Marico Limited reported stable demand conditions with building blocks for a gradual recovery in consumption. India business demonstrated sequential improvement in volume growth. Over 95% of the business gained or sustained market share on a MAT basis. The company remains focused on execution, strengthening franchises, and driving sustainable volume-led growth. The international business continued to deliver robust and broad-based growth. Input cost easing and margin pressure are subsiding.
India Business Performance
The India business demonstrated a sequential improvement in volume growth, driven by strong offtakes. Calibrated pricing actions across core portfolios aided revenue momentum. E-commerce and quick commerce were leading growth drivers. Traditional trade also showed improvement, reflecting investments made over the last two years. Project SETU strengthens distribution, expanding coverage in upgraded towns and rural areas. Initiatives are now commencing on targeted expansion in urban channels.
Category Highlights
Parachute continued to demonstrate inherent brand strength. Underlying volume growth remained positive. The brand will pass on the benefit to the consumer in the coming months as copra prices decrease. Value-added hair oils delivered another strong quarter with accelerated market share gains. Value share on MAT basis stands at nearly 30%. Double-digit growth is expected in the near-to-medium term. Saffola Edible Oil had a soft quarter in an elevated pricing environment. Focus remains on premiumization. The Foods portfolio performed in line with expectations, with Saffola Oats gaining market share. Focus is on stabilization and strengthening profitability.
Strategic Investments & Digital-First Portfolio
Marico announced a strategic investment in 4700BC, a leading premium gourmet snacking brand, known for its popcorn and innovative offerings. This investment fills a gap in the premium gourmet snack segment. The 4700BC brand has about INR 140 crores ARR in the last three months. Potential to scale its ARR to 3x in the next three years. The premium personal care portfolio grew in double digits. The Digital-First portfolio is expected to exit FY ’26 with an ARR of INR +1,000 crores.
International Business Overview
The international business continued to deliver robust and broad-based growth. Bangladesh led, with a steady core business. Vietnam and South Africa bounced back to deliver double-digit constant currency growth. MENA also delivered strong performance. NCD business delivered accelerated growth. Virtuous growth flywheel is expected to sustain across markets.
Forward Outlook
Marico expects to drive improved trajectory in the core portfolio while scaling up foods and digital-first businesses. The company aims to sustain volume growth even as pricing growth moderates. With input cost easing and margin pressure subsiding, progressive improvement in operating profit growth rates is expected. The company is moving from stability to purposeful acceleration, leveraging a resilient operating model.
Source: BSE
