Marico
PRO Only Highlights
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
Marico’s (CMP: Rs 546; Market capitalisation: Rs 70,555 crore) June 2021 quarter results were in line with expectations. The management feels gross margins have bottomed out in the June 2021 quarter and are likely to recover from the September 2021 quarter. June-quarter results In the domestic market, Marico saw a volume growth of 21 per cent and a revenue growth of 35 per cent year on year, while in international markets revenues, in constant currency, grew by 21 per cent and...