Mumbai headquartered company Marico’s India Business recorded a turnover of Rs 1,480 crore, down 15% on a year-on-year basis
Marico’s foods franchise has posted value growth of 30 percent in Q1FY21, led by 41 percent growth in the Saffola Oats franchise.
Both the plain and savory offerings grew healthily. Saffola Masala Oats continued to fortify its stronghold in the flavoured oats segment as its value market share expanded to 88 per cent (MAT Jun’20).
In the edible oil category, Saffola refined edible oils grew by 16 percent in volume terms, furthering its healthy growth journey and topped up by the in-home consumption tailwind.
The volume market share of the brand in the Super Premium Refined Edible Oils segment has expanded by ~330 bps to 77 percent (MAT Jun’20).
In response to the heightened immunity boosting needs of the consumer, the Company launched Saffola Honey, 100% pure honey with no added sugar. Every batch of Saffola Honey undergoes the strict NMR (Nuclear Magnetic Resonance) test, which is one of the most advanced tests in the world to check for purity and origin of food items through spectroscopic fingerprinting. The product has been made available across channels in 250 GM, 500 GM and 1 KG PET and Glass jars.
The Company had forayed into the Hygiene segment with the launch of Mediker Hand Sanitizer and Veggie Clean in April. Both have witnessed healthy traction and the Company will continue to invest for growth in these franchises.
Marico’s International business declined by 4 percent in constant currency terms in Q1FY21. The operating margin in the international business stood at 29.8 percent in Q1FY21 vs 25.6 percent in Q1FY20.