IDBI Capital: Marico Q2 Review - Strong Recovery Across All Segments
A worker organises bottles of Marico Ltd. coconut hair oil products at a department store. (Photographer: Prashanth Vishwanathan/Bloomberg News) 

IDBI Capital: Marico Q2 Review - Strong Recovery Across All Segments

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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.

IDBI Capital Report

Marico Ltd.’s Q2 FY21 result was in line with our estimates. Strong recovery witnessed across all categories (essential and discretionary).

Food portfolio grew fastest (up 55%YoY) followed by Saffola (up 20%YoY) and Coconut Oil (up 10%YoY).

Positively, value added hair oils returned back to growth trajectory after three consecutive quarter of decline.

Traditional trade and e-commerce continued to outperform. Revenue from rural India grew faster than urban India.

Input cost remained largely inflationary and is likely to remain-so up-till Q3 FY21.

Click on the attachment to read the full report:

IDBI Capital Marico Q2FY21 Result Update.pdf

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