FMCG major Marico posted a net profit of Rs 227 crore in the fourth quarter fiscal 2021, registering a growth of 14.1 percent from Rs 199 crore in the year-ago quarter.
The company’s revenue from operations during Q4FY21 rose 34.5 percent to Rs 2,012 crore from Rs 1,496 crore, YoY. The revenue growth was backed by robust volume growth of 25 percent in the domestic business and constant currency growth of 23 percent in the international business.
Domestic volume growth beat CNBC-TV18 analysts’ poll estimates of 16-18 percent.
Marico reported a one-time loss of Rs 19 crore in Q4FY21.
“Gross margin was down 517 bps owing to the severe input cost pressure, as pricing interventions in the core portfolios were not commensurate to the inflation,” the company said in a regulatory filing.
EBITDA increased 13.1 per cent to Rs 319 crore from Rs 282 crore, while EBITDA margin declined by 300 bps to 15.9 percent from 18.9 percent.
Parachute Rigids grew 29 percent in volumes, albeit on a low base, undeterred by price hikes and pullback of consumer offers to counter a part of the input cost push, Marico said.
Value Added Hair Oils grew 22 percent in volumes with all of the key brands clocking double-digit growth. The company estimates steady market share gains in the overall hair oils category.
The Premium Personal Care ended with a modest dip in Q4 as growth in Serums was more than offset by the decline in Male Grooming.
In the International business, Bangladesh clocked 20 percent constant currency growth. South East Asia also reverted to positive territory with 13 percent constant currency growth. MENA and South Africa also gained on a low base, the company said.
At 1:55 pm, the shares of Marico were trading 1.06 percent lower at Rs 405.60 apiece on the BSE.