Q1 2025 Marico Ltd Earnings Call Transcript
Key Points
- Marico Ltd (BOM:531642) reported a sequential uptick in domestic volume growth, driven by steady trends across most portfolios.
- More than 90% of the business either gained or sustained market share and penetration on a MAT basis.
- The company launched Phase 1 of project SETU, which has shown promising initial results with direct coverage expansion in urban and rural markets.
- Foods segment registered a robust 37% growth, with the core oats portfolio growing at over 20%.
- Premium personal care sustained its healthy growth trajectory, led by digital-first brands, with Beardo expected to hit double-digit EBITDA margin this year.
- Pricing growth turned flattish on a YoY basis, impacting overall revenue growth.
- Value-added hair oils segment has been sluggish, with volume declining in low single digits due to competitive pressures and stock adjustments.
- The Bangladesh business faces challenges due to the current on-ground situation, which could impact future performance.
- There is a need for further price hikes in the Parachute brand if copra prices rise, which could affect consumer demand.
- The company is experiencing elevated cool inflation and spatial distribution of rainfall, which are key factors to be monitored for future performance.
Ladies and gentlemen, good day and welcome to Marico Limited Q1 FY25 earnings conference call. We have with us the senior management of Marico represented by Mr. Saugata Gupta, MD and CEO; and Mr. Pawan Agrawal, CFO. (Operator Instructions) Please note that this conference is being recorded.
Before we get started, I would like to remind you that the Q&A session is only for institutional investors and analysts. And therefore if anybody else who is not an individual investor or analyst but would like to ask questions, please directly reach out to Marico's investor relations team.
I now hand the conference over to Mr. Saugata Gupta for his opening comments. Thank you and over to you, sir.
Yeah, hi. Good evening to all those who have joined the call and hope everyone is doing well. I would like to start with the narrative on the operating environment during the quarter, gone by after which I'll touch upon our performance and strategic objectives going
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