Marico shares surge 9 percent following strong March quarter results



News24

LAST UPDATED: May 3, 2021, 1:45 p.m.

New Delhi (Anish Yande): Shares of Marico rose by 9 percent on Monday’s trading session. The shares of Marico grew following the announcement of its results for the quarter ended March 2021.

Marico’s share opened at Rs 420 per share from its previous close of Rs 411.45 per share on Friday. The shares of the FMCG company rose to an intraday high of Rs 454 per share. Marico shares grew to a new 52-week high of Rs 454 per share. The market cap of the pharma firm is Rs 57,452 crores. 

Marico March quarter 2021 results:

Marico reported a net profit of Rs 199 crore in the March quarter of FY20. The net profit of the FMCG major grew to Rs 227 crore in the quarter ended March 31, 2021. The net profit of Marico rose to a 12.89 percent year-on-year basis. 

Marico’s revenue from operations was at Rs 1,496 crore in Q4FY20. The company’s revenue from operations rose to Rs 2,012 crore in the quarter ended March 2021. The operational revenue of Marico increased by 34.5 percent YoY. 

The operating profit of the FMCG company rose to Rs 319 crore, at an increase of 13.1 percent in the March 2021 quarter. Operating profit margins fell by 300 basis points (bps) to 15.9 percent in the quarter.

Marico EBITDA rises by 10.83%:

Earnings before interest, taxes, depreciation and amortization rose to Rs 348 crores in the quarter ended March 2021 from Rs 314 crore in March 2020 quarter. The EBITDA rose by 10.83% on a year-on-year basis. 

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The EBITDA margin declined by 300 bps from 18.9 percent to 15.9 percent in the March 2021 quarter.

The hair oils segment of Marico rose by 22 percent in volumes with key brands registering double-digit growth. The Personal Care segment declined slightly in Q4FY21. The volumes of Parachute Rigids grew by 29 percent.  The cooking oil brand Saffola also continued to grow.

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