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Marico's revenue in Q1 dips in low-single-digit, expects gross margins to expand ahead; should you buy this FMCG stock?
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₹538.85 apiece, up by ₹12.25 or 2.33% on Wednesday. After the Q1 update, Amnish Aggarwal – Head of Research, Prabhudas Lilladher on Marico said, "Urban markets and premium categories continue to see stable demand trends; recovery in rural markets is delayed by another quarter.
1Q saw a one-time trade impact in edible oils as a result of a sharp fall in vegetable oil prices." He added, "With key input costs stable, the company has passed through benefits in edible oil to consumers to shore up volumes. Moderating inflation, hike in MSPs, easing liquidity pressures, and forecast of a near-normal monsoon fuels hope of gradual rural demand recovery over FY24." Currently, Marico's stock is trading at 41.2x on FY25 earnings.
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