Page 9 - Marico

Marico India business posts low single-digit volume growth in Q2FY23

FMCG firm Marico Ltd on Monday said its India business posted low single-digit volume growth in the second quarter of the ongoing fiscal. In a quarterly update, the company said demand sentiment in India trended on similar lines as the preceding quarter during most of the second quarter, with some signs of positivity in the last month. "With retail inflation holding firm, downtrading in rural (areas) was still prevalent during the quarter. Urban and premium discretionary segments continued to fare better," it said in a regulatory filing. The company's flagship Parachute coconut oil recorded low single-digit volume decline although "the brand witnessed improving trends towards the end of the quarter aided by the enhanced value proposition in the prevailing soft copra price environment". Value added hair oils grew in low single digits in value terms, mainly dragged by the subdued rural sentiment, it said, adding that Saffola oils recovered with high single-digit volume growth on a ..

After over 50% rise in 2022, is the stupendous rally in ITC fizzling out?

However, the counter has lost over 5 per cent from its recent high of Rs 346.25 hit on September 23, 2022 and has underperformed the S&P BSE Sensex, which has lost nearly 2 per cent since then

FMCG beat market blues; charts hint 15% upside for ITC, Varun Beverages

The Nifty FMCG index hit a fresh all-time high on Thursday even as the key benchmark indices wilted under selling pressure, tracking losses in global markets.

With brand Saffola, Marico eyes Rs 850-1,000 cr food business by FY24

FMCG firm Marico will continue to expand its health care brand Saffola as it aspires to build an Rs 850-1,000 crore business from its food portfolio by FY24, said a top company official. In the last two years, Marico has extended the brand Saffola in immunity, foods and recently launched mayonnaise and peanut butter, its Managing Director and CEO Saugata Gupta said. "We will continue to launch a significant aggressive innovation programme under the brand Saffola in line with our aspiration to create Rs 850-1,000 crore food portfolio by FY24," Gupta said while replying to the queries of shareholders in the AGM. Marico will continue to launch and expand the addressable market in the segment through Saffola or any new brand. Under the brand Saffola, Marico is selling various products, including noodles, oats, honey and immunity booster Chyawanprash, besides the edible oil. The food portfolio of Marico has already achieved the aspiration of reaching Rs 450-500 crore topline in FY22, G

Marico Q1 net profit rises 3% to Rs 377 cr; revenue up 1.3% to Rs 2,558 cr

The company had posted a net profit of Rs 365 crore in the April-June period a year ago, Marico said in a BSE filing.

Vote against reappointment of Harsh Mariwala: SES to Marico's shareholders

Seeks approval for revision in remuneration payable to Marico's cost auditors

Marico's D2C brands have grown to Rs 500 cr business, says Mariwala

Marico, which has three D2C (direct to consumer) brands in its fold, now sees business worth Rs 500 crore from these internet-first FMCG offerings, the company's Chairman Harsh Mariwala said

ITC can double from current levels; HUL, Marico may hit new highs

The current chart formation is akin to 2011, provided ITC ends August on a positive note. Post which, the stock can potentially double from current levels.

Marico sees better margin in H2FY23 on likely cooling of commodity prices

FMCG firm Marico expects demand and margin trends to improve towards second half of FY23 on likely easing of crude and edible oil prices in next few months, said the latest annual report

Muted Q1 may cap upsides in Marico stock as leading brands underperform

The underperformance for the owner of Parachute and Saffola brands could continue as the June quarter operational performance for the India market was below expectations

5 technical reasons to sell Marico, Dabur and buy Hindustan Unilever

Shares of Hindustan Unilever are exhibiting a major breakout, whereas Dabur India and Marico are not exhibiting much of a promise on the charts.

Marico's India business volume declines in mid-single-digits in Q1

The company's Parachute coconut oil also recorded a marginal volume decline in the quarter

Marico reports mid-single-digit volume decline in domestic mkt in Apr-Jun

Marico reported a volume decline "in mid-single digits" in its India business, as the sector continued to witness "tepid demand" as rising retail inflation exerted pressure on the share of wallet

Stocks to Watch Today: Cipla, RIL, PNB, Reliance Power, Metals, Restaurants

Stocks to Watch Today: Shares of metal companies are also to be in focus as copper prices fell to 17-month lows amid new COVID restrictions in China, slowing global manufacturing activity and a jump i

Marico acquires 54% stake in breakfast & snacks brand True Elements

FMCG major Marico on Monday said it has acquired a majority 54 per cent stake in the digital-first healthy breakfast and snacks brand True Elements for an undisclosed amount.

Marico chief Harsh Mariwala is the EY Entrepreneur of the Year

Mariwala will represent India at the EY World Entrepreneur of the Year Award to be held in June

Uncertain growth outlook may be a drag on Marico in the near term

Stable price outlook for inputs such as copra, however, is a positive

Uncertain growth outlook across key categories may be a drag on Marico

However, some brokerages are cautious about growth trends though the company is better placed than peers on the raw material front

Marico Q4 net profit rises 13.2% to Rs 257 cr; revenue up by 7.4%

FMCG firm Marico Ltd on Thursday reported a 13.21% rise in consolidated net profit to Rs 257 crore for the fourth quarter ended March 2022.

Marico expects low single-digit growth in India revenue in Q4 FY22

FMCG major Marico said its domestic business in the January-March quarter stayed relatively firm, helped by "low single-digit" revenue growth and marginally positive volumes.