Marico is buzzing loud and clear today as the market seems enthused with its Q4 performance snapshot.
In a report released yesterday after market closure, Marico said that its operating margin is expected to improve moderately during the quarter as pressure from input costs eased and operating leverage benefits also kicked in.
It stated that Parachute Rigids continued to meet expectations. Saffola Edible Oils responded very well to focused marketing initiatives during the quarter, however Marico preferred to stay cautiously optimistic in the near term.
Value Added Hair Oils, on the other hand, had a weak quarter. Overall, the domestic business delivered volume growth in line with the near term outlook.
The International business had a reasonable quarter with the key markets of Bangladesh and Vietnam faring well, while other markets were a bit subdued.
The market has reacted positively to this news, with the stock price rising almost 4% to Rs.358.50. It has outperformed the sector by 2.88%.