Marico, one of the leading companies in India who deals with consumer goods and services, and provides products and services of beauty and wellness. The company is expecting to have mid-teen growth in terms of volume in next couple of quarters. It will be possible with the improvement in consumer demand in rural markets. In urban markets, it is expected to have a growth in upcoming years, rather a small growth is being seen.
Marico Chief Financial Officer Pawan Agarwal said “We have a strong revival in consumer demand and consumers sentiments in the past couple of quarters. So, we believe that at least in the next couple of quarters we should definitely deliver mid-teen growth”. 24-25 % of sales were being noticed in the rural areas and 10% sales rise in the urban areas as per year ended 2020. Marico is now getting sales of 33% in the rural areas which can further grow in fiscal year. The main objective is to grow and get back pre-COVID 19 levels.
Marico has a target of 500 crore revenue in the year 2021-2022. The company is launching several new products in the immunity and health foods segments and it focuses on the middle size family or mass categories. Marico is also growing its organization in e-commerce and getting 8% of its sales. Marico is trying to double its sales through the e-commerce and earn more revenue from it. The company does not want to decline in e-commerce as the other channels are recovering well.
