Marico (MARICO) Q4 25/26 earnings summary

Executive summary

• Achieved multi-year highs in consolidated revenue, with FY26 revenue up 26% YoY to ₹13,611 crore, India business up 28%, and international business up 20% YoY in INR terms, driven by robust execution, strategic diversification, and digital-first premium personal care growth.

• Over 95% of the portfolio gained or sustained market share and penetration on a MAT basis.

• Project Setu investments enhanced rural reach and execution, supporting general trade revival and sustained growth.

• Several acquisitions completed, including full ownership of True Elements and majority stakes in Plix, 4700BC, and Cosmix, with positive synergy and profitability.

• Audited standalone and consolidated financial results for FY26 were approved with an unmodified auditor's opinion.

Financial highlights

• FY26 consolidated revenue: ₹13,611 crore (up 26% YoY); net profit: ₹1,813 crore; EBITDA: ₹2,474 crore; EPS: ₹13.62 (basic).

• Foods portfolio exited the year at over ₹1,000 crore in revenue, premium personal care at ₹350+ crore ARR, and digital-first brands at ₹1,100+ crore ARR.

• India business volume growth at 8% for FY26 and 9% for Q4FY26; international business constant currency growth at 20% for FY26.

• Value-Added Hair Oils (VAHO) grew 20% for the year, with Q4 volume growth exceeding 20%.

• Net cash generated from operating activities was ₹2,084 crore for FY26, up from ₹1,363 crore year-over-year.

Outlook and guidance

• India business expected to sustain high single-digit volume growth in FY27; international business targets mid-teen constant currency growth.

• Consolidated revenue expected to cross ₹15,000 crore and high-teen EBITDA growth in FY27, with a medium-term vision to surpass ₹20,000 crore revenue and mid-teen EBITDA CAGR by FY30.

• Foods and premium personal care share in India business projected to rise to 27% in FY27 and one-third by FY30.

• The Board recommended a final dividend of ₹4 per share for FY26, subject to approval.