Bajaj Consumer Care shares plunge over 8% after Q4 results and buyback announcement

Total revenue from operations stood at Rs 240 crore versus Rs 239 crore reported in Q3FY24 and Rs 249 crore in Q4FY23. It was flat on a quarter-on-quarter basis while down by 4% on a YoY basis.

Its Almond Drop Hair Oil (ADHO) brand registered a double-digit growth of 15% in alternate channels due to sustained investments and customer-specific marketing interventions in Q4, the company filing said. The volume growth of 0.9% for FY24 was backed by initiatives to drive improved value in mid and large packs.

In the new products category, value growth of 26% in Q4 FY24 and 12M in FY24 was reported.

In the channel performance, general trade declined by mid-single digits in Q4 on a secondary basis. The organised trade registered growth of 11% for Q4 and 22% for FY24. Saliency was reported at 24% for FY24.On a consolidated basis, International Business grew by 4% in Q4 and 24% in FY24.

Meanwhile, Bajaj Consumer Care's also approved the company's proposal for the buyback of fully paid-up of up to 57.41 lakh at a price of per unit. This will be payable in for an amount aggregating up to Rs 166.49 crore, the company said in its filing to the exchanges.

The buyback price is at an 11% over Wednesday's of Rs 261.40 on the NSE. The announcement was made on Wednesday after market closing hours along with the company's March .

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