Marico - Firing On All Cylinders In Q3: IDBI Capital 
A worker organises bottles of Marico Ltd. coconut hair oil products at a department store. (Photographer: Prashanth Vishwanathan/Bloomberg News) 

Marico - Firing On All Cylinders In Q3: IDBI Capital 

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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. Q3 FY21 result was in line with our estimates. Strong recovery is witnessed across all categories (essential and discretionary).

Food portfolio grew fastest (up 74%YoY) followed by value added hair oil (up 21%YoY) and Saffola (up 17%YoY).

Parachute reported volume growth of 8% YoY, ahead of the company’s medium term aspiration of 5-7%.

Traditional trade and e-commerce continued to outperform while modern trade reached pre-Covid-19 level. Revenue from rural India grew faster than urban India.

Click on the attachment to read the full report:

IDBI Capital Marico Q3FY21 Result Update.pdf

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