Date: October 5, 2026

Operational Performance Summary

Domestic Business Performance

Domestic demand remained resilient during Q2 FY27 despite volatile operating environment. India business continued strong momentum with underlying volume growth touching double digits.

Product Category Performance:

  • Parachute Coconut Oil: Sustained strong performance with early teens volume growth
  • Saffola Oils: Delivered mid-single digit price-led growth with volume decline due to focus on maintaining threshold profitability and supply rationalization of select variants
  • Value Added Hair Oils: Delivered sixth consecutive quarter of stellar growth, touching twenties volume growth
  • Foods and Premium Personal Care: Sustained growth momentum including digital-first brands and shampoo

International Business Performance

International business delivered robust quarter with constant currency growth in the teens:

  • Strong performance in Vietnam, Middle East, and South Africa
  • Bangladesh witnessed marginal sequential improvement while continuing to lap high base amid persistently elevated inflation

Financial Expectations

Revenue: Consolidated revenue expected to grow in double digits

Gross Margin: Expected strong acceleration on year-on-year basis led by favourable portfolio mix and tailwind from copra prices

Input Costs: Cost of crude-linked derivatives elevated further, while copra prices remained rangebound at ~35% below peak levels

ASP Investments: Increased significantly as company continued to invest behind brand building and growth initiatives

Operating Profit: Expected to grow in the mid-twenties

Outlook and Guidance

With strong performance through first half of FY27, company is likely to surpass near-term guidance across key financial parameters. Company maintains aspiration of delivering sustainable and profitable volume-led growth over medium term. Remain optimistic on consumption trends while closely monitoring evolving inflationary conditions.

Company Background

Marico recorded turnover of ₹136.1 billion (USD 1.5 billion) during FY 2025-26. Overseas consumer products portfolio contributes about 24% of Group's revenue. Company touches lives of 1 out of every 3 Indians through its portfolio of brands.