Marico's Q4 performance was relatively better than peers, led by strong growth in Saffola. Consolidated sales declined 7% - marginally lower than estimates, whereas EBITDA and PBT fell 3-4% but still better than expectations on lower ad spends (down 18%). India business dropped 8% and as per management, growth would have been flat, excluding disruptions. Saffola's improved growth outlook and management's increased...