Marico has reported a consolidated revenue growth in the low twenties year-on-year for the fourth quarter of FY26, achieving its full-year aspiration of mid-twenties growth. This performance was driven by top-quartile volume growth, robust recovery in Value Added Hair Oils (VAHO), and strong momentum in the international business.
The India business recorded high single-digit underlying volume growth, with Parachute brand showing resilience through selective pricing actions amid easing copra prices. Saffola Oils experienced high single-digit revenue growth, while Value Added Hair Oils registered growth in the twenties, reinforcing sustained traction in the franchise. The Foods segment delivered high teens value growth, marking a progressive move towards accelerated growth.
The international business maintained its momentum with constant currency growth in the high teens, although the Gulf region faced challenges due to geopolitical headwinds in March. Despite this, Marico remains confident of delivering healthy volume-led revenue growth in FY27.
Copra prices corrected by approximately 35% from their peak, with expectations to remain rangebound. While vegetable oils and crude-sensitive materials show an upward bias, Marico plans to exercise pricing power to mitigate impacts and ensure availability of crude-linked inputs. The company anticipates sequential improvement in gross margin driven by easing copra prices.
Marico continues to invest in brand building to strengthen long-term equity and accelerate portfolio diversification, expecting double-digit operating profit growth with sequential improvement.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).