Marico Reports Q4 Growth, Eyes Expansion in Digital and Food Segments

8 Apr 2024 , 12:44 PM

Marico shares saw a nearly 3% surge in intraday trading on Friday, reaching ₹506.15, a 2.6% increase from the previous day’s close. Whereas, at the time of writing, the shares were trading at ₹519.05 which is a 1.87% gain than the previous close.

The company provided a business outlook update for Q4 on April 5, noting consistent FMCG demand sentiment and sequential volume growth in the domestic business.

Parachute Coconut Oil witnessed low single-digit volume growth due to a shift from loose to branded conversions, while Saffola Oils achieved mid-single-digit volume growth with stabilized pricing.

Marico reported a modest increase in consolidated revenue in Q4, returning to positive territory after three quarters, with expectations for further growth, particularly in domestic revenue.

Food sales maintained consistent growth, reaching four times the scale observed in FY20, while digital-first brands sustained robust growth.

Marico aims to enhance profitability in the general trade channel and expand its direct reach footprint in urban and rural outlets.

The company is committed to growth in urban-centric and premium segments through organized retail and e-commerce, while expanding its food and digital-first brands to align with medium-term strategic objectives.

Marico shares have fallen by 5.22% in the last six months but gained over 6.28% in the last year.

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