• Event Type: Q2 FY27 Earnings Conference Call held on Monday, November 2, 2026, to discuss the un-audited financial results and operations for the quarter and half year ended September 30, 2026.
  • Management Participants: Mr. Saugata Gupta – MD & CEO, Marico Limited; Mr. Pawan Agrawal – Group CFO & CEO-International Business, Marico Limited.
  • Financial Performance Highlights:
  • Consolidated revenue grew 13% year-on-year
  • India business delivered 10% volume growth
  • International business delivered 13% constant currency growth
  • EBITDA grew 27% year-on-year
  • PAT increased 31% year-on-year (highest profit growth in 50 quarters)
  • Gross margin expanded by approximately 600 basis points year-on-year
  • EBITDA margin expanded by 200 basis points to 18.2%
  • Advertising and promotion expenditure increased by 44% during the quarter
  • Business Segment Performance:
  • Parachute delivered volume growth of 13% (highest in 22 quarters), gained 570 basis points volume market share to reach 60%
  • Value-Added Hair Oil delivered 21% value growth and 80-basis point gain in value market share
  • Foods grew 45% and crossed annualized revenue run rate of INR1,500 crores
  • Premium Personal Care portfolio crossed INR500 crores ARR
  • Digital-first personal care portfolio reached approximately INR1,150 crores
  • International business showed robust momentum with Bangladesh (5% CC growth), Vietnam (22% CC growth), MENA (15% CC growth), and South Africa (15% CC growth)
  • Strategic Updates:
  • Project SETU GTM transformation delivered 1-2% incremental volume growth
  • Embarking on SETU 2.0 with focus on AI and tech-led smarter growth
  • Strategic pivot towards mid and premium segments in Value-Added Hair Oils
  • Almond hair oil franchise on track to scale to INR100+ crores ARR by FY28
  • Saffola Edible Oil undergoing deliberate reset to strengthen long-term profitability
  • Shampoo category beginning to contribute 4-5% of total turnover
  • Outlook and Guidance:
  • Upgraded full-year EBITDA growth outlook to mid-twenties (from ~20% earlier)
  • Expect to deliver teens revenue growth and comfortably cross INR15,000 crores revenue mark
  • India Business volume growth expected to touch double digits for full year
  • Aspire to achieve INR20,000 crores revenue target by FY29 (1 year ahead of schedule)
  • Expect mid-teens EBITDA CAGR going forward
  • Compliance Statement: The transcript was filed pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, and is available on the company's website.

Additional Notes Section

  • The document includes the full transcript of the earnings conference call with analyst Q&A session.
  • Detailed financial data and performance metrics were disclosed during the call, including specific growth figures for various business segments.
  • The management provided extensive commentary on operational performance, market conditions, and strategic initiatives.