Marico indicates cautious near term but stable demand in Q4
India’s leading consumer product company Marico updated it fourth quarter operating performance. The company’s rural demand grew at a higher pace compared to the urban region.
In the last quarter of FY19, the company witnessed stable demand. The company’s strong brand presence has been a reason for demand growth. Rural demand grew ahead of urban in the traditional channels. Parachute Rigids continued to perform good. While the Saffola Edible Oils has responded very well to focused marketing initiatives during the quarter. However, the company intended to be cautious in the near term.
On the other hand, Hair Oils segment, had a weak quarter. Overall, the domestic business delivered volume growth in line with the near term outlook. International business registered tepid performance. Though, the export market saw subdued demand, the company's key markets Bangladesh and Vietnam fared well.
Marico launched new range of products such as face cream, face wash, micellar water and face wipes in the skin care segment. The company also expanded its range of food products under Saffola FITTIFY Gourmet with the launch of a power breakfast range.
At 3:04 hours, the stock traded at Rs. 355.05 per share, up by 2.70 per cent on BSE. While Sensex showed losses of 93 points at 38,964.