Marico delivers stellar financial results in Q1 FY24!
Here’s how they did:
- EPS up by c29% to BDT 42.2. It exceeds expectations by c5%.
- Sales up by c9% yoy driven by price hike. Inflation and price hike put pressure on volume sales. Once inflationary impact moderates, growth to reach double digits.
- Gross margin rose 604 bps yoy driven by 20% cheaper copra prices.
- Marico didn’t declare interim dividend. Dividend payout likely to increase when austerity measures relax. Meanwhile, cash balance rose. Marico will enjoy more interest income on this cash.
Based on these results, we believe Marico has a good year ahead of it indeed. What do you think?
