Marico

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India business volume growth improved slightly over the preceding quarter, staying in mid-single digits

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Saffola, the master brand under which Marico offers healthier food options, is now worth Rs 2,000 crore-plus, said Marico MD & CEO Saugata Gupta. About inflation, Gupta told PTI the "worst" is behind and he sees a gradual recovery for the FMCG (Fast Moving Consumer Goods) segment with rural market making a comeback. The rural FMCG market, which has witnessed a decline in the last 4-5 quarters, is expected to have a turnaround in the next 2-3 quarters, he said. "I think the worst is behind," said Gupta, adding, "Overall for FMCG, we see a gradual recovery, but that has to be led by rural. Urban has been decent." At the industry level, food continues to do well and HPC (home and personal care) category is struggling a bit. This is because, last year, there was significant inflation, he said. As inflation eases, now he expects "better margins" in top-line and said the urban market and modern trade channels are recovering and going back to pre-Covid levels while the general trade is .

Home-grown FMCG major Marico Ltd on Friday reported a 5.04 per cent increase in consolidated net profit at Rs 333 crore in the third quarter that ended December 31, 2022. The company had posted a net profit of Rs 317 crore in the October-December quarter a year ago, Marico said in a regulatory filing. Its revenue from operations was at Rs 2,470 crore, up 2.61 per cent during the quarter under review, as against Rs 2,407 crore a year ago. In the third quarter of FY23, revenue from operations grew "with underlying volume growth of 4 per cent in the domestic business and constant currency growth of 8 per cent in the international business," said Marico in an earnings statement. Marico's total expenses were at Rs 2,067 crore, up 2.22 per cent in the third quarter of this financial year. Its revenue from the domestic market was up 1.87 per cent to Rs 1,851 crore in the third quarter of FY23. It was Rs 1,817 crore a year ago. "During the quarter, the FMCG sector in India showed some s

Brokerages have a mixed view on the stock; scale up of foods segment key for further gains

CLOSING BELL: Broader markets, meanwhile, outperformed benchmark indices as Nifty MidCap 100 and Nifty SmallCap 100 indices rose up to 0.4 per cent

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The FMCG firm is tapping the increasing tribe of conscious, albeit indulgent modern consumers with this new on-the-go healthy snack brand

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To pay Rs 172 cr under the deal, which is expected to be completed by March 31

Marico on Friday said it will acquire Vietnam-based Beauty X Corporation, which owns female personal care brands 'Purit de Prvence' and 'liv', in an all-cash deal for 493 Billion Vietnamese Dong (about Rs 172 crore). The move will help the homegrown-FMCG major to expand its presence in Vietnam. Its wholly owned subsidiary, Marico South-East Asia Corporation (MSEA) has entered into a definitive agreement to acquire 100 per cent of Beauty X Corporation, a firm which operates in the beauty and personal care space offering products such as shower gels, shampoos, conditioners, face wash and lotions among others. "The transaction will expand Marico's presence in the female personal care segment in Vietnam, with an offering of a range of premium and differentiated hair care and skin care products, while also realising various operational synergies," the company said. The transaction is expected to be completed by March 31, 2023, subject to requisite regulatory approvals and customary clos

Further price cuts, higher advertising costs to weigh on margins

The personal products maker said that the decline in profit was mainly due to losses in translation of foreign currency receivables and higher effective tax rate (ETR)

Expenses climbed 4%, while revenue increased 3% to 24.96 billion rupees led by growth in international business

Product launched in Bengal, Delhi and Mumbai across general trade; will be available pan-India in phases, and across modern trade and major e-commerce platforms as well

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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 ..

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

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.