Indian consumer goods manufacturer Marico announced on Monday that it expects consolidated revenue to grow by a double-digit percentage in the second quarter. This growth is driven by high domestic demand for the company's premium products.
The company noted that the segment of high-quality hair oils, which includes specialized and premium products, has shown growth approaching twenty percent for the sixth consecutive quarter.
Marico is one of the Indian consumer companies that has benefited from the premiumization process, as more buyers choose more expensive goods across various categories, from food products to personal hygiene items.
The company also reported that the cost of copra, a key raw material for Marico, remained approximately 35% below peak levels.
The producer of coconut oil Parachute and edible oils Saffola stated that its business in India showed base volume growth reaching double-digit figures. Meanwhile, international business demonstrated growth within twenty percent on a constant currency basis, supported by strong results in Vietnam, the Middle East, and South Africa, while Bangladesh showed modest consistent improvement.