Shares of Marico rose 3 percent on April 5 as investors rejoiced the company's positive business updates for the fourth quarter ended March.
At 1.16 pm, shares of Marico were trading at Rs 503.05 on the NSE.
The company, in its Q4 update stated that its international business has reverted to clocking double-digit constant currency growth. As for the Q4 consolidated revenue, the company expects it to trend upwards, albeit delivering a low single-digit growth and jump back into the positive territory after three quarters.
In addition, Marico also expects domestic revenue growth to outpace volume growth in the coming quarters, along with a strong gross margin expansion on a year-on-year basis.
"In Q4, the domestic business posted a slight uptick in volume growth on a sequential basis owing to steadying trends in majority of the portfolios," Marico said.
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Meanwhile, the company also hinted towards gradual growth in its core categories in the times ahead.
"Amidst the backdrop of improving macro-indicators, we expect a gradual uptick in the growth of our core categories through the ongoing initiatives to enhance the profitability of our General Trade (GT) channel partners and focused investments towards a transformative expansion in our direct reach footprint across urban and rural outlets over the next couple of years," it said.
As for key products, parachute coconut oil recorded low single-digit volume growth in Q4 while saffola oils' volumes grew in mid-single-digit. On the other hand, value added hair oils had an optically weak quarter, declining on a high base.
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