Marico acquires full stake in True Elements, strengthens healthy foods portfolio

Marico Ltd has completed the acquisition of the remaining 46.02% stake in HW Wellness Solutions Pvt Ltd, the maker of the True Elements brand, for up to ₹138 crore, making it a wholly owned subsidiary. The transaction was finalised on October 17, 2025, raising Marico’s holding from 53.98% to 100%.

Marico had first invested in HW Wellness in May 2022 to strengthen its presence in the healthy breakfast and snacking segment. Founded in 2013 and based in Pune, HW Wellness’ revenue surged to ₹164.4 crore

in FY25 from ₹76.4 crore in FY24, reflecting rapid growth in the digital-first packaged food space.

Meanwhile, Marico said its consolidated revenue for the September quarter (Q2 FY26) is expected to grow in the “thirties” year-on-year, aided by strong international performance and GST rate cuts across parts of its India portfolio. The maker of Parachute and Saffola expects modest operating profit growth, supported by stable demand and improving festive sentiment.

In the year-ago period, the company reported a 7.6% rise in revenue to ₹2,664 crore and a 20.3% increase in consolidated net profit to ₹433 crore. Marico added that its foods and premium personal care divisions continued to scale rapidly, while international business maintained constant currency growth in the twenties.

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