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Marico, one of India s largest FMCG companies, has successfully diversified its product portfolio to reduce its reliance on its traditional brands, Parachute coconut oil and Saffola edible oil. The company has expanded into new categories such as food and D2C (direct-to-consumer) brands, including healthy snacks and personal care products. Marico s revenue contribution from coconut oil has decreased, while the contribution from new categories has grown to approximately 15% of domestic revenue in FY23 and is expected to reach 20% in FY24. ....
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Marico predicts an improvement of 200-250 bps in FY24 for its gross margins, supported by cooling commodity inflation and normalisation of portfolio mix. The company expects "volume-led growth" in the domestic market, driven by expansion in distribution, cost controls, and investments in brand building. Marico aims to deliver 13-15% revenue growth in the medium-term, sustained by 8-10% domestic volume growth, and double-digit constant currency growth in international trade. ....
In its update for the June quarter, Marico said that though the urban markets were steady during the April-June period, the anticipated pickup in rural demand remained elusive. ....