Marico Bangladesh Limited (MBL BD) posts 13.1% YoY profit growth in 3QFY23 (October– December, 2022)
· MBL BD’s posted 13.1% YoY profit growth in 3QFY23.
· Revenue increased by 7.0% YoY in 3QFY23. However, GPM fell by ~300bps YoY to 49.7% due higher prices of raw materials in the international market.
· Marketing, selling and distribution expenses has decreased by 28.8% YoY in the reporting quarter. On the other hand, administrative expenses increased by 13.4% YoY. Overall, EBIT margin reduced (22bps) less than GPM. MBL BD has been focused on maintaining margin amid higher raw materials price environment by controlling marketing expenses (decreased 22.8% YoY in 6MFY23) this year.
· Net finance income has increased substantially by 356.9% YoY to BDT 90mn in 3QFY23. Effective tax rate decreased by 60bps YoY 22.9% in 3QFY23.
| Particulars | 3QFY22 | 3QFY23 | 6MFY22 | 6MFY23 |
| Net revenue (BDT mn) | 3,342 | 3,578 | 10,095 | 10,923 |
| Gross profit (BDT mn) | 1,759 | 1,777 | 5,512 | 5,595 |
| EBIT (BDT mn) | 1,166 | 1,240 | 3,684 | 3,958 |
| NPAT (BDT mn) | 862 | 974 | 2,838 | 2,975 |
| EPS (BDT) | 27.35 | 30.93 | 90.08 | 94.45 |
| BVPS (BDT) | 82.04 | 84.81 | 82.04 | 84.81 |
| Growth YoY | ||||
| Revenue | 17.3% | 7.0% | 15.1% | 8.2% |
| EBIT | 19.1% | 6.3% | 8.2% | 7.4% |
| NPAT | 20.6% | 13.1% | 13.5% | 4.8% |
| Margin | ||||
| Gross profit | 52.6% | 49.7% | 54.6% | 51.2% |
| EBIT | 34.9% | 34.7% | 36.5% | 36.2% |
| NPAT | 25.8% | 27.2% | 28.1% | 27.2% |