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Marico Results: Latest Quarterly Results & Analysis

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Marico Ltd. 04 Aug 2025 16:23 PM
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Q1FY26 Quarterly Result Announced for Marico Ltd.

Personal Products company Marico announced Q1FY26 results

  • Revenue from Operations: Rs 3,259 crore compared to Rs 2,643 crore during Q1FY25, change 23%.
  • EBITDA: Rs 655 crore compared to Rs 626 crore during Q1FY25, change 5%.
  • PBT: Rs 656 crore compared to Rs 605 crore during Q1FY25, change 8%.
  • PAT: Rs 504 crore compared to Rs 464 crore during Q1FY25, change 9%.
  • India 9% Volume Growth.
  • International 19% Constant Currency Growth
  • International Business Revenues up 12% (in INR terms) due to currency headwinds

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Personal Products company Marico announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenue from Operations was at Rs 2,730 crore, up 20% YoY, with underlying volume growth of 7% in the India business and constant currency growth of 16% in the international business.
  • India Volume and Revenue Growth were at a 14-quarter high.
  • International business sustains robust double-digit growth momentum.

FY25 Financial Highlights:

  • Revenue from Operations was at Rs 10,831 crore, up 12% YoY, with underlying volume growth of 5% in the India business and constant currency growth of 14% in the international business.
  • Foods and Premium Personal Care touch Rs 2,000 crore ARR
  • FY25 Reported Net Profit up 10%.

Result PDF

Personal Products company Marico announced Q2FY25 results

Financial Highlights:

  • Revenue from Operations was at Rs 2,664 crore, up 8% YoY, with underlying volume growth of 5% in the domestic business and constant currency growth of 13% in the international business.
  • Domestic revenue was Rs 1,979 crore, up 8% YoY.
  • EBITDA Rs 522 crore, change 5% compared to Q2FY24.
  • EBITDA Margin (%) 19.6%
  • PAT: Rs 388 crore, change 10%, compared to Q2FY24.

Other Highlights:

  • Parachute Rigids registered 4% volume growth, after absorbing the impact of ml-age reduction in one of the key price-point packs implemented in lieu of a price increase. Volume offtakes grew in high single digits, resulting in ~120 bps gain in market share on MAT basis.
  • Value-Added Hair Oils declined 8% YoY in value terms amidst persistent sluggishness and competitive headwinds in the bottom of the pyramid segment. The franchise gained ~110 bps in value market share during the quarter, as mid and premium segments of the franchise fared relatively better.
  • Saffola Edible Oils delivered flattish volumes, while revenues grew 2% YoY after the pricing cycle for the brand turned slightly favorable after 8 quarters.
  • Foods posted robust 28% value growth YoY and crossed Rs 1,000 crore. in ARR in Q2. Saffola Oats delivered mid teen growth, while the relatively newer franchises also fared healthily.
  • Premium Personal Care continued its strong run during the quarter, led by the Digital-first portfolio.
  • he composite revenue share of Foods and Premium Personal Care (including Digital-first brands) in the domestic business moved up to ~21% in H1.
  • The EBITDA margin of the domestic business was at 20.1%, down ~150 bps YoY, and that of the International business was at 27.0%, up ~190 bps YoY.

Saugata Gupta, MD & CEO, said, “We closed the first half of the fiscal on a fairly positive note with the growth trajectory of the business heading in the right direction. We have delivered healthy volume-led revenue growth in the domestic business buoyed by sustained market share and penetration gains across core portfolios. Foods and Digital-first brands continued to ramp up impressively and reinforce the diversification agenda. The international business has exhibited remarkable strength despite challenging operating conditions in select markets. We will take calibrated pricing actions in response to the rising trend in input costs, while focusing on achieving our stated growth aspirations for the year.”

Result PDF

Personal Products company Marico announced Q1FY25 results:

  • Revenue from Operations: Rs 2,643 crore, representing a 7% increase compared to Rs 2,477 crore in Q1FY24.
  • EBITDA: Rs 626 crore, reflecting a 9% growth from Rs 574 crore in Q1FY24.
  • EBITDA Margin: Improved to 23.7%, up by 50 basis points from 23.2% in Q1FY24.
  • Reported PAT: Rs 464 crore, a 9% increase from Rs 427 crore in Q1FY24.
  • Recurring PAT: Rs 464 crore, up by 12% from Rs 416 crore in Q1FY24.
  • Domestic Volume Growth moves up to 4%
  • Foods and Digital-first portfolios sustain accelerated scale up
  • International business delivers broad-based 10% CCG

