BSECompany Update2 Nov 2026 · 2 Nov 2026, 03:47 pm
Please find enclosed the Information Update along with an earnings presentation on the un-audited consolidated and standalone financial results of the Company for the quarter and half year ended September 30, 2026.
Marico Ltd · 531642
✦ AI Summary▲ PositiveResults
Marico Ltd has announced its Q2 FY27 results, showing strong performance with volume-led teens revenue growth, margin expansion, and sustained robust momentum across India and international markets.
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Earnings Impact8/10
Growth Catalyst9/10
Governance Concern1/10
Regulatory Risk1/10
Balance Sheet Risk1/10
Liquidity Impact8/10
Market Sentiment9/10
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Full Announcement
Marico Ltd - 531642 - Information Update For The Quarter And Half Year Ended September 30, 2026
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November 2, 2026
The Secretary, The Manager,
Listing Department, Listing Department,
BSE Limited, National Stock Exchange of India Limited,
Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1 Block G,
Dalal Street, Bandra Kurla Complex, Bandra (East),
Mumbai – 400 001 Mumbai – 400 051
Scrip Code: 531642 Scrip Symbol: MARICO
Sub: Information Update for the quarter and half year ended September 30, 2026
Dear Sir/Madam,
Please find enclosed the Information Update along with an earnings presentation on the un-audited consolidated
financial results of the Company (i.e. Marico Limited and its Subsidiaries) for the quarter and half year ended
September 30, 2026.
The same is being made available on the website of the Company at:
https://marico.com/india/investors#quarterly.
This is for your information and records.
Thank you.
For Marico Limited
Vinay M A
Company Secretary & Head- Legal Operations
Encl.: As above
Marico Information classification: Official
Q2 FY27 Results
November 2026
Safe Harbour Statement
This Release / Communication, except for the historical information, may contain statements, including the words or phrases such as ‘expects,
anticipates, intends, will, would, undertakes, aims, estimates, contemplates, seeks to, objective, goal, projects, should’ and similar expressions
or variations of these expressions or negatives of these terms indicating future performance or results, financial or otherwise, which are forward
looking statements. These forward looking statements are based on certain expectations, assumptions, anticipated developments and other
factors which are not limited to, risk and uncertainties regarding fluctuations in earnings, market growth, intense competition and the pricing
environment in the market, consumption level, ability to maintain and manage key customer relationship and supply chain sources and those
factors which may affect our ability to implement business strategies successfully, namely changes in regulatory environments, political
instability, change in international oil prices and input costs and new or changed priorities of the trade. The Company, therefore, cannot
guarantee that the forward-looking statements made herein shall be realized. The Company, based on changes as stated above, may alter,
amend, modify or make necessary corrective changes in any manner to any such forward looking statement contained herein or make written or
oral forward-looking statements as may be required from time to time on the basis of subsequent developments and events. The Company does
not undertake any obligation to update forward looking statements that may be made from time to time by or on behalf of the Company to
reflect the events or circumstances after the date hereof.
Index
01 02 03 04
Operating Performance Outlook Financials
Environment Highlights
Operating Environment
Real GDP Growth Rates (%) Consumer Inflation %
10% 10% Consumption
9% 8% Consumer demand trends
remained healthy aided by
favorable policy stimulus
4% Jan-26 Feb-26 Mar-26 Apr-26May-26 Jun-26 Jul-26 Aug-26 Sep-26
Q1FY25Q2FY25Q3FY25Q4FY25Q1FY26Q2FY26Q3FY26Q4FY26Q1FY27 -2% Inflation
Real GDP
CPI Food Inflation Transport Inflation Geopolitical volatility and rising
inflation especially crude and
vegetable oil remains a key
monitorable
Resilient economic activity driven by Evolving geopolitical situation and
private consumption and investment weather-related risks drive inflation
Source: MoSPI and RBI
Index
01 02 03 04
Operating Performance Outlook Financials
Environment Highlights
