India's Marico eyes 10% volume growth, plans international expansion

By

Maverick Martins

Published
Sep 4, 2018

Home-grown fast moving consumer goods (FMCG) business Marico is eyeing 10 percent growth in business volume over the next three years on the back of domestic and international expansion, coupled with strategic investments.

The company plans to strengthen its presence in the foreign markets and will be making strategic investments to expand their base overseas to boost the overall revenue of the firm.
 
During the first quarter of the current fiscal, the company performed exceedingly well in both the domestic and international markets with business volumes growing 12 percent and 3 percent respectively. Marico’s first-quarter profit grew 10 percent to Rs 260 crore ($37.9 million).

“The company is aiming for 8-10 percent volume growth over the medium term (3 to 5 years), coupled with healthy market share gains,” Marico CFO Vivek Karve told PTI.
 
“The company will invest in existing and new brands. In the categories of leave-in serums and male grooming, the company will innovate with new product and packaging offerings to build them into growth engines for the future,” said Karve.
 
“We aim to deliver double-digit constant currency growth in FY19 and the medium term, on the back of strategic investments planned in core markets of Bangladesh, Vietnam, Middle East & North Africa and South Africa, coupled with expansion in adjacent markets of South Asia, Indo-China region and new export markets,”  added Karve.
 
Marico is a leading Indian company in the beauty and wellness space. Its product portfolio includes hair care, skin care, health care and male grooming. The company has set a sales target of 10,000 crore rupees (approximately 1.5 billion US dollars) by 2022.