ICICI Direct: Marico’s Strong Growth Momentum Continue In Saffola, Foods
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ICICI Direct Report
Marico Ltd. reported a strong set of numbers with 11% domestic volume growth led by continued robust growth in Saffola.
Revenues increased 8.7% to Rs 1,989 crore with domestic, international business seeing growth of 8%, 12%, respectively.
Parachute brand grew 8% with volume increase of 10% supported by constant pricing despite copra prices rising sharply.
Saffola witnessed growth of 16% led by 20% volume growth with trend of consumption shifting from unbranded to healthier proposition brands.
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