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Marico: Growth across all categories, outlook continues to remain positive

After a healthy growth in value-added hair oil in the December quarter, Marico expects to capitalise on its position and sustain a double-digit growth trajectory over the medium term

January 29, 2021 / 09:31 AM IST
Marico: Growth across all categories, outlook continues to remain positive

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 (CMP: 412; Market capitalization: Rs 53,188 crore) December quarter results were in line with street expectation. Volumes in domestic markets grew by 15 percent year on year while international operations grew by 8 percent in constant currency terms. During the December 2020 quarter, some key raw materials witnessed inflationary trends with management taking selective price increase in some portfolios, while continuing to absorb the cost pressure to a certain extent. Management thinks that these cost pressures are transient...

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