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Marico Ltd
on Friday reported a steady operating performance for the December quarter, with its India business delivering high-single-digit underlying volume growth and the international portfolio recording robust constant-currency growth in the early twenties, according to a regulatory filing.
The company said demand trends during the quarter remained stable, with a gradual improvement in consumption expected in the coming periods, supported by easing inflation, lower goods and services tax rates, minimum support price hikes and a healthy crop sowing season.
In the domestic market, Marico said underlying volume growth in India improved sequentially. Parachute continued to show resilience despite elevated input costs and pricing actions. While the brand saw a marginal volume decline, volumes turned positive after normalising for pack size reductions implemented in lieu of price hikes.
Saffola Oils witnessed a muted quarter as prior pricing actions anniversarised during the period. However, Value Added Hair Oils posted growth in the twenties, reinforcing sustained traction in the franchise. The company said it expects to maintain double-digit growth momentum in this segment over the near to medium term, aided by its focus on mid and premium products, improved direct reach through Project SETU and recent GST rate rationalisation.
The foods portfolio recorded a benign quarter but is expected to return to accelerated growth over the next two quarters, while Premium Personal Care, including digital-first brands, continued to scale ahead of internal aspirations.
Marico’s international business maintained strong momentum, with constant-currency growth in the early twenties. Bangladesh led performance during the quarter, while Vietnam and South Africa returned to double-digit growth on the back of targeted initiatives, the company said.
On a consolidated basis, revenue growth stood in the high twenties year-on-year, keeping the company on track to meet its full-year aspirations.
On the cost front, Marico said copra prices have corrected by around 30% from their highs and are expected to trend lower in the coming months, aided by the flush season. While vegetable oil prices remained elevated, crude oil derivatives stayed benign. As a result, the company expects a sequential improvement in gross margins after bottoming out in the previous quarter, with further gains likely from the lagged pass-through of lower copra costs.
Marico added that it continued to invest in brand building to strengthen long-term franchise equity and support portfolio diversification. Against this backdrop, the company expects operating profit growth to touch double digits on a year-on-year basis in Q3 FY26.
Ahead of the announcement, shares of Marico Ltd closed at ₹758 on the NSE, down 0.32%.
The company said demand trends during the quarter remained stable, with a gradual improvement in consumption expected in the coming periods, supported by easing inflation, lower goods and services tax rates, minimum support price hikes and a healthy crop sowing season.
In the domestic market, Marico said underlying volume growth in India improved sequentially. Parachute continued to show resilience despite elevated input costs and pricing actions. While the brand saw a marginal volume decline, volumes turned positive after normalising for pack size reductions implemented in lieu of price hikes.
Saffola Oils witnessed a muted quarter as prior pricing actions anniversarised during the period. However, Value Added Hair Oils posted growth in the twenties, reinforcing sustained traction in the franchise. The company said it expects to maintain double-digit growth momentum in this segment over the near to medium term, aided by its focus on mid and premium products, improved direct reach through Project SETU and recent GST rate rationalisation.
The foods portfolio recorded a benign quarter but is expected to return to accelerated growth over the next two quarters, while Premium Personal Care, including digital-first brands, continued to scale ahead of internal aspirations.
Marico’s international business maintained strong momentum, with constant-currency growth in the early twenties. Bangladesh led performance during the quarter, while Vietnam and South Africa returned to double-digit growth on the back of targeted initiatives, the company said.
On a consolidated basis, revenue growth stood in the high twenties year-on-year, keeping the company on track to meet its full-year aspirations.
On the cost front, Marico said copra prices have corrected by around 30% from their highs and are expected to trend lower in the coming months, aided by the flush season. While vegetable oil prices remained elevated, crude oil derivatives stayed benign. As a result, the company expects a sequential improvement in gross margins after bottoming out in the previous quarter, with further gains likely from the lagged pass-through of lower copra costs.
Marico added that it continued to invest in brand building to strengthen long-term franchise equity and support portfolio diversification. Against this backdrop, the company expects operating profit growth to touch double digits on a year-on-year basis in Q3 FY26.
Ahead of the announcement, shares of Marico Ltd closed at ₹758 on the NSE, down 0.32%.
