In its quarterly business update, Marico’s management sounded fairly confident as the company witnessed a faster-than-expected recovery in the consumer sentiment.

The Indian business saw a double-digit growth. Parachute business, which is about a third of their business, grew faster than their medium term aspirations of 5-7 percent. Saffola edible oil too saw continued growth momentum and delivered double-digit volume growth.

Value added hair oil business, which is a margin accretive business, was struggling but has now bounced back to double-digit growth. The food portfolio too continued to see exponential growth in-line with near-term aspirations.

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(Edited by : Bivekananda Biswas)