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India
Reported ownership for FY2027-Q1 as of 2026-06-30.
As of 06 Nov 2026, 03:30 pm
Marico has advanced its ₹20,000 crore revenue target to FY29 and raised its FY27 Ebitda margin outlook to the mid-20% range. The company aims to achieve ₹20,000 crore in annual revenue by 2030, driven by premiumisation, digital-first businesses, and international expansion. Management expects overall mid-teens growth, with the digital segment targeting double-digit EBITDA margins by the end of FY27.
Marico is monitoring the impact of a deficient monsoon on rural demand but expects growth momentum to sustain. While rising agricultural and crude oil costs have flagged margin pressure for some peers, Marico reported reduced input costs in the September quarter, contributing to strong double-digit revenue and profit growth. Analysts have retained 'Buy' ratings, citing improving international performance and robust quarterly results.
The Board appointed Mr. Rohit Jawa as an Additional Director on November 2, 2026, with shareholders voting via postal ballot from November 8 to December 7, 2026, for his appointment as Independent Director effective January 1, 2027. Additionally, Rajan Bharti Mittal was appointed Lead Independent Director on November 2, 2026. Marico also acquired a 24.09% stake in Plix under definitive agreements dated October 5, 2026.
As of November 6, 2026, Marico closed at ₹897.75, up 1.1% from the previous close. The stock shows bullish trends across daily, weekly, and monthly timeframes, with resistance levels at ₹902.78 and ₹908.57, and support at ₹895.27 and ₹889.48. Year-to-date returns stand at +18.1%, with a one-year return of +25.9% and annualized volatility of +20.5%.
As of 06 Nov 2026, 03:30 pm
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Trading activity was substantially higher than usual and the price closed higher.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
The session opened materially below the previous close, indicating a sharp repricing at the open.
The price gap may increase short-term downside uncertainty and warrants review of the underlying context.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
Latest complete financial results for Q2 FY27 and comparative quarterly trends.
| Metric | Q2 FY26 | Q1 FY27 | Q2 FY27(Latest) |
|---|---|---|---|
| Revenue From Operations | ₹3,482 crore | PEAK₹3,957 crore | ₹3,897 crore |
| Expenses | ₹2,981 crore | ₹3,215 crore | PEAK₹3,276 crore |
| Profit Before Exceptional Items And Tax | ₹550 crore | PEAK₹790 crore | ₹674 crore |
| Profit Loss For Period | ₹432 crore | PEAK₹652 crore | ₹558 crore |
| Tax Expense | ₹118 crore | PEAK₹138 crore | ₹116 crore |
| Finance Costs | ₹12 crore | ₹21 crore | PEAK₹24 crore |
Marico reported consolidated revenue from operations of ₹3,897 crore for Q2 FY2026-27, up 11.9% year on year but down 1.5% from Q1 FY2026-27. Profit before tax fell 14.7% sequentially to ₹674 crore and profit for the period declined 14.4% to ₹558 crore, though both remained above their year-earlier levels.
Revenue was ₹3,897 crore, compared with ₹3,957 crore in Q1 FY2026-27 and ₹3,482 crore in Q2 FY2025-26. Expenses rose 1.9% sequentially to ₹3,276 crore and were 9.9% higher year on year, against revenue growth of 11.9%.
The recent quarterly revenue pattern was uneven: revenue was ₹3,537 crore in Q3 FY2025-26 and ₹3,333 crore in Q4 FY2025-26, before rising to ₹3,957 crore in Q1 FY2026-27.
Q2 FY2026-27 combined year-on-year revenue and profit growth with a sequential decline in revenue and a sharper fall in profit. The increase in assets, current liabilities, inventory and receivables since 31 March 2026 also marked a substantial shift in the balance-sheet position during the period.
Exchange disclosures and regulatory announcements for Marico.
Marico Limited published a postal ballot notice in Business Standard (English) and Navshakti (Marathi) on November 7, 2026, and said it was making the notice available on its website. The notice seeks shareholder approval by special resolution for appointing Mr. Rohit Jawa (DIN: 10063590) as an Independent Director. Remote e-voting runs from November 8, 2026 at 9:00 a.m. IST to December 7, 2026 at 5:00 p.m. IST; results are to be announced on or before December 9, 2026. The publication disclosure is routine; the underlying notice concerns a proposed board appointment, not a completed appointment.
