Marico trades flat ahead of results
Consumer goods company Marico was trading flat ahead of its Q2FY19 results to be announced today.
Reportedly, multiple brokerage houses have commented that the Mumbai-based company might witness some pressure on its margins mainly due to price inflation of raw materials. Volume growth is expected to be in the 5-8% range in the Parachute, Saffola and VAHO segments. What’s more, brokerage houses also expect its business to grow by 10-12% this quarter.
Incidentally, the company leads the coconut hair oil (Parachute) and premium edible oil (Saffola) categories. It has also entered the high growth categories, viz. value added hair oils (VAHO), body lotions, deodorant, hair serum and colours and breakfast cereals through brand extension and acquisitions.
Marico Ltd.’s share is currently trading at Rs319.40 down by Rs0.35 or 0.11% from its previous closing of Rs319.75 on the BSE.
The scrip opened at Rs324 and has touched a high and low of Rs325 and Rs317.95 respectively. So far 5,18,688 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs41,275.39cr.
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