Saugata Gupta, MD & CEO, commented, “The new fiscal has started on a promising note for both the domestic and international businesses with revenue growth visibly turning a corner. We expect to sustain the improving trajectory in the core domestic business on the back of consistent market share and penetration gains coupled with the ongoing initiatives to revive growth in traditional trade and expand direct reach under Project SETU. We will also maintain steadfast focus on the profitable scale up of the Foods and Digital-first brands. The international business has been veritably consistent over the last few years and is expected to maintain its double-digit constant currency growth momentum. We will aim to deliver on each of the key performance parameters and drive healthy revenue-led earnings growth in the near and medium term.“

Result PDF 

Personal products company Marico announced Q4FY24 results:

Financial Highlights:

  • In Q4FY24, Revenue from Operations was at Rs 2,278 crore, up 2% YoY, with underlying volume growth of 3% in the domestic business and constant currency growth of 10% in the international business.
  • Domestic revenue was flattish at Rs 1,680 crore, as pricing corrections in key portfolios anniversarized to a larger extent on a sequential basis.
  • Gross margin expanded by 420 bps YoY, owing to softer input costs and favourable portfolio mix.
  • A&P spends was up 8% YoY.
  • EBITDA margin stood at 19.4%, up 186 bps YoY and EBITDA grew by 12%. PAT was up 14%, as the impact of lower Other Income was offset by lower tax charge.
  • Parachute Rigids registered 2% volume growth.
  • Value-Added Hair Oils declined 7% in value terms on a high base (13% growth in Q4FY23) amidst persistent sluggishness in the bottom of the pyramid segment.
  • Saffola Edible Oils registered mid-single digit volume growth.
  • Foods logged 24% value growth YoY, closing the year at ~4x of its scale in FY20.
  • Bangladesh registered 8% CCG (constant currency growth)
  • South-East Asia was flat in CC terms, amidst slower HPC demand in Vietnam. 
  • South Africa registered 13% CCG driven by the ethnic hair care segment. NCD and Exports posted 34% growth.

Saugata Gupta, MD & CEO, commented, “We have closed FY24 on a promising note, delivering our highest-ever annual operating margin with sequential improvement in both the domestic and international businesses. In the domestic business, we expect a gradually improving growth trajectory in the core categories through ongoing initiatives to enhance GT channel partner profitability and transformative expansion in direct reach via Project SETU, while we aggressively drive the profitable scale up of Foods and Digital-first brands. As the Bangladesh business regained its momentum, the ramp up in the MENA and South Africa businesses has visibly strengthened the growth construct of the International business. We will aim to deliver healthy revenue-led earnings growth in the near and medium term, aided by the positively evolving operating environment.”

Result PDF

Personal Products company Marico announced Q3FY24 results:

  • Revenue from operations amounted to Rs 2,422 crore, indicating a slight YoY decrease of 2%.
  • EBITDA for Q3FY24 reached Rs 513 crore, showcasing a positive YoY growth of 13%.
  • EBITDA margin for Q3FY24 was 21.2%, reflecting a significant improvement of 272 basis points (bps) compared to the same period last year.
  • Profit After Tax stood at Rs 383 crore, demonstrating a substantial YoY growth of 17%.
  • Volume growth of 2% in the domestic business and constant currency growth of 6% in the international business.
  • Gross margin expanded by 634 bps YoY, ahead of expectations, owing to softer input costs and favourable portfolio mix.
  • A&P spends was up 12% YoY, up 125 bps as a % of sales, as the Company stayed focused on strategic brand building of core and new businesses.

 

 

Result PDF

Personal Products company Marico announced Q2FY24 & H1FY24 results:

  • Q2FY24:
    • Revenue from Operations: Rs 2,476 crore (1% decrease YoY)
    • EBITDA: Rs 497 crore (15% increase YoY)
    • EBITDA Margin: 20.1% (Up 272 bps YoY)
    • Profit After Tax (excl. one-offs): Rs 353 crore (17% increase YoY)
    • Domestic Volume Growth: 3%
    • International Business (% CCG): 13%
  • H1FY24:
    • Revenue from Operations: Rs 4,953 crore (2% decrease YoY)
    • EBITDA: Rs 1,071 crore (12% increase YoY)
    • EBITDA Margin: 21.6% (Up 263 bps YoY)
    • Profit After Tax (excl. one-offs): Rs 769 crore (14% increase YoY)
    • Domestic Volume Growth: 3%
    • International Business (% CCG): 11%

Saugata Gupta, MD & CEO, commented, “The domestic and overseas businesses have delivered a fairly resilient performance amidst a challenging operating environment in the first half of the fiscal. We have made substantial progress towards achieving the diversification objective set for the year with Foods and Digital-First portfolios scaling up on expected lines. We are also on-course to deliver robust gross and operating margin expansion this year, even while ramping up brand building investments to strengthen the equity of our franchises. We continue to hold the aspiration of exhibiting an improvement across key performance parameters on a full year basis.”

