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High copra prices hit margins, volume growth remains strong…
Marico’s Q3FY11 results were in line with our estimates with sales
growing by 22.1% to | 817.8 crore led by ~15% volume growth and ~7%
price led growth. EBITDA margin dipped by 260 bps to 12.2%, led by
higher raw material cost. Raw material cost increased from 39.2% of the
sales in Q3FY10 to 43.1% in Q3FY11 due to higher copra and rice bran
prices. Interest cost increased by 19.5% to | 7.6 crore and other income
increased by 21.2% to | 6.9 crore during the quarter. Net profit rose by
10% to | 69.5 crore on the back of higher EBITDA and other income.
Visit http://indiaer.blogspot.com/ for complete details �� ��
High copra prices hit margins, volume growth remains strong…
Marico’s Q3FY11 results were in line with our estimates with sales
growing by 22.1% to | 817.8 crore led by ~15% volume growth and ~7%
price led growth. EBITDA margin dipped by 260 bps to 12.2%, led by
higher raw material cost. Raw material cost increased from 39.2% of the
sales in Q3FY10 to 43.1% in Q3FY11 due to higher copra and rice bran
prices. Interest cost increased by 19.5% to | 7.6 crore and other income
increased by 21.2% to | 6.9 crore during the quarter. Net profit rose by
10% to | 69.5 crore on the back of higher EBITDA and other income.