Margin pressures may ease in Q3 as Marico puts up steady show in Sept qtr

Valuations, however, cap upsides in the near term

Powered by steady growth across most of its key segments, Marico's September quarter performance met street expectations. The company reported a 21.6 per cent y-o-y rise in consolidated revenues for the September quarter (Q2FY22). The domestic business, which accounts for 77 per cent of company’s revenues, posted a robust 24 per cent growth; though volume growth for the domestic segment was lower at 8 per cent.

In the hair oil segment, while Parachute saw 18 per cent growth most of which was value growth with volumes moving up 7 per cent, in the value added hair oils segment (VAHO), however,