Marico Ltd delivered a better-than-expected performance in the December quarter, with profit and operating earnings surpassing Street estimates on the back of strong revenue growth across India and overseas markets.
Net profit rose 13.3% year-on-year to ₹460 crore, ahead of the CNBC-TV18 poll estimate of ₹445 crore. Revenue jumped 26.6% to ₹3,537 crore, marginally higher than estimates, reflecting broad-based growth across categories and geographies.
EBITDA increased 11.1% year-on-year to ₹592 crore, also beating expectations, while margins stood at 16.7%, in line with estimates but lower than 19.1% a year ago, amid input cost pressures and investments behind growth.
India business remains resilient
India revenues grew 28% year-on-year, with over 95% of the portfolio gaining or sustaining market share and around 80% improving penetration on a MAT basis.
Parachute Coconut Oil, which contributes 36% of India revenues, saw 2% volume growth after normalising for ml-age reductions. Saffola edible oils, accounting for 16% of India revenues, reported a marginal decline in volumes.
International business delivers strong momentum
International revenues rose 24% year-on-year in rupee terms, with constant currency growth of 21% in Q3 and 20% for the nine months ended FY26, underlining steady demand across key markets.
Strategic moves sharpen portfolio
Earlier in the day, Marico announced a strategic investment in Zea Maize, the owner of premium snacking brand 4700BC. The company will acquire a 93.27% stake from PVR INOX for ₹227 crore, making Zea Maize a subsidiary. The 4700BC brand has seen rapid growth, with FY25 revenue at ₹98.66 crore.
Separately, Marico said it will integrate its digital-first Beardo business by voluntarily liquidating its wholly owned subsidiary Zed Lifestyle and transferring the undertaking to the parent company. The move is expected to drive operational synergies without materially impacting consolidated financials.
Outlook remains constructive
Marico said it remains on track to deliver double-digit EBITDA margins by FY27, with exit annual recurring revenue (ARR) expected to reach around 2.5x of FY24 levels, upgraded from earlier guidance.
