Marico witnessed strong 9% volume growth in Parachute Rigid, which led to 246 bps market share gain in Q1FY20. The company witnessed de-growth in non-focussed mass brands as declining copra prices gives an edge to unorganised players in low price brands. Despite 25% decline in copra prices, the company has not taken any price cut except for few promotional offers, which led to 1% decline in prices. We believe 30-35% loose coconut oil market provides enough scope for the company to grow in the segment in the medium term. The company commands 60% market share in coconut...