Marico under tax cloud; IT survey done at premises

The income tax department conducted a survey at Marico’s premises led by its Mumbai unit, deploying around 200 officers. While details remain undisclosed, the move comes ahead of GST 2.0 rollout. Marico’s shares fell 1.59% even as it posted double-digit sales and profit growth in FY25.

Written by FE Bureau

September 17, 2025 19:58 IST

Marico, IT, income tax, industry, Shares of Marico, BSE

Marico closed FY25 with consolidated sales of Rs 10,831 crore, up 12% year-on-year, with underlying volume growth of 5%.

The income tax department on Wednesday conducted a nationwide survey operation at Marico’s premises, sources said. Details of the scope of the survey were not disclosed, but the Mumbai investigation wing of the IT Department was leading the operation, it is reliably learnt. The company was not available for comment when contacted.

Large-scale survey operation

As part of a survey operation, the tax department makes a surprise visit at the business premises of an entity under investigation. A survey operation is different from a raid which involves search and seizure. Some 200 income tax officers were deployed in the survey, sources said, which comes ahead of the rollout of the GST 2.0 tax reforms next week.

Market impact and financials

Shares of Marico were down 1.59% at the close of trade on Wednesday to Rs 712.30 apiece on the BSE. Marico closed FY25 with consolidated sales of Rs 10,831 crore, up 12% year-on-year, with underlying volume growth of 5%. Net profit rose 10% year-on-year to Rs 1,658 crore.

This article was first uploaded on September seventeen, twenty twenty-five, at fifty-eight minutes past seven in the evening.