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Profit before tax stood at Rs 674 crore in Q2 FY27, up 23% from Rs 550 crore in the year-ago quarter.
EBITDA increased 27% year on year to Rs 709 crore from Rs 560 crore. EBITDA margin expanded 200 basis points to 18.2% from 16.2% in Q2 FY26.
Material costs increased 1% to Rs 2,022 crore, while employee costs rose 19% to Rs 259 crore. Other expenses increased 26% to Rs 456 crore. Advertising and sales promotion expenses rose 44% to Rs 451 crore as the company stepped up brand investments.
The India business reported 10% revenue growth to Rs 2,916 crore, supported by 10% underlying volume growth. The company said over 95% of its business gained or sustained market share and penetration on a moving annual total basis. Traditional and organised trade recorded double-digit growth, while quick commerce growth accelerated.
Gross margin expanded around 600 basis points year on year, supported by lower copra prices and a favourable portfolio mix. Copra prices remained range-bound during the quarter at 35% below their peak levels last year. Higher advertising and sales promotion investments supported brand-building and growth initiatives.
The International business sustained strong growth momentum and reported 13% constant currency growth (CCG) and 23% revenue growth in INR terms. Vietnam continued its strong growth momentum and delivered 22% CCG, with healthy growth across the portfolio, and acceleration in e-commerce. MENA delivered 15% CCG, supported by resilient performance in the Gulf on the back of focused execution. South Africa and NCD & Exports business registered strong performance with 15% and 17% CCG respectively.
For the first half of FY27, Marico's consolidated net profit increased 27.71% YoY to Rs 1,180 crore from Rs 924 crore in H1 FY26. Revenue from operations grew 17.73% YoY to Rs 7,854 crore in H1 FY27.
EBITDA rose 26% year on year to Rs 1,528 crore during the first half, while EBITDA margin improved 130 basis points to 19.5%.
On the outlook front, Marico remains optimistic about its growth prospects, backed by strong business fundamentals and disciplined execution. The company expects to deliver revenue growth in the teens in FY27 and comfortably surpass the Rs 15,000 crore revenue milestone. EBITDA is projected to grow at a mid-twenties rate during the fiscal year. Its India business is expected to register double-digit volume growth, while the International business is likely to witness an acceleration in constant currency revenue growth in the second half of FY27.
Over the longer term, Marico aims to sustain a top-quartile volume growth trajectory in India and achieve constant currency revenue growth in the teens in its International business. At the consolidated level, the company aspires to achieve double-digit revenue growth and reach the Rs 20,000 crore revenue milestone, supported by a mid-teens EBITDA CAGR.
The company continues to realign its product portfolio towards premium and higher-margin categories to strengthen growth and profitability. It plans to accelerate the profitable expansion of its Foods and Premium Personal Care segments, including digital-first businesses, with the objective of increasing their contribution to India revenue to around 27% by the end of FY27 and approximately 33% by FY30. Additionally, Marico expects its digital-first businesses to achieve double-digit EBITDA margins by the end of FY27, with further expansion into the teens over the medium term.
Marico's International business continues to demonstrate resilience, supported by premiumisation, portfolio diversification and sustained profitability. The contribution of premium categories to International revenue has increased from around 20% in FY20 to approximately 30% in FY26 and is targeted to reach nearly 40% by FY30. The company is also diversifying its international growth drivers by accelerating business expansion in Vietnam and the MENA region, while scaling up operations in South Africa. Reflecting these efforts, the share of markets outside Bangladesh in the International revenue mix has increased from around 50% in FY20 to 55% in FY26 and is expected to rise further to approximately 65% by FY30.
Marico is one of India's leading consumer products companies in the global beauty and wellness space. It sells products under brands such as Parachute, Saffola, Hair & Care, Parachute Advansed, Nihar Naturals, Mediker, Pure Sense, Coco Soul, Revive, Set Wet, Livon, Beardo, Just Herbs etc.
