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Marico: Growth strong, but input pressure mars the show in Q4

Parachute’s position as a market leader should help Marico corner a significant share of this market

April 06, 2021 / 09:20 AM IST
Marico: Growth strong, but input pressure mars the show in Q4

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Marico’s (CMP: Rs 403; Market capitalisation: Rs 52,035 crore) investor update before the March 2021 quarter results is in line with expectations and in conformity with its medium-term guidance. According to the release, the March quarter has seen improved demand trends as economic recovery moved into positive territory and vaccination roll-out gathered pace. India business India business, which accounts for around 77 per cent of the revenues, delivered a strong double-digit volume growth though on a low but relatively stronger base...

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