Marico – Growth Continues But Input Cost Pressure Eating Into Margin: Nirmal Bang

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In Q4 FY21, the sector continued to exhibit improving demand conditions and Marico Ltd. saw a similar trend, with healthy momentum building up across its key portfolios.

The domestic business (76% up of company’s revenue) has recorded a very strong double-digit volume growth, with an even higher revenue growth.

International business also posted strong double-digit constant currency growth on the back of recovery across markets.

Overall operating margin performance for Q4 FY21 will be affected as pricing interventions in key portfolios won’t be enough to offset the continuous input cost headwinds.

At the bottom-line level, the company expects to deliver low double-digit growth in the quarter.

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Nirmal Bang Marico – Company Update -5 April 2021.pdf


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