FMCG major Marico on Monday filed an update with the stock exchanges on the operating performance and demand trends witnessed during the quarter ended December 31, 2021.

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Following are the key takeaways:

ON CONSUMPTION ENVIRONMENT

Slowing consumption patterns affected the sector as a whole

Mainly due to continuing inflation impacting overall disposable incomes

Rural demand was also sluggish

INDIA

Volumes flat due to weaker consumption sentiment and strong base

Q3FY21 saw volume growth of 15%

Revenue growth in the quarter was in double digits

We expect gross margin to improve sequentially, but remain lower YoY

Operating margin expected to be near the levels of Q2FY22 (17.5 percent)

INDIA SEGMENTS

Parachute Coconut Oil had a muted quarter on a high base

Value Added Hair Oils posted softer growth in value terms in the quarter

Saffola franchise grew in high teens in value terms, led by 20%+ growth in Foods

Premium Personal Care posted broad-based double-digit growth

INTERNATIONAL

High teen constant currency growth led by Bangladesh and Vietnam

Consolidated revenue growth in the quarter was in low teens

First Published:Jan 3, 2022 9:05 PM IST