Marico’s intent to diversify its portfolio can aid in the upward trajectory of the margin. Revenue contribution from high margin foods and premium personal care segment (including digital-first brands) is likely to touch 20% in FY24 from 15% in FY23.
Hindustan Unilever s volumes from its tea business were already low in the April-to-June quarter, now the resurgence of small and unorganised players might further impact their volumes, say analysts.