Bajaj Consumer Care Ltd has continued its share buyback program, repurchasing 48,105 equity shares on February 17, 2023. The company acquired these shares at an average price of Rs. 165.89 per share, demonstrating its commitment to returning value to shareholders.

Buyback Details

The share repurchase was executed through ICICI Securities Limited on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The breakdown of the shares bought back is as follows:

Cumulative Buyback Progress

With this latest transaction, Bajaj Consumer Care has now repurchased a total of 2,824,493 shares through its ongoing buyback program. This represents a significant number of shares being taken off the market, potentially increasing the value for remaining shareholders.

Share Information

Bajaj Consumer Care's equity shares have a face value of Re. 1 each. This low face value allows for greater flexibility in share transactions and can make the stock more accessible to a wider range of investors.

Buyback Mechanism

The company is conducting this share buyback through open market operations, utilizing stock exchange mechanisms. This method allows for a transparent and market-driven process, ensuring fair pricing for both the company and its shareholders.

The ongoing buyback program reflects Bajaj Consumer Care's confidence in its financial position and its commitment to enhancing shareholder value.

Bajaj Consumer Care Limited , a prominent player in the personal care products sector, has reported a robust performance for the first quarter, alongside significant corporate actions that signal strategic growth initiatives.

Financial Highlights

Bajaj Consumer Care Limited reported standalone revenue of ₹244.50 crores, up 3.2% year-on-year, with EBITDA growing 11.6% to ₹42.80 crores and PAT increasing 2.8% to ₹39.00 crores. Consolidated revenue reached ₹259.50 crores, growing 7.4% year-on-year, driven by the inclusion of acquired subsidiary Vishal Personal Care Limited.

The company's flagship Almond Drop Hair Oil grew 4% while Bajaj 100% Pure Coconut Oil delivered over 20% growth. Gross margins improved to 56.6% on standalone basis, up 140 basis points year-on-year.

Market Performance

General Trade registered growth after a gap with strong urban performance, while Modern Trade and E-Commerce both grew over 20%. However, rural markets remained sluggish and international business faced double-digit decline due to external headwinds.

Strategic Corporate Actions

Share Buyback Proposal

The Board of Directors has approved a significant share buyback proposal, demonstrating confidence in the company's financial strength and commitment to enhancing shareholder value. Key details of the buyback include:

The proposed buyback is subject to shareholder approval through a special resolution via postal ballot.

Subsidiary Acquisition

Bajaj Consumer Care completed the acquisition of Vishal Personal Care Limited as a wholly-owned subsidiary. This strategic move is aimed at strengthening the company's market position.

Segment Performance and Future Outlook

The company continues to operate primarily in the "Cosmetics, Toiletries and Other Personal Care products" segment. The consistent growth in revenue and profitability reflects the company's strong market presence and effective business strategies.

Bajaj Consumer Care Limited has also expanded its Project Aarohan initiative, further demonstrating its commitment to growth and innovation.

As the company moves forward with these initiatives, investors and industry observers will be keenly watching the impact on its market share and financial performance in the coming quarters.