Strong performance underpinned by volume-led teens revenue growth
10% 13% 13%
Domestic Volume Growth International CCG Consolidated Revenue Growth
600 bps 44% 27% 31%
Consolidated Gross Consolidated A&P Consolidated EBITDA Growth; Consolidated PAT
Margin Expansion Spends Growth 200bps margin expansion Growth
Highest in 50 quarters Highest in 51 quarters
India Business Revenue up 10% YoY | International Business Revenue up 23% YoY (in INR terms)
With sustained robust momentum across India and International markets
India Volume Growth International Business CCG Consolidated Revenue Growth
19% 19% 27%
10% 16% 16% 23% 22% 23%
9% 9% 20%
8% 13% 13%
7% 7%
6% 10% 13%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
FY25 FY25 FY25 FY25 FY26 FY26 FY26 FY26 FY27 FY27 FY25 FY25 FY25 FY25 FY26 FY26 FY26 FY26 FY27 FY27 FY25 FY25 FY25 FY25 FY26 FY26 FY26 FY26 FY27 FY27
7 out of 10 quarters delivered high- 9 out of 10 quarters delivered teens or 8 out of 10 quarters delivered teens or
single digit volume growth higher CCG higher revenue growth
Sustained Track Record of Consistent Outperformance across India and International Markets
Parachute accelerates growth, while VAHO continues on its strong growth momentum
Parachute Coconut Oil Saffola Edible Oils Value Added Hair Oils
(34% of India Revenues) (16% of India Revenues) (18% of India Revenues)
13% ~1% High Single 6% 80 bps 21%
Digit Volume
Q2 Volume Growth Q2 Value Growth Q2 Value Growth MAT Value MS Gain Q2 Value Growth
Decline
Highest in 22 quarters
Portfolio contribution is based on TTM
Saffola Foods sustains healthy growth, while acquisitions accelerate sequentially
₹ 1500+ Crore
Annualised Revenue Run-rate
Q2 Value Growth
Premium Personal Care (incl. Digital-First) continues its strong momentum
Premium Personal Care Digital-First Premium Personal Care
₹ 500+ Crore ~₹ 1150 Crore
Annualised Revenue Run-rate Annualised Revenue Run-rate
SETU 2.0 | Building further competitive moats in India and Globally
Driving Execution Excellence Next phase of GTM transformation
1.5x+ ~2x
FY24 to FY27 exit FY24 to FY27 exit
INDIA
Direct Reach Deeper rural penetration AI enabled assortment Premium Foods and Digital-first brands
Scaled (stockist added) selling, gamification of Personal Care GTM in General Trade
sales call
Stronger sales rhythm, higher throughput and better assortment Continue to drive distribution expansion
Fit-for-purpose and Better assortment aiding Drive profitable growth and
01 02 03
THE SETU PLAYBOOK
fit-for-future GTM Model premiumization competitive advantage
SETU1.0 Global | India playbook now scaling internationally
Vietnam Bangladesh
GLOBAL
Direct Reach Expansion In-store execution AI-led selling Roll-out in early stages
Diversified market momentum drives robust International growth
Bangladesh Vietnam MENA South Africa
5% 22% 15% 15%
Q2 CCG Q2 CCG Q2 CCG Q2 CCG
Resilient performance amidst Healthy Growth across portfolio
Strong performance supported by Acceleration in growth
persistent inflation and on a high and sustained acceleration in E-
focused execution momentum led by Hair Care
base Commerce
International business CCG : Q2 13% | H1 14%
Index
01 02 03 04
Operating Performance Outlook Financials
Environment Highlights
Near term: Consistently deliver top quartile outcomes across key performance metrics…
India Volume Growth (%) International Business CCG (%)
2Y CAGR HSD 2Y CAGR High Teens
DD Mid-Teens
FY25 FY26 FY27E FY25 FY26 FY27E
Expect Double-digit (DD) volume growth in FY27 Sustain Mid-teens CCG in FY27
Consolidated Revenue Growth (%) Consolidated EBITDA Growth (%)
2Y CAGR High Teens 2Y CAGR High Teens
FY25 FY27E FY25 FY27E
Teens revenue growth, ₹15,000+ Cr. in FY27 Mid-twenties EBITDA growth in FY27
…backed by sharp execution, strong capabilities and strategic clarity
Copra tailwinds Supply Chain & Higher profit uplift Scaling Premium Institutionalized
Pricing Power of
alleviating other Back-end driven by Foods & Categories in Cost Management
Core Brands
input cost inflation Capabilities PPC* scale-up Overseas Markets Program
Leveraging strong Softening copra Robust sourcing in Tapping synergies Driving scale Structural cost
equity of our prices to mitigate core commodities and economies of across markets savings driven
market leader crude-linked cost & supply chain scale through premium through ‘MarVal’
brands inflation intelligence categories program
*PPC - Premium Pe
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