Consumer goods major Marico on Tuesday reported in-line March quarter Q4 earnings, aided by strong volume growth in its India business, even as elevated input costs kept margins under pressure.
The maker of Parachute and Saffola posted a 14% rise in Q4 consolidated net profit to Rs 391 crore from Rs 343 crore reported a year earlier. Street estimates had forecast Q4 bottomline at Rs 392 crore. Consolidated revenue for the quarter came in at Rs 3,333 crore, up 22% year-on-year, and in line with analysts’ estimates of Rs 3,325 crore for the period.
Consolidated earnings before interest tax depreciation and amortisation (Ebitda) in Q4 rose 13.8% to Rs 521 crore from Rs 458 crore reported a year ago. Analysts’ estimates had pegged Q4 Ebitda at Rs 534 crore. Ebitda margins, however, contracted 120 basis points to 15.6% in Q4 versus 16.8% reported last year amid higher raw material costs.
The board recommended a final dividend of Rs 4 per equity share for FY26.
Underlying volume growth of 9% in the March quarter
The company’s India business delivered underlying volume growth of 9% in the March quarter, up sequentially and marking one of its strongest quarterly performances in recent years. India revenues rose 21% year-on-year to Rs 2,505 crore, with Marico saying over 95% of its portfolio either gained or sustained market share during the period.
International business remained another key growth driver, posting 19% constant currency growth during the quarter and 25% growth in rupee terms. Bangladesh delivered 35% constant currency growth, while Vietnam grew 18%. The Middle East and North Africa region declined 7% amid geopolitical disruptions in the Gulf.
Among key categories, Parachute coconut oil posted 29% revenue growth, while value-added hair oils grew 26%. Saffola edible oils grew 8%, driven by mid-single digit volume growth. Marico’s foods portfolio grew 16% during the quarter and crossed the Rs 1,000 crore annual revenue milestone in FY26.
For the full financial year FY26, Marico reported revenue of Rs 13,611 crore, up 26% year-on-year, the company’s highest annual growth in 14 years. Ebitda rose 9% y-o-y to Rs 2,328 crore, while profit after tax increased 11% y-o-y to Rs 1,762 crore. India volume growth for the year stood at 8%, while international business delivered 20% constant currency growth.
Looking ahead, MD & CEO Saugata Gupta said the company expects to maintain high single-digit volume growth in India in FY27 and mid-teen constant currency growth in international markets, while targeting revenue of over Rs 15,000 crore next year. Marico also reiterated its long-term goal of crossing Rs 20,000 crore in revenue by FY30.