Near-term growth concerns, further price cuts to cap returns for Marico

Further price cuts, higher advertising costs to weigh on margins

Marico expands plant-based protein portfolio with Saffola Soya Bhurji

The company expects to deliver a mid-single digit volume growth in the second half of FY23 on the back of a low base of rural growth

Ram Prasad Sahu
The Marico stock slipped 6.4 per cent in trade on weak September quarter results for the 2022-23 financial year (Q2FY23), impact of further price cuts on trade and muted near-term growth prospects. Though brokerages are expecting some softness in performance, there have not been aggressive downward revisions in earnings after the results.

The sub-par performance in the quarter was on account of lower demand and downtrading in hair and personal care category in the rural segment. Even as overall revenues were up 3.2 per cent, domestic business growth was limited to one per cent while the international business saw an 11 per cent growth on a constant currency basis.

The Parachute business witnessed an 11 per cent fall in sales

First Published: Nov 08 2022 | 7:55 PM IST

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