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We met with the management of Marico (MRCO) to discuss industry trends, the company’s growth across verticals, and its long-term strategies. MRCO is focused on achieving steady double-digit growth, driven by the gradually improving trajectory in its core categories, rapid scaling of new-age businesses, and stable growth in international markets.
CY24 was a transformative year for Varun Beverages Limited (VBL), marked by strong growth, global expansion, and unwavering sustainability commitments.
We initiate coverage on Varun Beverages Ltd. with a “BUY” rating. We like the company for its demonstrated execution capabilities in India, further headroom for distribution expansion in India, continued territorial expansion in Africa, international margin improvement and strengthening ties with PepsiCo.
Marico posted mixed performance in Q3FY25, led by a sequential improvement in volume growth in the domestic business and revenue beating estimates, while OPM fell y-o-y and missed estimates.