Tag: marico

Shares of Marico rallied nearly 6 percent to hit a record high of Rs 590 on the BSE in Wednesday’s intra-day trade after the company said it has witnessed healthy consumer sentiment across categories and has recorded revenue growth in the low twenties with strong double-digit volume growth on a 2-year compound annual growth rate (CAGR) basis during the September 2021 quarter. "During the quarter, the sector witnessed improving demand trends as mobility levels increased with reducing COVID-19 infections and accelerated vaccination drives. Discretionary categories and out-of-home consumption also visibly picked up," the company said in a regulatory filing. Parachute oil delivered with their medium-term aspirations. Saffola franchise, Saffola Edible Oils had a muted quarter, largely due to volatility in edible oil prices leading to trade destocking and partly owing to lower in-home consumption. Read more

Consumer major Marico stocks rose about 2.4 percent in trade today(6th Oct.2021) after its quarterly update highlighted pick up in demand and improving consumer sentiment across categories. While the ongoing vaccination and lower covid infections not only led to healthy overall demand, improved mobility too rubbed off on growth in discretionary and out-of-home categories. For its domestic business which accounts for three-fourths of its revenues, revenue growth came in at low twenties which was in line with analyst estimates. After an 11 percent dip in Q1FY21, Marico’s revenue growth has been trending up over the last three quarters on a lower base and gradual recovery. The company had ended the June quarter with a growth of 26 percent. While the sharp 14 percent decline in domestic volumes had dragged down the two-year average quarterly growth to 3.5 percent in the June quarter, the company indicated that the metric is now closer to double digits. Read more

The Indian benchmark indices opened in the positive territory today(6th October 2021) with Nifty above 17,850. The BSE Sensex rose over 120 points to trade at 59,872 levels. The 50-pack index, meanwhile, gained nearly 50 points at 17,870. ONGC, IOC, and Coal India were the top gainers on the benchmark index. Top laggards were Titan, Divi's Lab, SBI Life, and IndusInd Bank. Sectorally, barring Nifty IT and Pharma, all indices were in the green. The broader indices, too, opened higher. The Nifty Midcap 100 rose 0.4 percent and the Smallcap 100 was higher by 0.7 percent. In pre-open itself, the Midcap index had hit new record high levels. Read more

Marico share price gained 6 per cent to Rs 301.65 on May 5 despite the company has posted a weak set of numbers for the quarter ended in March. The company, on May 4, reported a drastic 50.6 per cent year-on-year (Y0Y) fall in consolidated profit to Rs 199 crore versus profit of Rs 403 crore because of the tax credit in the year-ago period and Rs 10 crore of exceptional items in Q4FY20. Domestic revenue in Q4 declined 7.6 per cent to Rs 1,146 crore and the international business grew by 5.1 per cent to Rs 350 crore YoY. Earnings before interest, tax, depreciation and amortisation (EBITDA) declined 4.1 per cent year-on-year to Rs 282 crore in the quarter ended March 2020. Brokerage firm Jefferies revised earnings per share (EPS) for Marico higher post the results, factoring in higher-margin for FY21. Around 48.1 lakh shares have changed hands on the NSE and BSE so far. In 2020 so far, Marico has fallen 9.83 per cent as compared to Sensex's 23.21 per cent plunge.