Marico - Strong Demand Revival Across Categories In Q3: Dolat Capital
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Dolat Capital Report
Marico Ltd.’s Q3 FY21 revenues and Ebitda exceed, but adjusted profit after tax came in line with our estimates. India business posted 18% revenue growth with 15% volume increase.
Value added hair oil reported 21% value and volume growth - double digit volume growth after ten consecutive quarters.
Sustainability of double digit growth would be key for margin performance, going ahead.
Saffola continues to outperform with 26/17% value/volume growth.
Consumer up-stocking helped the brand to post better growth during the quarter
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