Nirmal Bang

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

A Relationship Beyond Broking

External broker reports(aggregated public sources), Nirmal Bang

External broker reports(aggregated public sources)

Equity Bottom-Up

<div><ul><li>Tepid demand leads to mid-single-digit volume decline in India business: MRCO’s domestic business (~77% of revenue) saw mid-single-digit volume decline in 1QFY23, largely dragged by a sharp drop in Saffola Oils, which had high in-home consumption in the base quarter and also witnessed significant downtrading from super premium to mass segment in Edible Oils.</li><li>Gross margins to stay flat sequentially: Trends seen in certain key raw materials for MRCO in 1QFY23: (i) Copra prices remained soft, (ii) Edible and crude oil prices cooled off to some extent towards the end of the quarter.</li><li>View &amp; Valuation: Barring the recent quarters (affected by overall deceleration in market demand), MRCO’s core portfolio has delivered a strong performance and the company continues to make efforts towards meeting its medium-term growth aspirations.</li></ul></div>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Tepid demand leads to mid-single-digit volume decline in India business: MRCO’s domestic business (~77% of revenue) saw mid-single-digit volume decline in 1QFY23, largely dragged by a sharp drop in Saffola Oils, which had high in-home consumption in the base quarter and also witnessed significant downtrading from super premium to mass segment in Edible Oils.Gross margins to stay flat sequentially: Trends seen in certain key raw materials for MRCO in 1QFY23: (i) Copra prices remained soft, (ii) Edible and crude oil prices cooled off to some extent towards the end of the quarter.View &amp; Valuation: Barring the recent quarters (affected by overall deceleration in market demand), MRCO’s core portfolio has delivered a strong performance and the company continues to make efforts towards meeting its medium-term growth aspirations.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Marico Ltd - Weak Consumption Trends Weigh on 1QFY23 Volume