Marico Limited has issued a Postal Ballot Notice seeking shareholder approval via Special Resolution for the appointment of Mr. Rohit Jawa (DIN: 10063590) as an Independent Director, effective January 1, 2027. The Board had provisionally appointed Mr. Jawa as an Additional Director on November 2, 2026, following recommendations from the Nomination and Remuneration Committee. The remote e-voting period is scheduled from November 8, 2026, to December 7, 2026, with results to be declared by December 9, 2026. Mr. Jawa’s proposed term is five consecutive years (ending December 31, 2031), not liable to retire by rotation.
Marico Limited has filed a notice with the NSE regarding a Postal Ballot scheduled for November 8, 2026, to seek shareholder approval via Special Resolution for the appointment of Mr. Rohit Jawa (DIN: 10063590) as an Independent Director. The resolution pertains to the FY 2026-27 period, with the voting window closing on December 7, 2026. If approved, Mr. Jawa’s tenure as Non-Executive - Independent Director will commence on January 1, 2027, and conclude on December 31, 2031.
Marico Limited filed the transcript of its Q2 FY27 earnings conference call held on November 2, 2026, pursuant to SEBI Regulation 30. The company reported strong financial performance for the quarter and half-year ended September 30, 2026, with consolidated revenue growing 13% (driven by 10% volume growth in India and 13% constant currency growth internationally), EBITDA increasing 27%, and PAT rising 31%. Management upgraded full-year guidance, expecting teens revenue growth, mid-twenties EBITDA growth, and a comfortable crossing of the INR 15,000 crore revenue mark. The company also preponed its INR 20,000 crore revenue target from FY30 to FY29. Key operational highlights included Parachute achieving 13% volume growth and 60% market share, Foods crossing an annualized run rate of INR 1,500 crores, and digital-first brands reaching approximately INR 1,150 crores.
Marico Limited completed the acquisition of a further 20% of Cosmix Wellness Private Limited’s paid-up share capital on November 6, 2026, increasing its aggregate stake from 60% to 80%. The cash consideration was Rs. 113.65 crores. Marico stated that the acquisition is a related party transaction on an arm’s length basis; the promoter/promoter group has no interest in the transaction. Marico may acquire the remaining stake after completion of FY29, subject to milestones, requisite approvals and the definitive agreements.
Marico Limited entered into definitive agreements with the founders of Bonorizon Consumer Ventures Private Limited for a strategic venture, under which Marico will acquire 51% of Bonorizon’s equity share capital and voting rights through a cash primary subscription for aggregate consideration of up to Rs. 35 Crores. The acquisition is subject to customary closing conditions and is expected to be completed within 90 days of signing. Marico may acquire the remaining equity and voting rights after three years from signing, subject to milestones, requisite approvals and the definitive agreements; consideration would be determined at that time. Bonorizon and its wholly owned subsidiary, Bonorizon Consumer Ventures LLC, are in FMCG and consumer products. The acquisition is not a related-party transaction, and Marico’s promoter/promoter group has no interest in it. The filing states that no governmental or regulatory approvals are required.
Marico Limited completed the acquisition of an additional 20% stake in Cosmix Wellness Private Limited, increasing its aggregate holding from 60% to 80%. The transaction, valued at Rs. 113.65 Crores paid in cash, was approved by the Board and Audit Committee on October 14, 2026, and closed on November 6, 2026. The acquisition is classified as a Related Party Transaction conducted at arm's length. Cosmix Wellness, a digital-first functional wellness brand incorporated in January 2022, reported turnover of Rs. 91.53 Crores for FY 2025-2026 and profit after tax of Rs. 12.45 Crores. Marico retains an option to acquire the remaining 20% stake after FY 2029, subject to milestone achievement.
Marico Limited agreed to acquire 51% of Bonorizon Consumer Ventures Private Limited (“Bonorizon”) and its wholly owned subsidiary, Bonorizon Consumer Ventures LLC, for aggregate cash consideration of up to Rs. 35 Crores. The transaction is expected to be completed within 90 days from signing definitive agreements, subject to customary closing conditions. Marico also has a right, after three years from signing, to acquire the remaining equity and voting rights at a price to be determined then, subject to milestones, requisite approvals and the definitive agreements. Marico stated the venture aligns with its strategy to accelerate digital growth in international markets. This is a substantive acquisition announcement, not a routine notice.
Recent market and company developments associated with Marico.
Marico has signed definitive agreements to acquire a 51% stake in Bonorizon Consumer Ventures for up to ₹35 crore through a primary subscription, with the transaction expected to close within 90 days. The move is intended to strengthen Marico's international growth strategy and digital expansion by leveraging Bonorizon's capabilities in the FMCG sector. Marico retains an option to purchase the remaining stake after three years, subject to milestone achievement and approvals.
