Marico Ltd Q4FY23 PAT up 20.3% yoy at Rs302 crore powered ahead by the international business

Marico Ltd reported 3.66% growth in total revenues for the March 2023 quarter on consolidated basis at Rs2,240cr. On a sequential basis, the revenues were lower by -9.31%. For Q4FY23, the domestic business saw volume growth of 5% yoy while the international business saw constant currency growth of 16% yoy. This led to consolidated revenue growth of 3.66% for the quarter.

The consolidated EBITDA growth stood at 14% for the quarter on yoy basis while the EBITDA margins stood at 17.5%. Interestingly, in the fourth quarter, nearly 90% of the products either held market share or gained market share in its niche segments. Among the key product lines of Marico, Parachute Coconut oil saw volume growth of 9% and revenue growth of 3%. Saffola saw lower revenues while Nihar saw 13% growth in value.

Financial highlights for Mar-23 compared yoy and sequentially

 Marico Ltd    

Rs in Crore

Mar-23

Mar-22

YOY

Dec-22

QOQ

Total Income (Rs cr)

₹ 2,240

₹ 2,161

3.66%

₹ 2,470

-9.31%

Operating Profit (Rs cr)

₹ 420

₹ 363

15.70%

₹ 478

-12.13%

Net Profit (Rs cr)

₹ 302

₹ 251

20.32%

₹ 328

-7.93%

 

 

 

 

 

 

Diluted EPS (Rs)

₹ 2.34

₹ 1.95

 

₹ 2.53

 

OPM

18.75%

16.80%

 

19.35%

 

Net Margins

13.48%

11.61%

 

13.28%

 

 

Marico also made strong forays in the premium personal care products. Livon Serums and the Set Wet hair styling portfolio saw 40% value growth in Fy23 overall. But the big story was on the international business with 13% constant currency growth (CCG) in FY23. Between Fy22 and FY23, the gross margins improved from 42.9% to 45.2%.

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