GST disrupt sales volume of Marico
DSIJ Intelligence / 01 Aug 2017
The company's total sales for Q1FY18 came in at Rs 1692.4 crore, which represents a 28 per cent sequential increase and 3.53 per cent YoY decline.
Marico Ltd. reported its results for the quarter ended June 30, 2017 today.
The company's total sales for Q1FY18 came in at Rs 1692.4 crore, which represents a 28 per cent sequential increase and 3.53 per cent YoY decline.
Its operating profit (EBIT) for the quarter amounted to Rs 303.17 crore and its EBIT margin stood at 17.91 per cent.
The company reported PAT of Rs 235.94 crore, which represents a sequential QoQ increase of 38.05 per cent and a YoY decline of 11.93 per cent.
GST implementation led to short term disruption in the company's operations. It impacted the volume growth in Q1, especially in rural India and also wholesale market due to destocking across channels.
The company is aiming 8-10% volume growth and healthy market share gains, backed by increased investment in core portfolio, aggressive new product launches, distribution expansion, judicious call on pricing and tighter cost management.
Marico’s stock opened today at Rs 335 and fell by about 5 per cent after announcement of quarterly results. The stock was trading at Rs 325, down by 2.5 per cent intra-day.
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