The strategic investment in Satiya Nutraceuticals has expanded Marico's total addressable market in the value-added foods and nutrition segments as well as presence in rapidly growing personal care and wellness categories.
The current transaction is towards acquisition of the 38.18% stake held by Founders and certain other shareholders in Satiya Nutraceuticals, pursuant to the rights under the definitive agreement(s).
Acquisition of the remaining 14.09% stake held by Founder and certain other shareholders will be completed in July 2027 subject to terms and conditions of the definitive agreements.
Shares of Life Insurance Corporation of India (LIC) are banned from F&O trading on 5 August 2026.
Earnings to Watch:
Power Grid Corporation of India, Cummins India, PB Fintech, Aurobindo Pharma, Berger Paints India, Biocon, GE Vernova T&D India, Bayer CropScience, Whirlpool of India, Asahi India Glass, Aster DM Quality Care, Bikaji Foods International, Navin Fluorine International, Neuland Laboratories, eClerx Services, Gujarat Narmada Valley Fertilizers & Chemicals, Godrej Agrovet, JK Lakshmi Cement, Garware Technical Fibres, Kirloskar Ferrous Industries, Shree Renuka Sugars, FDC, Shilpa Medicare will declare their quarterly result later today.
Stocks to Watch
Rate-sensitive sectors such as banks, auto, and realty stocks will be in focus as the RBI will announce its policy decision.
Oil & Natural Gas Corporation (ONGC)’s consolidated net profit climbed 21.37% YoY to Rs 1,189.89 crore in Q1 FY27 compared with Rs 980.40 crore in Q1 FY26. Revenue from operations jumped 25.68% to Rs 20,498.73 crore in Q1 FY27, compared with Rs 16,310.3 crore in Q1 FY26.
Bharti Airtel reported 37.32% jump in consolidated net profit to Rs 8,167.4 crore on 18.35% rise in revenue from operations to Rs 58,539.1 crore in Q1 FY27 over Q1 FY26.
Marico reported a 25% YoY jump in consolidated net profit to Rs 630 crore in Q1 FY27, driven by strong domestic volume growth and robust international business performance. Revenue from operations increased 23% YoY to Rs 3,957 crore in Q1 FY27, supported by 11% underlying volume growth in the India business and 15% constant currency growth in the international business.
Sheela Foam has reported a consolidated net profit of Rs 62 crore for Q1 FY27, which is 9.5 times the PAT figure of Rs 7 crore recorded in Q1 FY26. Revenue for the period under review was Rs 1,032 crore, up 26% YoY. The company stated that the mattress volume grew by 6% and in value terms, the segment grew by 15%. The foam business has registered volume growth and value growth of 4% and 26%, respectively.
United Breweries reported 9.54% decline in consolidated net profit to Rs 166.33 crore in Q1 FY27 compared with Rs 183.87 crore in Q1 FY26. Revenue from operations increased 7.07% YoY to Rs 3066.86 crore in Q1 FY27. UBL sell-in volumes were up more than 9% and sell-out volumes were up more than 13% in Q1 FY27.
Kalyan Jewellers India reported 32.03% jump in consolidated net profit to Rs 348.66 crore on 45.68% increase in revenue from operations to Rs 10588.92 crore in Q1 FY27 over Q1 FY26.
FSN E-commerce Ventures (Nykaa) reported 225.95% surge in consolidated net profit to Rs 79.76 crore on 29.1% jump in revenue from operations to Rs 2,782 crore in Q1 FY27 over Q1 FY26. The consolidated gross merchandise value (GMV) grew 34% YoY to Rs 5,590 crore in Q1 FY27.
Bombay Stock Exchange reported 62.03% jump in consolidated net profit to Rs 874.02 crore in Q1 FY27 compared with Rs 539.41 crore in Q1 FY26. Revenue from operations climbed 63.48% YoY to Rs 1566.02 crore in the quarter ended 30th June 2026.