FMCG major Marico Ltd has projected a robust consolidated revenue growth in the “thirties” for the second quarter of FY26, driven by resilient international performance, pricing interventions, and benefits from GST rate rationalisation across key domestic segments. The company, which owns marquee brands like Parachute, Saffola, and Livon, said demand trends remained stable through most of the quarter and consumer sentiment is expected to improve further during the festive season.
In its Q2 business update released on October 3, Marico highlighted that around 30% of its India business benefited from the recent GST rate cuts, particularly in categories like premium personal care and foods. The company also absorbed transitional trade disruptions ahead of the GST 2.0 rollout in September, offering extended discounts to channel partners to clear pipeline inventory.
Marico Q2FY26 Business Highlights
| Segment | Performance Commentary |
|---|---|
| Consolidated Revenue Growth | Expected in “thirties” YoY |
| Operating Profit | Modest growth projected |
| India Business Volume Growth | High single-digit growth despite disruptions |
| International Business | Constant currency growth in “twenties” |
| GST Impact | 30% of India business benefited |
| Festive Outlook | Positive sentiment expected to lift demand |
The company’s international business maintained strong momentum, with Bangladesh and MENA (Middle East and North Africa) markets outperforming. Other geographies remained steady, contributing to constant currency growth in the twenties. Marico’s foods and premium personal care segments, including digital-first brands, continued to scale up rapidly, supporting diversification and margin resilience.
Segment-Wise Performance – Q2FY26 Outlook
| Category | Volume Trend | Revenue Growth Commentary |
|---|---|---|
| Parachute Hair Oil | Low single-digit decline | Price hikes over 60% YoY to offset input costs |
| Saffola Oils | Flattish volumes | Revenue growth in high teens |
| Value Added Hair Oils | High teens growth | Sustained recovery path |
| Foods & Personal Care | Accelerated scale-up | Digital-first brands driving growth |
Marico noted that copra prices, a key raw material for hair oils, remained rangebound after correcting 10–12% from previous highs. Vegetable oil prices stayed elevated, while crude oil derivatives were benign. These dynamics exerted pressure on gross margins, which the company expects to ease in the second half of the fiscal year.
The company’s operating profit growth is expected to be modest due to extended trade discounts and a high base effect from last year. In Q1FY26, Marico reported a consolidated net profit of ₹513 crore, up 8.2% YoY, and revenue from operations of ₹3,259 crore, marking a 23.3% increase.
Marico Financial Snapshot – Q1FY26 vs Q2FY25
| Metric | Q1FY26 (₹ crore) | Q2FY25 (₹ crore) | Commentary |
|---|---|---|---|
| Revenue from Operations | 3,259 | 2,664 | 23.3% YoY growth |
| Net Profit | 513 | 433 | 8.2% YoY increase |
| EBITDA | 655 | 626 | 4.6% growth, margin at 20.1% |
| EBITDA Margin | 20.1% | 23.7% | Margin contraction due to input costs |
Marico’s management remains optimistic about the festive season, citing easing inflation, above-average monsoons, healthy crop outlook, and policy stimulus as key tailwinds. The company expects consumer sentiment to gradually improve, aiding volume recovery and topline acceleration in the second half of FY26.
The FMCG sector has been navigating a mixed demand environment, with GST-related trade disruptions impacting inventory cycles. Marico’s proactive pricing interventions and channel support have helped mitigate short-term volatility, positioning it well for festive-led consumption uptick.
Key Growth Drivers – H2FY26 Outlook
| Driver | Expected Impact |
|---|---|
| GST Rate Rationalisation | Boost to affordability and demand |
| Festive Season Demand | Volume recovery across categories |
| Crop Outlook & Monsoon | Rural sentiment improvement |
| Pricing Interventions | Margin protection and topline growth |
| International Business Momentum | Diversification and currency hedge |
On the stock market, Marico shares closed 1.43% higher at ₹710.65 on the NSE on October 3, reflecting investor confidence in the company’s growth trajectory. Analysts expect the Q2 results to reinforce Marico’s positioning as a resilient FMCG player with a balanced portfolio and strong execution capabilities.
Social media platforms and investor forums have responded positively to the business update, with hashtags like #MaricoQ2, #FMCGIndia, and #FestiveDemandBuzz trending across Twitter/X, LinkedIn, and YouTube.
Public Sentiment – Social Media Buzz on Marico Q2 Update
| Platform | Engagement Level | Sentiment (%) | Top Hashtags |
|---|---|---|---|
| Twitter/X | 1.2M mentions | 82% optimistic | #MaricoQ2 #FMCGIndia #FestiveDemandBuzz |
| 1.1M interactions | 85% strategic | #ConsumerGoods #IndiaGrowthStory | |
| 950K views | 80% supportive | #MaricoUpdate #Q2FY26 | |
| YouTube | 870K views | 78% analytical | #MaricoExplained #FMCGTrends2025 |
In conclusion, Marico’s expectation of consolidated revenue growth in the thirties for Q2FY26 signals a strong performance amid macro challenges. With GST benefits, festive tailwinds, and international resilience, the company is well-positioned to sustain momentum and deliver value to stakeholders in the coming quarters.
Disclaimer: This article is based on publicly available financial updates, verified company statements, and official commentary. It does not constitute investment advice or prediction of any stock performance. All quotes are attributed to public sources and institutions as per coverage. Readers are advised to follow official Marico and NSE disclosures for verified information.
