Marico reported a good quarter. Revenue grew 15 percent while domestic volume growth at 9.3 percent comes in-line with estimates. In an interview with, Saugata Gupta, MD & CEO of Marico spoke about the results and his outlook for the company.
Watch the interview Harsh Mariwala, Chairman of Marico from the sidelines of the Forbes India Leadership Awards 2017 with Priya Sheth of CNBC-TV18, where he spoke about the implications on the industry post the slab revision for several items from 28 to 18 percent by the GST Council.
In an interview to CNBC-TV18, Harsh Mariwala, Chairman of Marico gave an update on how the company is faring post goods and services tax (GST) and what is the growth outlook.
Fast moving consumer goods (FMCG) major Marico may be prepared to transition to the new tax regime, goods and services tax (GST) but expects the June quarter to be impacted because of this transition. In an exclusive interview to CNBC-TV18's Priya Sheth, Marico's Harsh Mariwala said that the company is prepared for some degree of degrowth.
The fast moving consumer goods (FMCG) industry is gearing up for July 1st. In an interview to CNBC-TV18, Saugata Gupta, MD & CEO of Marico spoke about the goods and services tax (GST) rollout.
Watch the interview of Kiran Mazumdar-Shaw, CMD of Biocon, Rakesh Biyani, Joint MD at Future Retail, Gnanesh Gala of Navneet Education, Harsh Mariwala of Marico, Bharat Madan, Group CFO at Escorts and KU Subbiah, CFO, VST Tillers Tractors in which they shared their views on how goods and services tax (GST) will impact businesses across the country.
“The government has done very well, we are now the best foreign direct investment (FDI) destination in the world. India’s image has dramatically improved in the last three years”, Harsh Mariwala, Chairman of Marico told CNBC-TV18.
The CII National FMCG Summit is underway. A report titled â€œWinning with the Indian Consumersâ€ unveiled at the summit says that the sector is expected to grow over 15 percent in next two to three years.
The founders of the company can give their valid advise to the board. The board too has to be open about founders' opinion. But in the end, it is up to the board to decide what is reasonable, and what isn't.
Listing his expectations from the upcoming Union Budget, Harsh Mariwala, Chairman of Marico hopes that the government will reduce corporate tax rates in this year's policy.
Have bought 4 lakh shares of L&T Finance Holdings at an average price of Rs 80 per share, over a period of time, said Harsh Mariwala, Chairman, Marico.
In an interview to CNBC-TV18's Sonia Shenoy & Reema Tendulkar, Varun Lohchab, MD & Head of Research at Religare Capital Markets, Abneesh Roy, Associate Director at Edelweiss Securities and Amnish Aggarwal, Senior VP-Research at Prabhudas Lilladher did review FMCG space for 2016 and how 2017 will pan out for the sector.
Indian consumer goods company Marico is optimistic on the situation improving in the January-March quarter. Speaking to CNBC-TV18, MD & CEO, Saugata Gupta says, impact of the demonetisation drive was high initially but now there seems to be an improvement.
"The government is trying to do many things within a short period of time," says Harsh Mariwala, Chairman of Marico. Several traders are still not prepared for GST, he adds.
Speaking to CNBC-TV18 Harsh Mariwala, Chairman, Marico said that edible oil will be in the 5 percent tax slab, while hair oil will be under 18 percent. He also added that it will be guesswork. â€œWe will have to wait and watch,â€ he said.
Speaking to CNBC-TV18 Saugata Gupta, MD & CEO OF Marico explained the reasons behind the lower-than-estimated volume growth this quarter.
For the FMCG sector rural demand is yet to pick up and a lackluster volume growth is expected in this space this quarter, says Anand Mour, FMCG Analyst at ICICI Securities.
"Recovery on consumption will happen with seventh Pay Commission and One Rank One Pension (OROP) being implemented, which will trigger demand and bring the company more volumes," says Saugata Gupta, MD and CEO of Marico.
It is best to take a view on turnaround in demand conditions only around September by which time it will be clear if monsoons have panned out as expected, says Saugata Gupta, MD & CEO of Marico.
Good monsoon and low food inflation will aid the rural and urban consumption story in the second half of this fiscal year, says Saugata Gupta, MD & CEO, Marico.
According to Saugata Gupta, MD & CEO, Marico raw material prices are likely to remains soft for couple more quarters, which the company would like to to pass on in terms of pricing.
Marico Chairman Harsh Mariwala says he expects Goods and Services Tax (GST) Bill to come through in March 2017 as many issues are yet to be resolved.
Harsh Mariwala, chairman and managing director, Marico Kaya says the company has had a subdued quarter but says the topline may not grow significantly, but the bottomline will see some growth in the upcoming quarters.
CNBC-TV18's Farah Bookwala caught up with Saugata Gupta, CEO & MD, Marico, here is a slice of that exclusive conversation.