Marico - Growth Momentum Resilient; Input Cost Pressure To Subside But After Q1: Nirmal Bang
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Nirmal Bang Report
As per an update released by Marico Ltd., the sector continued to exhibit sustained demand momentum in the first three weeks of Q1 FY22 as was seen in the last month of Q4 FY21, after which the resurgence of Covid-19 cases led to re-emergence of restrictions and lockdown-like curbs in India.
Overall demand started improving from early June 2021 as Covid-19 positivity rates dropped progressively.
For the company, the domestic business (75% plus of overall revenue) has recorded a very strong double-digit volume growth, leading to a 30% plus revenue growth in Q1 FY22.
International business also posted constant currency growth of more than 20% on the back of sustained momentum in Bangladesh and recovery across other markets.
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