Saturated hair oil category; growth prospects in foods Hair oil category is saturated with limited growth opportunity. In Parachute, ~30% category is unorganised creating limited opportunity to grow through market share gains only. Similarly, VAHO segment has become crowded with too many brands chasing a limited opportunity. We believe growth opportunity for Marico is limited to select brands in VAHO. We believe continued demand for healthier edible oil & food products would result in stronger growth for entire Saffola franchise that is contributing ~25% of...