Please find enclosed an update on the operating performance and demand trends witnessed during the quarter ended March 31, 2026.
RESULTS
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 02 Apr 2026, 01:55 PM IST · BSE ID: beca9be5-475e-4dab-bb8e-873aa7db649c
View Original BSE Filing (PDF)
💡
In Simple Terms
Marico reported strong revenue growth of low twenties percent in Q4 FY26, with solid performance across most brands and international markets.
🤖 AI Summary
- Consolidated revenue grew in low twenties YoY during Q4 FY26, achieving mid-twenties full-year aspiration
- India business: high single-digit underlying volume growth; Parachute low single-digit post ml-age normalisation
- Value Added Hair Oils grew in twenties; Foods delivered high teens value growth; International high teens constant currency
- Copra prices corrected approximately 35% from peak; company expects sequential gross margin improvement
- Double-digit operating profit growth anticipated for quarter; detailed results pending Board approval
🔢 Key Numbers — exact figures from BSE filing, not rounded
Consolidated revenue growth Q4 FY26
Low twenties year-on-year
Full-year FY26 revenue growth aspiration
Mid-twenties
India business underlying volume growth
High single-digit
Value Added Hair Oils growth
Twenties
Foods segment value growth
High teens
International business constant currency growth
High teens
Copra price correction from peak
Approximately 35%
Operating profit growth Q4 FY26
Double-digit
🏢 How This Affects the Company
India business volume growth remained stable at high single-digit levels. Parachute demonstrated resilience with selective pricing actions and low single-digit volume growth post normalisation. Value Added Hair Oils sustained momentum in twenties growth trajectory. Foods segment advanced toward accelerated growth with high teens value growth. International business maintained stellar performance at high teens constant currency growth.
Consolidated revenue achieved low twenties growth enabling full-year mid-twenties aspiration. Copra price correction of approximately 35% from peak expected to drive sequential gross margin improvement. Company anticipates double-digit operating profit growth this quarter with sequential improvement, supported by pricing power of core franchises.
Brand building investments were sustained to strengthen long-term franchise equity and accelerate portfolio diversification. Project SETU enhanced direct reach for mid and premium segments. GST rate rationalization improved affordability across portfolio.
Gulf region impacted by ongoing geopolitical headwinds in March. Vegetable oils and crude-sensitive materials exhibit pronounced upward bias, requiring judicious exercise of franchise pricing power to maintain assured input availability.
👥 What This Means For Shareholders
✅
Action Required
Await Board approval and detailed Information Update filing for audited consolidated and standalone financial results for Q4 FY26.
👤
Who Is Affected
All shareholders holding Marico equity. Filing confirms company-wide operational performance across India and international segments.
🔍
Management Signal
Management reaffirms medium-term aspiration of sustainable profitable volume-led growth, with confidence in FY27 double-digit growth in core segments and healthy volume-led revenue growth overall.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Board approval and detailed Information Update filing with audited Q4 FY26 consolidated and standalone financial results
FY27 Q1 results — verify sustained high single-digit India volume growth and Parachute gradual pickup trajectory
Monitor copra price range-bound movement and vegetable oil input cost impact on gross margin trajectory
MEDIUM RISK
Geopolitical headwinds in Middle East impacting Gulf region. Vegetable oils and crude-sensitive materials face upward price bias. Parachute volume growth recovery remains gradual.
💡 Investor Takeaway
Q4 FY26 consolidated revenue grew in low twenties year-on-year, achieving full-year mid-twenties growth aspiration. Copra price correction of 35% drives sequential gross margin improvement. Double-digit operating profit growth anticipated. Detailed audited financial results pending Board approval.
⚖️ Strengths & Concerns
✅ Positives
- Value Added Hair Oils delivered growth in twenties; confidence in double-digit FY27 growth supported by strategic portfolio focus
- International business maintained high teens constant currency growth with positive contribution from each market except geopolitically impacted Gulf
⚠️ Concerns
- Parachute volume growth remained low single-digit post normalisation; sequential improvement only gradual expected over FY27
- Gulf region faced geopolitical headwinds in March; vegetable oils and crude-sensitive materials face pronounced upward price bias
📅 Company Track Record
FY24-25 turnover was ₹108.3 billion (USD 1.3 billion). Overseas portfolio contributes approximately 25% of Group revenue. Company touches approximately 1 in 3 Indians through diversified brand portfolio across beauty and wellness categories.
Based on publicly available historical data. For context only.