Marico, a leading FMCG company, reported a 4.9 percent increase in consolidated net profit to Rs 320 crore for the fourth quarter of the financial year 2023-24. This news has caused a stir in the market, with Marico shares closing 2.75% higher at Rs 531.05 on the BSE on Monday. Despite a 2% decline since the beginning of the year, the stock has seen a 7.58% increase over the past year, with a market cap of Rs 68,723 crore on the BSE.
During the year, Marico’s stock reached a low of Rs 486.75 on March 19, 2024, and a high of Rs 595 on October 3, 2023. In the latest quarter, the company saw a 1.69% increase in revenue to Rs 2,278 crore year-on-year.
The Earnings before Tax, Interest, Amortization, Depreciation (EBIDTA) for Q4 stood at Rs 442 crore, marking a 12.5% increase, with an EBDITA margin of 19.4% – up 190 basis points. On a standalone basis, the Profit after Tax (PAT) rose by 12% year-on-year to Rs 229 crore in Q4FY24, while standalone revenue fell to Rs 1,637 crore from Rs 1,702 crore in Q4FY23.
For the full financial year 2023-24, Marico reported a 16% year-on-year increase in net profit to Rs 1,502 crore, with revenue climbing 11.40% to Rs 9,795 crore. The company expressed confidence in the economic growth trajectory, highlighting that 75% of its domestic business either gained or sustained market share on a Moving Annual Total (MAT) basis, and 100% of the domestic business sustained or gained penetration on MAT basis.
DailyBubble believes that Marico’s consistent growth in profits and revenue reflect its strong position in the FMCG sector. The company’s ability to maintain or increase market share and penetration in the domestic business is commendable and bodes well for its future prospects. Investors may want to keep a close eye on Marico as it continues to navigate the evolving market landscape.