India's major FMCG companies, including Hindustan Unilever, Emami, Marico, and ITC, are leveraging established brand trust to expand into new product categories such as protein nutrition, baby care, specialized hair care, and health-focused snacks. This strategy aims to capitalize on shifting consumer preferences and existing distribution networks, with firms reporting strong early traction and robust quarterly financial performance across these diversified segments.
Nomura has flagged potential margin pressure for stocks including GCPL, HUL, and paint companies due to rising agricultural and crude oil costs. In response to these headwinds, the brokerage has expressed a preference for Marico and Tata Consumer.
Marico is monitoring the potential impact of a deficient monsoon on rural demand, though it expects growth momentum to sustain. This outlook aligns with September-quarter results from major FMCG companies, which indicate resilient consumption despite inflationary pressures and uneven rainfall across parts of the country.
Marico reported strong double-digit revenue and profit growth in the September quarter, driven by robust demand in its foods and premium personal care segments alongside reduced input costs. Consequently, the company raised its FY27 Ebitda margin outlook to the mid-20% range and advanced its ₹20,000 crore revenue target to FY29, citing improving international performance and expansion initiatives. Analysts have retained 'Buy' ratings on the stock, which rallied 9.4% following the announcement.
Marico aims to achieve ₹20,000 crore in annual revenue by 2030, with Managing Director and CEO Saugata Gupta expressing an aspiration to reach this target a year earlier. The company plans to drive growth through digital-first businesses, premiumisation, and international expansion, targeting mid-teens overall growth while expecting its digital segment to deliver double-digit EBITDA margins by the end of FY27.
Foreign institutional investors recorded their largest single-day net purchase of 2026, injecting nearly ₹6,900 crore into Indian equities on November 3 as the Sensex and Nifty extended their rally for a fourth consecutive session. While domestic institutional investors remained net sellers with outflows of ₹3,678.85 crore, the buying surge contributed to significant gains in sectors such as fast-moving consumer goods and capital markets. Market participants note that foreign inflows may continue to support valuations as corporate earnings improve.
The Nifty index closed above 23,800 for the first time since August 2026, driven by falling crude prices and strong corporate earnings, while the Sensex rose 1.62 per cent. The Indian rupee extended gains against the US dollar, though crude oil rebounded on geopolitical reports, sustaining market volatility.
Comprehensive Section Breakdown for Marico
Strategic Vision: Indian multinational consumer goods company in beauty and wellness.
• Established presence in the Indian market
• Operations across over 25 countries in Asia and Africa
Profit before tax decreased by ₹116 crore from ₹790 crore in Q1 FY2026-27 to ₹674 crore in Q2. Profit for the period fell by ₹94 crore, from ₹652 crore to ₹558 crore. Finance costs increased to ₹24 crore from ₹21 crore, while tax expense declined to ₹116 crore from ₹138 crore.
Year on year, profit before tax rose from ₹550 crore in Q2 FY2025-26, while profit for the period increased from ₹432 crore. The sequential declines followed the higher Q1 FY2026-27 results.
At 30 September 2026, total assets were ₹12,378 crore, compared with ₹10,075 crore at 31 March 2026 and ₹8,679 crore at 30 September 2025. Total equity stood at ₹5,060 crore, including ₹4,735 crore attributable to owners of the parent; total equity was ₹4,494 crore at 31 March 2026.
Total liabilities increased to ₹7,318 crore from ₹5,581 crore at 31 March 2026. Current liabilities rose to ₹6,388 crore from ₹4,101 crore, while noncurrent liabilities declined to ₹930 crore from ₹1,480 crore.
Inventories increased to ₹2,297 crore from ₹1,611 crore at 31 March 2026. Trade receivables rose to ₹1,705 crore from ₹1,304 crore, and trade payables to ₹2,186 crore from ₹1,634 crore. Cash and cash equivalents were ₹336 crore, down from ₹404 crore at 31 March 2026 and ₹419 crore at 30 September 2025. Property, plant and equipment was ₹1,104 crore, compared with ₹1,090 crore at 31 March 2026.
Category: Consumer Goods
This segment encompasses products in the beauty and wellness categories, including hair care, skin care, male grooming, and health foods.
Category: Consumer Goods
This segment includes products related to fabric care and potentially other household and personal care items.
Category: Consumer Goods
This segment focuses on the production and sale of edible oils.
Core Thesis: The company leverages its diverse product portfolio across beauty, wellness, and household categories to reach a broad consumer base.
• Product Diversification: Marico offers a wide range of products including hair care, skin care, edible oils, health foods, male grooming, and fabric care. • Market Reach: The company has a significant presence in the Indian market and extends its operations to over 25 countries across Asia and Africa.