Views on Marico 4QFY2014 results - Angel Broking

Views of Mr. V. Srinivasan (Research Analyst - FMGC, Angel Broking) on Marico 4QFY2014 results:

"For 4QFY2014 Marico posted a healthy performance aided by recovery in both its India and International businesses. The company's consolidated top-line rose by 7.3% yoy to Rs. 1,069cr. Adjusted for the now demerged Kaya Business, the top-line growth stood at 17.4%. The company's India FMCG business grew by 16% aided by a 6% volume growth and price hikes taken by the company across portfolio. The company's international businesses posted a revenue growth of 21% during the quarter. The company's OPM increased by 228bp yoy to 14.2% despite the steep increase in copra prices due to reduction in employee, advertisement and other expenses. The demerger of Kaya business contributed substantially to the reduction in expenses. The company's bottom-line increased by 75% yoy to Rs. 89cr, due to a 27.8% yoy increase in operating profit, higher other income and lower interest costs. We maintain a Buy rating on the stock with a target price of Rs. 254."

Shares of MARICO LTD. was last trading in BSE at Rs.217.45 as compared to the previous close of Rs. 203.65. The total number of shares traded during the day was 155788 in over 6407 trades.

The stock hit an intraday high of Rs. 219.1 and intraday low of 207.75. The net turnover during the day was Rs. 33597556.

Source : Equity Bulls

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