Marico sees sustained growth momentum, raises FY27 margin outlook

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The Economic Times daily newspaper is available online now. Read Today's Paper Marico sees sustained growth momentum, raises FY27 margin outlookBy Snehal Mergu, ET BureauLast Updated: Nov 04, 2026, 07:29:00 AM ISTSynopsis

Marico experienced significant revenue and profit growth in the September quarter due to robust demand. The company's foods and premium personal care segments led this growth, supported by reduced input costs. Marico raised its Ebitda margin outlook, anticipating continued strong demand in the future. International business performance is improving in markets such as Vietnam and the Middle East, contributing to overall growth.

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Loading...×ET Intelligence Group: Marico reported strong double-digit revenue and profit growth in the September quarter, driven by healthy demand across coconut oil, foods and premium personal care, while lower copra prices supported margins. Growth momentum is expected to remain strong, aided growth in foods and premium portfolios, improving international business performance and benign input costs, prompting the company to raise its Ebitda margin outlook to the mid-20% range from around 20% earlier. Marico shares rallied 9.4% on Tuesday to ₹873.2, ending at day's high. Analysts have retained 'Buy' ratings with a potential upside of 12-15% from Tuesday's close.

The Foods portfolio grew 45% year-on-year, crossing an annualised revenue run-rate (ARR) of ₹1,500 crore, driven by strong demand for Saffola foods and nutrition brands. Expansion in protein and nutrition categories are expected to drive growth for foods portfolio. Premium personal care growth was led by Beardo, Livon and Parachute Advansed Protein Shampoo. The shampoo portfolio's ARR is expected to cross ₹100 crore in its first year, with a medium-term aspiration of ₹400-500 crore. The digital-first businesses are expected to reach double-digit Ebitda margin by FY27.

Read more: NSE Q2 Results: Profit jumps 23% to Rs 2,578 crore, revenue rises 9%

Project SETU is expected to support growth by expanding Marico's direct retail reach and rural penetration, which will likely add 1-2% to annual volume growth. Improving performance in key overseas markets such as Vietnam, the Middle East and South Africa, along with a gradual recovery in Bangladesh, is likely to further strengthen growth momentum.

Read more: MCX Q2 Results: Profit rockets 130% YoY to Rs 455 crore, revenue jumps 114%

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The company expects to deliver double-digit volume growth in India and revenue growth in teens at the consolidated level, with annual revenue likely to surpass ₹15,000 crore from ₹13,611 crore in FY26. Marico has advanced its ₹20,000 crore revenue goal by a year to FY29 instead of FY30. The improved growth outlook has led the company to raise its FY27 Ebitda growth guidance to the mid-20% range from around 20% earlier.
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Read More News onmaricoMarico shares surgeEbitda margin outlookfoods portfolio growthcoconut oil demandSaffola revenue growthMarico revenue goal FY29Marico

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Read More News onmaricoMarico shares surgeEbitda margin outlookfoods portfolio growthcoconut oil demandSaffola revenue growthMarico revenue goal FY29Marico

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