On consolidated basis
Quarter ended December 2024 compared with Quarter ended December 2023.
Net sales (including other operating income) of Marico has increased 15.36% to Rs 2794 crore. Operating profit margin has declined from 21.18% to 19.08%, leading to 3.90% rise in operating profit to Rs 533.00 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 38.12% to 44.07%. Purchase of finished goods cost fell from 9.74% to 8.42%. Employee cost decreased from 7.93% to 7.11%. Other expenses fell from 22.67% to 22.09%. Selling and administration expenses fell from 10.33% to 10.07%. Other income fell 2.33% to Rs 42 crore. PBIDT rose 3.42% to Rs 575 crore. Provision for interest fell 31.58% to Rs 13 crore. PBDT rose 4.66% to Rs 562 crore. Provision for depreciation rose 4.76% to Rs 44 crore. Profit before tax grew 4.65% to Rs 518.00 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 112 crore, compared to Rs 109 crore. Effective tax rate was 21.62% compared to 22.02%. Minority interest increased 133.33% to Rs 7.00 crore. Net profit attributable to owners of the company increased 4.18% to Rs 399.00 crore. Promoters’ stake was 59.11% as of 31 December 2024 ,compared to 59.39% as of 31 December 2023 . Promoters pledged stake was 0.13% as of 31 December 2024 ,compared to 0.13% as of 31 December 2023 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Marico has increased 9.84% to Rs 8101 crore. Operating profit margin has declined from 21.48% to 20.75%, leading to 6.12% rise in operating profit to Rs 1,681.00 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 40.77% to 42.31%. Purchase of finished goods cost fell from 8.59% to 8.46%. Employee cost decreased from 7.56% to 7.45%. Other expenses rose from 21.57% to 21.68%. Selling and administration expenses fell from 9.86% to 9.84%. Other income rose 26.77% to Rs 161 crore. PBIDT rose 7.66% to Rs 1842 crore. Provision for interest fell 26.79% to Rs 41 crore. PBDT rose 8.82% to Rs 1801 crore. Provision for depreciation rose 7.69% to Rs 126 crore. Profit before tax grew 8.91% to Rs 1,675.00 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 362 crore, compared to Rs 356 crore. Effective tax rate was 21.61% compared to 23.15%.Minority interest increased 42.11% to Rs 27.00 crore. Net profit attributable to owners of the company increased 10.58% to Rs 1,286.00 crore. Promoters’ stake was 59.11% as of 31 December 2024 ,compared to 59.39% as of 31 December 2023 . Promoters pledged stake was 0.13% as of 31 December 2024 ,compared to 0.13% as of 31 December 2023 .
Full year results analysis.
Net sales (including other operating income) of Marico has declined 1.14% to Rs 9653 crore. Sales of India segment has gone down 2.98% to Rs 7,132.00 crore (accounting for 73.88% of total sales). Sales of International segment has gone up 4.48% to Rs 2,521.00 crore (accounting for 26.12% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 13.05% to Rs 2,157.00 crore. PBIT of India segment rose 10.92% to Rs 1,523.00 crore (accounting for 70.61% of total PBIT). PBIT of International segment rose 18.50% to Rs 634.00 crore (accounting for 29.39% of total PBIT). PBIT margin of India segment rose from 18.68% to 21.35%. PBIT margin of International segment rose from 22.17% to 25.15%. Overall PBIT margin rose from 19.54% to 22.35%. Operating profit margin has jumped from 18.54% to 20.99%, leading to 11.93% rise in operating profit to Rs 2,026.00 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 48.41% to 41.06%. Purchase of finished goods cost rose from 5.63% to 7.83%. Employee cost increased from 6.80% to 7.74%. Other expenses rose from 20.31% to 22.25%. Selling and administration expenses rose from 8.77% to 9.92%. Other income fell 1.39% to Rs 142 crore. PBIDT rose 10.95% to Rs 2168 crore. Provision for interest rose 30.36% to Rs 73 crore. Loan funds declined from Rs 608.00 crore as of 31 March 2023 to Rs 528.00 crore as of 31 March 2024. Inventories rose to Rs 1,336.00 crore as of 31 March 2024 from Rs 1,225.00 crore as of 31 March 2023. Sundry debtors were higher at Rs 1,069.00 crore as of 31 March 2024 compared to Rs 1,015.00 crore as of 31 March 2023. Cash and bank balance rose to Rs 943.00 crore as of 31 March 2024 from Rs 756.00 crore as of 31 March 2023. Investments declined from Rs 1,096.00 crore as of 31 March 2023 to Rs 602.00 crore as of 31 March 2024. PBDT rose 10.38% to Rs 2095 crore. Provision for depreciation rose 1.94% to Rs 158 crore. Fixed assets increased to Rs 1,905.00 crore as of 31 March 2024 from Rs 1,451.00 crore as of 31 March 2023. Intangible assets increased from Rs 862.00 crore to Rs 863.00 crore. Profit before tax grew 11.13% to Rs 1,937.00 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 435 crore, compared to Rs 421 crore. Effective tax rate was 22.46% compared to 24.15%. Minority interest increased 5% to Rs 21.00 crore. Net profit attributable to owners of the company increased 13.75% to Rs 1,481.00 crore. Equity capital stood at Rs 129.00 crore as of 31 March 2024 to Rs 129.00 crore as of 31 March 2023. Per share face Value remained same at Rs 1.00. Promoters’ stake was 59.35% as of 31 March 2024 ,compared to 59.42% as of 31 March 2023 . Promoters pledged stake was 0.13% as of 31 March 2024 ,compared to 0.13% as of 31 March 2023 . Cash flow from operating activities increased to Rs 1,436.00 crore for year ended March 2024 from Rs 1,419.00 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 153.00 crore, compared to Rs 182.00 crore during the year ended March 2023. Other Highlights
The board declared an interim dividend for
the Financial Year 2024-25 of Rs 3.50 per equity share of Re 1 each. Record
date for the purpose in 7th Feb, 2025.
