Marico’s Q4FY24 Quarter Results
- 10 May 2024
- Marico reported 7% quarter-on-quarter (QoQ) decrease in its consolidated revenues for the quarter ended March (Q4FY24). On a year-on-year (YoY) basis, it witnessed a de-growth of 0.6%.
- Its expenses for the quarter were down by 4% QoQ and 1% YoY.
- The net profit de-grew 17% QoQ and grew 5% YoY.
- The earnings per share (EPS) of Marico stood at 2.5 during Q4FY24.
Marico’s Financial Statements for Q4FY24:
| (Rs crores) | Q4FY23 | Q3FY24 | Q4FY24 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total income | 2,308 | 2,465 | 2,293 | -7.0% | -0.6% |
Total expenses | 1,907 | 1,970 | 1,894 | -4% | -1% |
Profit before tax | 401 | 495 | 399 | -19% | -0.5% |
Tax | 96 | 109 | 79 | -28% | -18% |
Profit after tax | 305 | 386 | 320 | -17% | 5% |
Earnings per share | 2.3 | 3.0 | 2.5 |
Marico’s Q4 FY24 Results Highlights:
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Revenue: There was a nearly 2% year-over-year (YoY) increase in consolidated revenue from operations, reaching ₹2,278 crore.
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Profit: Consolidated net profit witnessed a 5% jump YoY to ₹320 crore, though it dropped over 17% compared to the previous quarter (Q3FY24).
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Margins: The company's EBITDA margin improved significantly, reaching 19.4%, reflecting a 186 basis point increase YoY. This indicates improved profitability despite the slight increase in revenue.
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Volume Growth: The domestic business saw an underlying volume growth of 3%, while the international business grew 10% in constant currency terms.
Management Commentary:
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Management highlighted a generally positive macroeconomic climate in India, with stable trends in rural and urban markets.
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They emphasized their success in maintaining or gaining market share in 75% of their domestic business units while achieving market penetration growth across all categories.
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The expansion in gross margin (420 basis points) and EBITDA margin (186 basis points) reflects their focus on cost control and efficiency improvements.
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Management also expressed optimism regarding the future. They expect a good monsoon season in FY25, which can boost rural demand.
Data Source: BSE, Company announcements
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