ICICI Securities: Marico’s Strong Q2 Performance Across Portfolio
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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).
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