Marico expects 15 per cent sales growth in East

Fast moving consumer goods (FMCG) major Marico is looking at close to 15 per cent growth in business in eastern India this fiscal, led by its personalcare products as well as its edible oil brands.

Addressing a press conference in Kolkata, Milind Sarwate, chief HR and strategy of Marico, “We are planning to build on the health quotient and introduce several snacks brands under the ‘Saffola’ brand as it has a good brand recall as a healthy product. In a few years we expect edible oils and foods to earn more revenues for us than our personalcare products which is our largest revenue earner right now.”

“Going forward we will launch food and snacks that will build on the health platform. It will also help us differentiate. For instance we have launched low GI index rice whose absorption is low after intake,” Sarwate added.

Marico currently has a turnover of Rs 1557 crore and a market capitalisation of about Rs 4,000 crore.

In line with market expectations, Marico recorded a net profit growth (consolidated) of Rs 51 crore for the third quarter ending December 2008, a 9.8 per cent rise from Rs 46 crore in the corresponding quarter last year.

The revenue of the group, which has products like Parachute, Saffola, Hair & Care and service presence under the Kaya brand, grew 23 per cent to touch Rs 623 crore, compared to Rs 505 crore for the same quarter a year ago.