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% |
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| Diluted EPS (Rs) | ₹ 2.34 | ₹ 1.95 |
| ₹ 2.53 |
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| OPM | 18.75% | 16.80% |
| 19.35% |
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| Net Margins | 13.48% | 11.61% |
| 13.28% |
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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%.