Volume growth buoys Marico; net up 21 pc
Marico has clocked a turnover of Rs 1,058 crore during Q3 FY12, a growth of about 29 per cent over Q3 FY11. Net profit was up 21 per cent
Marico has clocked a turnover of Rs 1,058 crore during Q3 FY12, a growth of about 29 per cent over Q3 FY11. A robust volume growth of about 16 per cent in the domestic consumer products business helped achieve this healthy revenue growth.
Profit after tax for Q3 FY12 was Rs 84 crore, a growth of about 21 per cent over Q3 FY11.
Turnover growth was witnessed across the company’s three business units. The Indian Consumer Products Business grew by 38 per cent in value and 16 per cent in volume terms. Marico’s International business posted a growth of 39 per cent after foreign exchange fluctuations and a business growth of 40 per cent, boosted by the acquisition of 85 per cent of International Consumer Products in Vietnam in February 2011. The Kaya business collections on Same Store basis grew by 15 per cent. Market shares continued to be healthy all across.
The Consumer Products Business in India (CPB) achieved a turnover of Rs 716 crore, a growth of about 38 per cent over Q3 FY12. The turnover growth reflected continued business momentum and a healthy volume growth of about 16 per cent over Q3 FY11.
Parachute, Marico’s flagship brand, recorded robust volume growth during the quarter. Parachute coconut oil in rigid packs, the focus part of its portfolio, grew around 13 per cent in volume as compared to Q3 FY11. Small packs and share gain because of relatively lower competitive intensity helped drive this growth.
The Saffola Oil franchise grew around 15 per cent in volume terms during Q3 FY12. During January 2012, the company initiated price increases in Saffola of about 8-9 per cent to compensate for the cost push.
During the quarter, all Marico’s hair oils brands recorded healthy growth. The company’s hair oils in rigid packs volumes grew around 20 per cent.
The recently introduced products such as Parachute Advansed Body Lotion, Parachute Advansed Ayurvedic Oil, Parachute Advansed Cooling Oil and Saffola Oats continue to gain traction.
During Q3 FY12, Kaya Skin Care Solutions achieved a turnover of Rs 75 crore. Kaya has been consciously trying to change its positioning from “cure” to “cure + care”, moving from expert solution provider for skincare problems to personal guide for total skin care. The new tagline ‘Love what you see’ is an expression of how consumers feel after a visit to Kaya. This re-branding will be rolled out across all Kaya Skin Clinics in India, product packaging and advertising, in a phased manner.
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