Marico Share price: Firing on all cylinders II IDBI Capital says accumulate with target of Rs 435
Marico’s Q3 FY21 result was in line with estimates. Strong recovery is witnessed across all categories (essential and discretionary). Food portfolio grew fastest (+74%YoY) followed by VAHO (+21%YoY) and Saffola (+17%YoY). Parachute reported volume growth of 8% YoY, ahead of the company’s medium term aspiration of 5-7%. Traditional trade and e-com continued to outperform while modern trade reached pre-Covid level.
Revenue from rural India grew faster than urban India. Input cost remained largely inflationary. Marico’s new launches of Honey and Arogyam Chyawan Amrut are tracking well: Reuters