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Marico to boost foods portfolio to double current scale in FY27

Tuesday, 07 May 2024
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Marico plans to double its foods portfolio to two times the current scale in FY27. It expects the domestic revenue share from this case, along with personal care to expand from around 20 percent to 25 percent in the said timeframe.

The FMCG company also aims for consistent improvements in profitability, while it drives the scale up for other brands, like the Foods and Digital-First.

Focused initiatives in this direction have led to a robust GM expansion of nearly 800 bps in the foods portfolio in FY24 alone. Saffola Oats, a flagship brand under Marico's Foods portfolio, maintained its performance, retaining its category leadership position. During the quarter, Marico unveiled a strategic move to enhance its flavoured Oats range by introducing four gourmet-style flavours. Marico's other brands, including True Elements and Plix, have also sustained growth momentum, contributing positively to the company's overall performance. 

The company has made successful initiatives towards refinements in supply chain and GTM during FY24. In the domestic business, it expects a gradually improving growth trajectory in the core categories through ongoing initiatives to enhance GT channel partner profitability in direct reach via Project SETU. 

Its foods division registered 24 percent value growth year-on-year (YoY), closing the year at approx. four times its scale in FY20. 

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