ICICI Securities: Marico’s Strong Q2 Performance Across Portfolio
Marico Ltd. health and beauty products are displayed on the shelf of a department store in Mumbai, India. ( photographer Prashanth Vishwanathan/Bloomberg)

ICICI Securities: Marico’s Strong Q2 Performance Across Portfolio

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Marico Ltd.’s Q2 volume growth of 11% was a sharp recovery driven by growth in 95% of portfolio.

Likely market share gains in Parachute, recovery in value-added hair oils and continued growth momentum in Saffola edible oils (more importantly, through increased penetration and retention) inspire confidence on sustained growth momentum.

We like its focus on prioritising market share over margins in the near-term (some input cost inflation seen).

Click on the attachment to read the full report:

ICICI Securities Marico Q2FY21 Results Update.pdf

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