Marico - As Expected, Q2 Sales To Be Healthy; Margins To Remain Under Pressure: Nirmal Bang
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Nirmal Bang Report
As per an update released by Marico Ltd. on October 05, 2021, the fast moving consumer good sector witnessed improving demand trends in Q2 FY22 with mobility increasing on account of lower Covid-19 infections and accelerated vaccination drive.
Discretionary categories and out-of-home consumption also visibly picked-up.
For Marico, the domestic business (~77% of overall revenue) has recorded growth in low twenties, with volume growth close to double-digits on a two year compound annual growth rate basis.
International business also posted double-digit constant currency growth as the company witnessed positive trends in all markets, except Vietnam (where a large part of the portfolio is discretionary).
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