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Marico: Strong growth across categories, market share gains continue

Investors should look out for growth in food portfolio, recovery in rural demand after witnessing moderation for a couple of months

October 29, 2021 / 10:29 AM IST
Marico: Strong growth across categories, market share gains continue

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

The September 2021 quarter results for Marico (CMP: Rs 564; Market Capitalisation: Rs 72,860 crore) were in line with Street expectations. Volume growth came below expectations. The Street expected a volume growth of 10 percent against the declared 8 percent. Marico gained market share in more than 90 percent of the portfolio in the India business on a MAT (moving annual total) basis. Q2FY22 results India business (standalone) revenue growth came at 24 percent on the back of 8 percent volume...

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