Marico's domestic biz reports modest volume rise in Q1; margins improve

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Marico's domestic biz reports modest volume rise in Q1; margins improve - Business Standard

Quick Summary:

Fast-moving consumer goods maker Marico on Friday said its domestic business posted a "modest uptick" in volume growth in the first quarter on a sequential basis and expects gross margin to expand year on year.

The company recorded volume growth post adjustments in distributor stock levels and a certain degree of wholesale channel destocking to ensure smoother direct reach expansion, said Marico in its quarterly update for the first quarter.

Key brands such as "Parachute Coconut Oil posted low single-digit volume growth in this quarter, but is likely to pick up visibly through the rest of the year given the consistently healthy trends in offtake growth", said Marico.