Marico Limited delivered robust performance in FY26, achieving multi-year highs in consolidated revenue. Driven by strategic volume growth in India and constant currency growth in international markets, the company remains focused on profitable expansion. Despite global geopolitical tensions, Marico reported strong growth in key segments like Value Added Hair Oils (VAHO) and Foods. Management expressed confidence in sustaining a double-digit revenue growth trajectory and high-teen EBITDA margins as they target 2030 strategic goals.
FY26 Operational and Financial Highlights
Marico Limited concluded FY26 with strong execution across its portfolio. Consolidated revenue reached multi-year highs, supported by improved volume growth in the India business and steady constant currency growth in international operations. More than 95% of the company’s portfolio gained or sustained market share during the quarter, reflecting the success of Project SETU in boosting rural reach and execution quality.
Category Performance and Strategy
The company’s core Parachute brand maintained its leadership, delivering low single-digit volume growth following a 35% correction in copra prices. Value Added Hair Oils (VAHO) saw a robust performance with volume growth in the low 20s, driven by momentum in premium segments. The Foods portfolio reached INR 1,000+ crore in revenue, bolstered by mainstream health offerings and strategic acquisitions like True Elements, 4700BC, Cosmix, and Plix. Management highlighted a shift in the digital-first premium portfolio, which is scaling rapidly with structural improvements in profitability.
Geographic Growth and Future Outlook
International markets remain a key growth engine, with Bangladesh maintaining strong momentum alongside scaling in Vietnam, South Africa, and Egypt. While the Middle East region faced temporary supply side constraints in March, the impact on overall turnover remains minimal at 4%. Looking ahead to FY27, the company expects to maintain high single-digit volume growth in India and mid-teen constant currency growth in its international business. The firm is targeting double-digit revenue growth, aiming to exceed INR 15,000 crore in total revenues.
Strategic Priorities for 2030
Marico is actively transforming its business model by reducing the share of commodity-linked revenue from over 70% to 50% by 2030. The company remains committed to disciplined capital allocation and digital transformation, with 55% of core advertising spend now directed toward digital media. By focusing on fewer, bigger, and more profitable brand plays, Marico aims to achieve mid-teen EBITDA margins by the end of the decade, supported by a resilient operating model and robust supply chain advantages.
Source: BSE
