Sign in to fuzzto save your conversations, follow your research and come back anytime.
Marico
SectorFMCG
Marico Limited is an Indian consumer goods company specializing in beauty and wellness products. Founded in 1988, it manufactures and markets brands such as Parachute, Saffola, Nihar Naturals, and Set Wet. The company operates in various product categories including coconut oil, refined edible oils, hair care, male grooming, and packaged foods. Marico has a significant presence in India with seven factories and a distribution network spanning regional offices, carrying and forwarding agents, redistribution centers, and distributors. Internationally, Marico operates in about 50 countries with brands like HairCode, Fiancee, and X-Men. The company has expanded through acquisitions and joint ventures, including purchases in Vietnam and South Africa. Marico has also invested in emerging brands like Beardo and True Elements to strengthen its portfolio in male grooming and wellness sectors.
In the news
Marico Q2 FY27: Strong Growth Drives 16% Upside Potential
Premium edible oils gain traction as Uruguay eyes Indian market
Nuvama raises Marico target to ₹2,032 with 21.4% revenue growth forecast
Marico Q1 FY27: Smart Strategy Meets Lower Input Costs
Marico targets ₹20,000 crore revenue with mid-teens EBITDA growth by 2030
Marico Gets Buy Rating with ₹1,000 Target Price
Kalyan Jewellers surges 4.98% on Q1 update; MOFSL maintains 47% upside
FMCG Q1 results: Strong growth expected amid margin resilience
Heatwave Profits: How Summer Demand Saved Q1 FY27
Marico Q1 FY27: Strong 22% revenue growth, volume recovery signals sector turnaround
FSSAI Issues Notices to 15+ Food Companies Over Claims, Labelling
Marico Cuts Parachute Oil Price 17% as Copra Costs Fall
Protein products surge as Indian diet trends shift mainstream
Wipro shares rise for third straight session, up 1.26%
Marico launches Parachute Advanced Protein Shampoo range
Marico Launches Parachute Advansed Protein Shampoo Range
Marico targets ₹20k cr revenue by FY30, eyes ₹15k cr by FY27
Marico Q4 FY26: ₹3,333 cr revenue, 9% volume growth drives ₹15,000 cr target
Marico Q4 FY26: 9% profit growth, 7-year volume high amid cost pressures
Marico shares target 16% upside after 18% Q4 profit surge
The Quarter story
The two most recent quarterly results, compared side-by-side.
Marico delivers a strong profitability rebound and efficient working capital management, supported by accelerating India volume growth and steady core market share gains.
EBITDA Margin expanded from 16.8% in Q4 2024-25 to 20.7% in Q1 2026-27, reflecting stronger pricing power and cost discipline.
Material Cost rose from ₹1,404 Cr in Q4 2024-25 to ₹2,112 Cr in Q1 2026-27, pressuring gross margins despite volume gains.
Net Working Capital days dropped from 44 in Q4 2024-25 to 26 in Q1 2026-27, improving cash conversion cycles.
Bangladesh CCG swung from 35% in Q4 2025-26 down to 4% in Q1 2026-27, signaling sharp regional demand weakness.
India Business Volume Growth accelerated from 7% in Q4 2024-25 to 11% in Q1 2026-27, outpacing sector averages.
Post-wash Leave-on Serums Market Share slipped from 47% in Q4 2024-25 to 44% in Q1 2026-27, facing intensifying competitive pressure.
Parachute Rigid Market Share grew from 54% in Q4 2024-25 to 59% in Q1 2026-27, reinforcing category leadership.
Employee Cost increased from ₹208 Cr in Q4 2024-25 to ₹269 Cr in Q1 2026-27, outpacing revenue growth in recent quarters.
GHG Emissions Reduction improved from 57% in Q4 2024-25 to 87% in Q1 2026-27, advancing long-term sustainability targets.
Water Consumption Intensity Reduction eased from 54.36% in Q4 2024-25 to 29% in Q1 2026-27, requiring closer operational monitoring.
Company insights, generated from the most recent coverage.
Marico's Cosmix deal (₹226 Cr for 60%, ₹375 Cr valuation) on a ~₹100 Cr ARR base implies ~3.8x revenue with high-teen EBITDA margins — a disciplined price versus HUL's 8.6x Minimalist multiple.
Marico targets ₹1,000 Cr D2C ARR in FY26 from ₹750 Cr in FY25, but lacks in-house manufacturing and cold-chain capability, leaving it structurally exposed to contract-manufacturing cost inflation as it scales.
Nine years of D2C ownership since Beardo (2017) gives Marico a repeatable playbook — minority stake first, work with founders, then full exit — plus shared back-end (procurement, CRM, media buying) across six-plus brands.