Marico expands breakfast portfolio in India with launch of Saffola Muesli, shares gain 2%

The leading Fast Moving Consumer Goods (FMCG) company announced the launch of Saffola Muesli with Flavour Pops on June 24, expanding its wide breakfast portfolio through ‘Flavour & Crunch’, to leverage the brand’s equity in the adult breakfast segment.

With extension into categories like peanut butter and honey beyond its wide breakfast range, Saffola has emerged as one of the leading players in FMCG brands, the company claimed in an exchange filing confirming the new launch.

Adding to its wide range of nutrition offerings, Marico has now come up with crunchy muesli in three new flavours under Saffola, namely ‘Kesar Crunch’, ‘Berry Crunch’ and ‘Choco Crunch’.

"Our foray into the Muesli Category marks a significant milestone in line with our brand proposition of offering consumers “better for you” products with a “taste first” approach. The idea was to deliver consumer delight through our unique flavour pops format that gives a burst of flavour and an irresistibly crunchy experience,” said Vaibhav Bhanchawat, Chief Operating Officer of India & Foods Business, Marico.

Marico is among India's leading consumer product companies operating in global beauty and wellness categories.

Marico Limited reported impressive growth in its net profit for FY 24 moving up by 14% year-on-year to ₹1,481 crore against ₹1,302 crore in FY23. Its EBITDA swelled 12% to ₹2,026 from ₹1,810 in the year-ago period.

However, the firm's revenue from operations dropped marginally by 1% to ₹9,653 crore from ₹9,764 crore in the previous fiscal.

In the quarter that ended in March 2024, the homegrown FMCG company posted a 2% jump in consolidated revenue from operation to ₹2,278 crore.

Marico reported ₹320 crore in net profit for Q4FY24, up 4.91% from ₹305 crore in the year-ago quarter. The company’s profit after tax (PAT), however, slipped by 17% quarter-on-quarter against ₹386 crore in the year-ago period.