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Marico reports decline in India business volume in Q1 FY23

06 Jul 2022 Evaluate

Marico's India business volumes declined in mid-single digits in Q1 FY23. The performance was particularly dragged by a sharp drop in Saffola Oils. Excluding Saffola Oils, the India business posted marginal volume growth. Parachute Coconut Oil recorded a minor volume decline. The brand passed on more value to consumers towards the second half of the quarter amidst steady deflation in copra.

Value Added Hair Oils grew in low single digits in value terms despite weak consumption sentiment, especially in rural. Saffola Oils declined in double digits, having to contend with high in-home consumption in the base quarter and significant downtrading visible from super premium to mass segment in Edible Oils.

However, the International business maintained its strong momentum, delivering high-teen constant currency growth. All markets exhibited strength and stayed on the path of sustained profitable growth, despite the prevailing global uncertainty and inflationary pressures.

Marico is one of India’s leading Consumer Products Group, in the global beauty and wellness space. Its products are sold in India and about 25 other countries in Asia and Africa.

Marico Share Price

816.20 1.50 (0.18%)
07-May-2026 09:21 View Price Chart
Peers
Company Name CMP
AWL Agri Business 209.30
Patanjali Foods 459.15
Gokul Agro Resources 238.60
Marico 816.20
BCL Industries 36.45
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