Marico inches up on aiming to ramp up revenue from foods portfolio to Rs 850 crore by FY24
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Marico is currently trading at Rs. 531.55, up by 0.05 points or 0.01% from its previous closing of Rs. 531.50 on the BSE.
The scrip opened at Rs. 534.05 and has touched a high and low of Rs. 535.10 and Rs. 530.90 respectively. So far 3486 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 559.00 on 01-Jun-2023 and a 52 week low of Rs. 462.95 on 20-Apr-2023.
Last one week high and low of the scrip stood at Rs. 547.65 and Rs. 529.05 respectively. The current market cap of the company is Rs. 68816.43 crore.
The promoters holding in the company stood at 59.42%, while Institutions and Non-Institutions held 35.06% and 5.52% respectively.
Marico is aiming to ramp up its revenue from the foods portfolio to Rs 850 crore by fiscal 2024, after closing near the Rs 600 crore mark in fiscal 2023. Saffola, the master brand under which Marico offers healthier foods, has expanded the total addressable market to over Rs 10,000 crore, through a portfolio of healthy value-added offerings.
In the last two-three years, Marico has expanded its play in the food segment with multiple products, including oats, honey, noodles, peanut butter, mayonnaise, and ready-to-eat healthy snacking category under the aegis of Saffola Munchie. The company maintains a 'steadfast focus' on market development, brand building, supply-chain excellence, distribution expansion, and sustained innovation to scale its foods business.
Marico is one of India’s leading Consumer Products Group, in the global beauty and wellness space. Its products are sold in India and about 25 other countries in Asia and Africa.
