performers,
up 6% and up 5%, respectively.
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