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Daily Voice: FMCG remains an attractive long term bet, pharma holds potential for growth, says Equirus Wealth's Abhijit Bhave

Money ControlMoney Control · 1y ago
Daily Voice: FMCG remains an attractive long term bet, pharma holds potential for growth, says Equirus Wealth's Abhijit Bhave
Medial

Abhijit Bhave, Managing Director & CEO of Equirus Wealth, believes that FMCG companies in India are well-positioned to capture the country's growth story due to the increasing penetration of organized retail, e-commerce, and rising disposable incomes. He also considers the FMCG sector to be a stable and attractive long-term investment, particularly during uncertain times. Bhave suggests that investors in the pharma industry focus on companies with robust R&D pipelines and strong balance sheets for sustained returns. He advises retail investors to maintain diversified portfolios through mutual funds and suggests HNI investors focus on fundamentally good but undervalued stocks. Bhave also discusses the importance of maintaining asset allocation and selectively investing in small-cap stocks. Regarding interest rates, he mentions that a reduction in rates may occur if inflation remains within RBI's target range and global economic conditions stabilize.

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TCPL to double capex this fiscal, expand into new categories

LivemintLivemint · 1y ago
TCPL to double capex this fiscal, expand into new categories
Medial

Tata Consumer Products Ltd (TCPL) plans to double its capital expenditure (capex) this fiscal year, with a major investment in setting up a new plant in Vietnam. TCPL aims to become a full-fledged FMCG company and has been working on consolidating its various food and beverage interests. Last year, TCPL made significant acquisitions, expanding its portfolio and foothold in new food categories. The company is well-positioned to capitalize on the long-term opportunities presented by India's consumer market, driven by factors such as a young population, growing middle class, and increasing disposable incomes. TCPL will continue to consider attractive acquisitions that make financial sense and support growth.

Zomato's Blinkit sprints to quick commerce dominance in India

TechCrunchTechCrunch · 1y ago
Zomato's Blinkit sprints to quick commerce dominance in India
Medial

India's quick commerce market has experienced significant growth and remains vibrant despite the decline in other markets. It has seen a 10-fold growth between 2021 and 2023 and currently holds a 7% share of the total addressable market estimated at $45 billion. Zomato's Blinkit leads the market with a 46% share, followed by Swiggy's Instamart (27%) and newcomer Zepto (21%). The success of quick commerce relies on efficient supply chains, investments in dark stores, and partnerships with FMCG manufacturers and farmers. However, profitability remains a concern for investors, and the long-term sustainability of the model is still uncertain. Flipkart is also reportedly considering entering the market.

Udaan raises Rs 300 Cr debt from Lighthouse Canton and others

EntrackrEntrackr · 11m ago
Udaan raises Rs 300 Cr debt from Lighthouse Canton and others
Medial

B2B e-commerce platform Udaan has raised nearly Rs 300 crore (over $35 million) in debt funding from Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital. This is the first debt round for the Bengaluru-based company in the past year. The new funds are intended to strengthen Udaan’s balance sheet and support its mission of empowering small businesses across India, the company said in a press release. In December 2023, the firm raised a $340 million Series E round led by M&G Plc, with participation from existing equity investors Lightspeed Venture Partners and DST Global. Although this round provided a financial boost to Udaan, its valuation dropped by 59.3%, settling at $1.3 billion, down from a peak valuation of $3.2 billion. According to Udaan, the company is on track to achieve profitability, reporting a 60% increase in revenue and more than a 50% rise in daily transacting buyers in 2024. Udaan also claimed a 30% reduction in absolute EBITDA burn in the current calendar year. The eight-year-old company operates a marketplace across several categories, including lifestyle, electronics, home and kitchen, staples, fruits and vegetables, FMCG, pharma, toys, and general merchandise. It claims to have a network of over 3 million retailers across 900 cities. Udaan has been actively cutting costs over the past year, as evidenced by layoffs. In December 2023, the company let go of more than 100 employees. While Udaan has yet to disclose its FY24 numbers, its gross revenue (GMV) dropped by 43.1% to Rs 5,629 crore in FY23, down from Rs 9,900 crore in FY22. However, its losses also narrowed by 33.7%, from Rs 3,132 crore in FY22 to Rs 2,076 crore in FY23.

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