Marico Limited’s Revenue from Operations grew by 31% YoY to Rs 2,525 crore (USD 346 million) with underlying volume growth of 21% in the domestic business and constant currency growth of 21% in the international business in Q1FY22 Results.
Marico’s India Business delivered volume growth of 21%. More than 90% of the company’s domestic portfolio gains market share, and there has been a 21% constant currency growth in Marico’s International Business.
Marico’s EBITDA margin has gone up 319 bps sequentially. The company’s Consolidated PAT growth of 8% on a like-for-like basis
Gross margin was down 759 bps YoY given the stark contrast in the cost of inputs consumed in the two quarters, as pricing interventions in the core portfolios could only partially alleviate the inflationary pressure. However, operating leverage benefits reduced the drop in EBITDA margin to 522 bps YoY, which stood 19.0% in Q1FY22. As a result, EBITDA was up 3% YoY, and recurring PAT was up 8% YoY. Reported PAT was down 7% due to exceptional gain in the base quarter.
Advertising & Sales Promotion grew by 27% YoY as the Company actively invested in its core franchises and recent Foods innovations while maintaining a low-key in discretionary categories.
The Company holds its medium-term aspiration of delivering 13-15% revenue growth on the back of 8-10% domestic volume growth and double-digit constant currency growth in the International business.