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Marico's cheaper copra lifts margins, but 87% monsoon clouds FMCG's second-half outlook
Marico's copra costs are about 35 per cent below peak, lifting its margins, while a monsoon that ended at 87 per cent of the long-period average threatens rural demand and input costs for Dabur, GCPL and Honasa in the second half.
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The numbers
Figures from The Hindu BusinessLine,
| Marico operating profit growth expected: | mid-twenties |
|---|---|
| Nomura view of Marico consolidated EBITDA growth: | about 25 per cent |
| Honasa net sales value growth expected: | early-thirties |
| GCPL standalone growth hit from trade inventory correction: | 100–150 basis points |
| GCPL consolidated revenue growth expected: | high-teen |
| Parachute share of Marico domestic revenue: | approximately 35–36 per cent |
Why it matters to operators and investors
Use the copra price, about 35% below peak, to lock in coconut-oil-linked procurement and protect margin now, while preparing H2 rural plans for an 87%-of-LPA monsoon through tighter trade-spend discipline and a pack-size and distribution mix that suits weaker village demand.
The source
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