Cuts in earnings estimates and near-term volume outlook worries have weighed on the stock of Marico, which has slipped about 6 per cent from its weekly highs. Of this, about 3.5 per cent decline has happened after the March quarter results were announced last Thursday evening. While March quarter results were in line with expectations and market share gains were positives, weak volume growth across key categories and sluggish rural sales are the key concerns in the near term.
Marico, the home-grown FMCG major, is the leader in hair oil and has strong presence in edible oil, through its Parachute