Marico Ltd. Reports Slight Volume Growth in Q4 FY2023-24, International Business Clocks Double-Digit Growth

Marico Ltd. released a quarterly update for the period ended March 31, 2024. The company reported consistent demand sentiment in the FMCG sector, with a slight uptick in volume growth for the domestic business. Parachute Coconut Oil and Saffola Oils posted low and mid-single-digit growth respectively. Value Added Hair Oils experienced a decline. Foods and Digital-first brands continued their steady growth. copra prices rose according to forecasts, leading to expected strong gross margin expansion. The International business regained double-digit constant currency growth. Consolidated revenue grew in low single digits, and Marico expects domestic revenue growth to outpace volume growth in the future quarters.