 

Result PDF

Personal products company Marico announced Q1FY24 results:

  • Revenue from operations of Rs 2,477 crore, down 3% YoY
  • EBITDA of Rs 574 crore, up 9% YoY
  • EBITDA margin of 23.2%, Up 253 bps
  • Profit after tax (excl. one-offs) of Rs 416 crore, up 12% YoY
  • Domestic volume growth (%) of 3%
  • International business (% CCG) of 9%
  • Domestic revenue was at Rs 1,827 crore, down 5% on a YoY basis

Saugata Gupta, MD & CEO, commented, “The year has started on a mixed note with domestic volume growth marred by one-offs, while the international business was resilient in a challenging environment. However, we remain confident of an improving trajectory of growth in the domestic business and sustained momentum in the international business. We have delivered robust margin expansion on the back of a softening input cost environment and expect to deliver healthy profitability this year. We will continue to drive sustainable and profitable volume-led growth by maintaining focus on our strategic priorities of diversification, go-to-market transformation, digital capability building, and fostering an inclusive organizational culture.”

 

 

Result PDF

Personal products firm Marico announced Q4FY23 results:

  • Revenue from Operations grew by 4% YoY to Rs 2,240 crores with underlying volume growth of 5% in the domestic business and constant currency growth of 16% in the international business.
  • Volume growth on a 4-year CAGR basis stood at 6%. Domestic revenues was at Rs 1,683 crore, up 2% YoY
  • Gross margin expanded by 294 bps YoY and 247 bps sequentially, given the moderation in key commodity prices and favorable portfolio mix in the India business.
  • A&P spends was at 9.4% of sales in Q4, up 3% YoY and up 8% on 4-year CAGR basis, as the Company prioritized investments towards strategic brand building of core and new franchises. EBITDA grew by 14% YoY, with EBITDA margin expanding 153 bps to 17.5%
  • Reported PAT was up 20% YoY, aided by higher ‘Other Income’, which includes one-time gain of Rs 28 crore on sale of land in one of the overseas locations. Recurring PAT was up 12%.

Saugata Gupta, MD & CEO, commented, “FY23 ended on a reassuring note with improving trends across all performance parameters, accompanied by indications of a gradual sectoral recovery. The domestic business delivered a far more broad-based growth with visibly positive results in the portfolio diversification journey, while the international business continued to reinforce its underlying strength amidst a challenging operating environment. As we move into next year, we expect the pace of growth in volumes, revenues and earnings to move in the right direction, aided by an evolving portfolio of entrenched and budding franchises, distribution expansion and adequate investments in market development and brand building.”

 

 

Result PDF

FMCG company Marico announced Q3FY23 results:

Q3FY23:

  • Consolidated revenue up 3%
  • Domestic volume growth resilient at 4%
  • International business maintains robust momentum
  • Gross and EBITDA margins expanded more than 100 bps sequentially
  • EBITDA up 6% YoY; PAT up 6% YoY
  • Revenue from operations grew by 3% YoY to Rs 2,470 crores with underlying volume growth of 4% in the domestic business and constant currency growth of 8% in the international business.
  • Gross margin expanded 123 bps YoY and 131 bps sequentially. A&P spends 8.9% of sales, which was up 3% sequentially.
  • EBITDA margin stood at 18.5%, up 55 bps YoY and 111 bps sequentially. EBITDA was up 6% YoY.
  • PBT growth perked up to 9% owing to higher other income. PAT was up 6% YoY because of the higher effective tax rate (ETR).

Saugata Gupta, MD & CEO, commented, “The quarter was characterized by improving trends in topline and earnings growth as the domestic business witnessed emerging signs of a gradual demand revival, while the international business stood its ground amidst macro headwinds in some markets. It was reassuring to see continued market share and penetration gains in most of our key portfolios and sustained growth momentum in new franchises. As the operating environment is expected to evolve favorably, we will aim to maintain an upward trajectory across growth parameters in the quarters ahead through consistent investment in our brands and focus on execution.”

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