Marico Shares Surge on Q4 Growth

Marico Shares Surge on Q4 Growth/Marco

VoM News Desk | April 5, 2024 | 05:33 PM IST | Breaking News | Follow on Google News

Marico Shares Surge on Q4 Growth

Marico Shares Surge on Q4 Growth

Marico shares experienced a nearly 3% surge during Friday’s intraday trading, driven by a modest uptick in volume growth for the fourth quarter, with the stock trading at ₹506.15, marking a 2.6% increase from the previous day’s closing price.

Q4 Business Outlook Update

On April 5, Marico issued a business outlook update for the fourth quarter, stating that FMCG demand sentiment remained consistent throughout the quarter, with urban and rural consumption trends largely converging, as reported in an exchange filing.

Consolidated Revenue Growth and Strategic Outlook

Marico reported a modest increase in consolidated revenue for Q4, returning to positive territory after three consecutive quarters, driven by the gradual anniversary effect of pricing adjustments in crucial domestic segments. The company anticipates further revenue growth, with domestic revenue expected to surpass volume growth in upcoming quarters.

Steady Performance and Future Plans

Throughout the year, Marico’s food sales maintained consistent growth, reaching approximately four times the scale observed in FY20. Digital-first brands also sustained a robust growth trajectory, aligning with the company’s targeted portfolio diversification goals. Marico affirms its commitment to pursuing distinctive growth within urban-centric and premium segments via organized retail and e-commerce platforms, aiming to broaden its portfolio by expanding its food and digital-first brands while enhancing profitability metrics in alignment with its medium-term strategic objectives.

VoM News Desk

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