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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.
The research house expects HUL to stand out with earnings growth of 24 percent on strong margin expansion.
On an operating level, the EBITDA is seen at Rs 263 crore against Rs 253.1 crore while operating margin is seen at 16.6 percent against 17.5 percent.
Expectations were running low on account of pre-GST implementation adjustments in the quarter, and overall, the Nifty earnings have not resulted in any incremental negative surprise.
Analysts expect domestic volume growth at around 6-7 percent against 8.4 percent in corresponding quarter of last fiscal and negative 4 percent in previous quarter.
FMCG major Marico's third quarter consolidated profit is seen declining 2.2 percent year-on-year to Rs 193.5 crore and revenue may fall 5.4 percent to Rs 1,472 crore as domestic volume is expected to decline 5-6 percent.
Net Sales are expected to increase by 1.8 percent Q-o-Q (down 5.6 percent Y-o-Y) to Rs 1470 crore, according to HDFC Securities.
Speaking to CNBC-TV18 Saugata Gupta, MD & CEO OF Marico explained the reasons behind the lower-than-estimated volume growth this quarter.
FMCG major Marico's second quarter profit is seen rising 18 percent year-on-year to Rs 177.2 crore and revenue may increase 2.3 percent to Rs 1,519 crore, according to analysts polled by CNBC-TV18.
"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.
Analysts say sluggish revenue growth may be due to price cuts announced by the company. It reduced prices of Parachute oil by around 16-18 percent.
In an interview with CNBC-TV18, Varun Lohchab gave his analysis of HUL‘s first quarter earnings and shared his outlook on the FMCG industry in general.
Net Sales are expected to up 2.5 percent Y-o-Y to Rs 1825.6 crore, according to Axis Securities
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.
Analysts polled by CNBC-TV18 feel domestic business may see 6-7 percent growth while international business is likely to see 9-10 percent jump. However, growth may be at the cost of price cuts and promotions. Steep cuts of 9-25 percent were taken across stock keeping unit (SKUs).
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.
Analysts polled by CNBC-TV18 say price cuts may bear down on revenues while significant correction in input prices may be partially passed on to customers.
In an interview to CNBC-TV18 Saugata Gupta, MD & CEO of Marico spoke about Q2 earnings and the way ahead for the company.
Analysts see volume growth at 6-7 percent with 1 percent price/mix led growth and see some pick up in volumes for Safolla & Parachute sequentially.
Sumit Malhotra, MD of Bajaj Corp, says, Q2 volume growth is largely driven by Bajaj Almond Drops and Brahmi Amla. He says the company has over 60 percent market share in light hair oil segment.
In an interview with CNBC-TV18, Saugata Gupta, Managing Director & CEO of Marico said the volumes will improve with revival of urban consumption in coming quarters.
Revenue is seen rising 12.8 percent to Rs 1,830 crore compared to Rs 1,623 crore in the year-ago period, aided by 8 percent price hike and products mix led growth. The company hiked Parachute prices by 6 percent and Safola foods portfolio 10 percent.
Varun Lohchab of CIMB Equities maintains a reduce or sell rating on HUL with target price at Rs 750 per share on expensive valuations.
FMCG major Marico posted an 18 percent increase in its third quarter consolidated net profit year-on-year to Rs 160 crore on higher revenue growth. The bottomline and operational performance was ahead of expectations while topline met estimates.