In
Q3 FY25, Domestic Volume increased by 6% YoY and International up 16% in Constant
Currency compared to Q3 FY24.
More than 90% of the domestic business
either gained or sustained market share.
In
Q3 FY25, demand trends in India was stable with rural growing at 2x the pace of
urban on YoY basis.
In
Q3 FY25, Parachute Coconut Oil witnessed volume growth of 3% YoY, Saffola
Franchise witnessed volume growth of low single digit, and hair oil segment witnessed
de-growth of 2% YoY in value terms.
In
Q3 FY25, in international business Bangladesh business increased by 20% YoY, MENA
up 35%, South Africa up 17% and Vietnam went down 1% on YoY basis.
Management Comments :
Saugata Gupta, MD & CEO commented, “We
have delivered a considerably resilient performance in this quarter with the
highest underlying volume and revenue growth in 13 quarters. The core domestic
portfolios have held firm amidst inflationary conditions and witnessed market
share and penetration gains, with the accelerated scale-up in Foods and
Digital-first brands visibly advancing the diversification agenda. The robust
momentum in the overseas business, despite challenging operating conditions in
select markets, reinforces our medium-term growth algorithm. While the
sharper-than-anticipated rise in input costs will have some transient impact on
margins in the near term, we remain biased towards driving top quartile volume
growth and doubledigit revenue growth in the near and medium term.”
| Marico : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202412 | 202312 | Var.(%) | 202412 | 202312 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 2,794.00 | 2,422.00 | 15.36 | 8,101.00 | 7,375.00 | 9.84 | 9,653.00 | 9,764.00 | -1.14 | | OPM (%) | 19.08 | 21.18 | -210 bps | 20.75 | 21.48 | -73 bps | 20.99 | 18.54 | 245 bps | | OP | 533.00 | 513.00 | 3.90 | 1,681.00 | 1,584.00 | 6.12 | 2,026.00 | 1,810.00 | 11.93 | | Other Inc. | 42.00 | 43.00 | -2.33 | 161.00 | 127.00 | 26.77 | 142.00 | 144.00 | -1.39 | | PBIDT | 575.00 | 556.00 | 3.42 | 1,842.00 | 1,711.00 | 7.66 | 2,168.00 | 1,954.00 | 10.95 | | Interest | 13.00 | 19.00 | -31.58 | 41.00 | 56.00 | -26.79 | 73.00 | 56.00 | 30.36 | | PBDT | 562.00 | 537.00 | 4.66 | 1,801.00 | 1,655.00 | 8.82 | 2,095.00 | 1,898.00 | 10.38 | | Depreciation | 44 | 42 | 4.76 | 126 | 117 | 7.69 | 158 | 155 | 1.94 | | PBT | 518.00 | 495.00 | 4.65 | 1675 | 1538 | 8.91 | 1937 | 1743 | 11.13 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 518 | 495 | 4.65 | 1675 | 1538 | 8.91 | 1937 | 1743 | 11.13 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 518 | 495 | 4.65 | 1675 | 1538 | 8.91 | 1937 | 1743 | 11.13 | | Taxation | 112 | 109 | 2.75 | 362 | 356 | 1.69 | 435 | 421 | 3.33 | | PAT | 406 | 386 | 5.18 | 1313 | 1182 | 11.08 | 1502 | 1322 | 13.62 | | Minority Interest (MI) | 7 | 3 | 133.33 | 27 | 19 | 42.11 | 21 | 20 | 5.00 | | Net profit | 399 | 383 | 4.18 | 1286 | 1163 | 10.58 | 1481 | 1302 | 13.75 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 399 | 383 | 4.18 | 1286 | 1163 | 10.58 | 1481 | 1302 | 13.75 | | EPS (Rs)* | 3.08 | 2.96 | 4.18 | 9.93 | 8.98 | 10.58 | 11.43 | 10.05 | 13.75 | | | * EPS is on current equity of Rs 129.52 crore, Face value of Rs 1, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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