Marico (BOM:531642)

QUOTE AND NEWS
The Economic Times  Aug 13  Comment 
Kaya Limited, the skin care maker from the Marico group will be listed on the stock exchanges on August 14 after the scheme of arrangement with Marico Kaya Enterprises.
The Hindu Business Line  Aug 7  Comment 
Blended oil battles with olive oil at the top end and ‘base’ brands at the bottom
The Hindu Business Line  Aug 5  Comment 
FMCG company Marico has reported a 28 per cent increase in consolidated net profit at ₹238 crore for the first quarter ended June 30. Revenue from operations during the quarter inc...
The Economic Times  Jul 30  Comment 
This week, Marico’s marketing head Sameer Satpathy quit after 13 years with the company.
The Times of India  Jul 27  Comment 
Marico has announced that Anuradha Aggarwal will be the chief marketing officer with effect from August 24, 2015, following the resignation by the current incumbent, Sameer Satpathy.
The Economic Times  Jun 25  Comment 
'Marico Ltd. is a 'BUY' call with a target of Rs 480 and a stop loss of Rs 453'
The Hindu Business Line  Jun 22  Comment 
Stocks linked to rural economy today rose on hopes progress in four-month monsoon season will boost sales. Marico Ltd gained 1.1 per cent, tractor maker Escorts jumped 2.2...
The Economic Times  Jun 8  Comment 
'Marico is a ‘BUY’ call with a target of Rs 465 and a stop loss of Rs 430'
The Hindu Business Line  Jun 1  Comment 
All the brands at Marico should have a purpose, and the purpose is more than just selling products, says Saugata Gupta, Managing Director and CEO. The fast-moving consumer goods (FMC...
The Economic Times  May 28  Comment 
With spotlight on acquiring the best of talent to strengthen tech competencies, cos like SAP, Snapdeal and Marico are aggressively hiring techies.




 

Marico is one of the leading Indian groups in consumer products and services in the beauty and wellness space. It has products and services in hair care, skin care and healthy foods. Marico's brands and their extensions occupy leadership positions with significant market shares in all categories. The company is present in the skin care services segment through Kaya skin care clinics (85 clinics) in India and the UAE. Marico's branded products are also present in Bangladesh, other South Asian Association for Regional Co-operation (SAARC) countries and the Middle East. Marico has been growing both organically and inorganically. It acquired ‘Nihar’, ‘Oil of Malabar’ and 'Manjal' herbal soap brand in India. It acquired a clutch of brands namely 'Camelia', 'Aromatic' and 'Magnolia' in Bangladesh and ‘Fiancee’ and ‘Haircode’ in Egypt. The company sold the Sundari business and Sil Brand.


Marico reported a strong 25% YoY growth in the consolidated topline for FY09 led by the 22% YoY growth in consumer product business, 43% YoY growth in international business and 57% YoY growth in Kaya. The operating margins were at 13% and the company reported a 12% YoY growth in net profits.


Marico’s business model is based on focused growth across all its brands and territories driven by continuously improving the value proposition to consumers, market expansion and widening its retail reach. It has identified new engines of growth and is also focusing on high margin products. It continues to improve its market share across product categories and is also doing well in the international business. The management’s uncommon thinking of transforming Marico from an oil company to a health and wellness firm is paying off well.


Consolidated picture
(Rs m) 4QFY08 4QFY09 Change FY08 FY09 Change
Net sales 4,659 5,612 20.50% 19,050 23,884 25.40%
Expenditure 4,203 4,879 16.10% 16,588 20,864 25.80%
Operating profit (EBDITA) 456 732 60.70% 2,463 3,020 22.60%
EBDITA margin (%) 9.80% 13.10% 12.90% 12.60%
Other income 52 80 53.70% 96 142 48.80%
Interest 87 113 29.90% 305 357 17.10%
Depreciation 79 104 31.90% 307 358 16.50%
Profit before tax 341 594 74.20% 1,946 2,447 25.80%
Extraordinary items 106 (150) 106 (150)
Tax 39 1 (97.70%) 360 409 13.80%
Profit after tax/(loss) 408 444 8.60% 1,692 1,887 11.50%
Minority interest 1 (1)
Net profit after tax/(loss) 408 444 8.60% 1,691 1,888 11.70%
Net profit margin (%) 8.80% 7.90% 8.90% 7.90%
No. of shares (m) 609 609 609 609
Diluted earnings per share (Rs)* 3.1
Price to earnings ratio (x)* 21.9
* 12 month trailing earnings



Segment Revenue
Rs m 4QFY08 4QFY09 Change FY08 FY09 Change
FMCG 4,337 5,163 19.10% 17,938 22,201 23.80%
% of total revenue 93.10% 92.00% 94.20% 93.00%
Others 322 448 39.20% 1,113 1,683 51.20%
% of total revenue 6.90% 8.00% 5.80% 7.00%
Total 4,659 5,612 20.50% 19,050 23,884 25.40%
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