FMCG agency Marico Ltd on Friday reported a 14.07 per cent enhance in its consolidated internet revenue at Rs 227 crore for the March 2021 quarter, helped by a double-digit quantity progress within the home market.
The firm had posted a internet revenue of Rs 199 crore within the January-March quarter a 12 months in the past, Marico mentioned in a BSE submitting.
Revenue from operations of the Mumbai-based agency was up 34.49 per cent at Rs 2,012 crore in the course of the quarter beneath evaluate as towards Rs 1,496 crore within the corresponding interval of the earlier 12 months.
“In Q4 FY21, revenue from operations grew by 34 per cent YoY to Rs 2,012 crore (USD 276 million) backed by robust volume growth of 25 per cent in the domestic business and constant currency growth of 23 per cent in the international business,” Marico mentioned in a put up incomes assertion.
Its complete bills have been at Rs 1,739 crore in the course of the March 2021 quarter, up 37.47 per cent as towards Rs 1,265 crore of This fall/FY2019-20.
During the interval, home gross sales have been up 37.35 per cent to Rs 1,574 crore as towards Rs 1,146 crore from a 12 months in the past.
However, “operating margin was lower YoY at 17.6 per cent in Q4 FY21 vs 22.8 per cent in Q4 FY20, owing to the input cost push, which was partly offset by pricing interventions in key portfolios and aggressive cost control initiatives,” it mentioned
Over the home gross sales, Marico mentioned rural markets continued to prepared the ground in conventional commerce, rising at 1.8x of city gross sales.
“eCom and CSD also fared well, while Modern Trade dipped due to pantry loading in the base quarter,” it mentioned.
Revenue from the worldwide enterprise was up 25.14 per cent at Rs 438 crore as towards Rs 350 crore a 12 months earlier.
“In the International business, Bangladesh clocked 20 per cent constant currency growth. South-East Asia also reverted to positive territory with 13 per cent constant currency growth. MENA and South Africa also gained on a low base,” it mentioned.
For the fiscal 12 months 2020-21, Marico’s internet revenue was up 14.96 per cent at Rs 1,199 crore. It was Rs 1,043 crore within the earlier 12 months.
Its income from operations for the complete fiscal was up 10.02 per cent at Rs 8,048 crore. It was Rs 7,315 crore in FY 2019-20.
Over the outlook, Marico mentioned it holds its medium-term aspiration of delivering 8-10 per cent home quantity progress and 13-15 per cent income progress.
“While the key portfolios of both the India and International businesses have rebounded strongly as the first COVID wave subsided, the near term impact of the ongoing wave is difficult to foresee at this time, particularly on the domestic business. We expect a clearer picture to emerge in May,” it mentioned.
As the state of affairs evolves, Marico will proceed to judiciously make investments behind model constructing to help market progress initiatives in core classes and growth into related adjoining classes.
“The Company would be comfortable maintaining its threshold operating margin of 19 per cent plus over the medium term. However, operating margins will be lower in the immediate near term, given the unprecedented input cost pressure and COVID-related disruption, especially in Q1,” it mentioned.
Shares of Marico Ltd on Friday closed at Rs 410.35 apiece, up 0.10 per cent from the earlier shut on the BSE.
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