Marico food business to scale up to Rs 850 cr in FY24

Marico is aiming to ramp up its revenue from the food portfolio to Rs 850 crore by fiscal 2024, after closing near the Rs 600 crore mark in fiscal 2023. Saffola, the master brand under which Marico offers healthier foods, has expanded the total addressable market to over Rs 10,000 crore, through a portfolio of healthy value-added offerings. 

In the last two-three years, Marico has expanded its play in the food segment with multiple products, including oats, honey, noodles, peanut butter, mayonnaise, and ready-to-eat healthy snacking category under the aegis of Saffola Munchie. The company maintains a ‘steadfast focus’ on market development, brand building, supply-chain excellence, distribution expansion, and sustained innovation to scale its food business. 

Marico is one of India’s leading Consumer Products Groups, in the global beauty and wellness space. The company is a prominent FMCG company, with a diverse product portfolio including coconut oil, hair oils, premium refined edible oils in consumer packs, premium hair care, health foods, and male grooming in India. The company also has a presence in the hair care, healthcare, and male grooming segments in Bangladesh, the Middle East, North Africa, Southeast Asia, and South Africa. 

Today, the stock opened at Rs 534.05, with a high and low of Rs 535.10 and Rs 525.85. Currently, the stock is trading at Rs 529.35, down by 0.40%. In the last one year, the stock has given about 4% returns.   

The stock has a 52-week high of Rs 559 and a 52-week low of Rs 462.95. The company has a ROCE of 43.0% and an ROE of 35.8% with a market capitalisation of Rs 68,183 crore. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.