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business | IST

Marico on track to hit Rs 450-500 crore revenue in food biz this year; expects 19-20% margin by H2

Fast moving consumer goods (FMCG) stocks have been on a tear of late. Marico is one such name, it has seen an 8 percent rise in the last two weeks and near 40 percent upmove this year. Saugata Gupta, MD and CEO, Marico, discussed the demand trends and the outlook for the company.

Fast moving consumer goods (FMCG) stocks have been on a tear of late. Marico is one such name, it has seen an 8 percent rise in the last two weeks and near 40 percent upmove this year. Saugata Gupta, MD and CEO, Marico, discussed the demand trends and the outlook for the company.
Gupta said, “Demand continues to be stable. Therefore, 8-10 percent volume growth for the balance year – especially given the fact that we are going to lap up 17 percent and 25 percent volume growth in Q3 and Q4 respectively, it is very much possible.”
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Food and premium personal care digital brands are the two big drivers of growth for the company.
“Food continues to do well. The company’s mission is to hit Rs 450-500 crore of revenue this year and Rs 850-1,000 crore by 2024,” he mentioned.
He further said, “Food is going on track. We are now going to accelerate our premiumisation in personal care and digital brands.”
He expects margin will recover to 19-20 percent by H2.
“We will continue to maintain the leadership position. There is significant headroom for growth. As far as Parachute is concerned, our overall medium-term aspiration is to grow 5-7 percent and we are aligned with it,” Gupta shared.
The company will continue to grow its core business. “Growing the core means that 90 percent of our portfolio continues to gain market share. We have been gaining market share in all categories and our market share gain has been the highest among all players,” he said.
For the full interview, watch the accompanying video.