Marico Limited — Important, 03-01-2025: General Updates

During Q3 FY2024-25, Marico showcased steady demand trends, bolstered by improved rural consumption and stable urban sentiment. The domestic segment experienced a sequential rise in underlying volume growth, with significant market share gains across key franchises. Parachute Coconut Oil displayed resilience amid rising input costs, achieving low teen revenue growth thanks to price adjustments. Saffola Oils maintained volume stability, resulting in high teen revenue growth, while Value Added Hair Oils faced minor declines amidst competitive pressures. Foods and digital brands continued strong momentum, outperforming expectations.

Internationally, the business reported mid-teen constant currency growth, led by robust performance in Bangladesh and consistent gains in MENA and South Africa, although Vietnam faced a sluggish market. Overall, the consolidated business delivered mid-teen revenue growth year-on-year, aligning with the goal of double-digit growth for the fiscal year. Despite rising input costs, Marico aims for sustainable, profitable volume growth, focusing on brand equity and diversification while being mindful of margin pressures. Investors should maintain a watchful eye on margin trends and the company’s strategic initiatives moving forward.