Marico delivered impressive fourth-quarter results with consolidated net profit rising 18.26% to ₹408 crore for the quarter ended March 31, as reported by ET Now. The FMCG company, which is a component of the BSE 100 with a market capitalisation of ₹1,04,773.60 crore, demonstrated strong operational metrics during the quarter. According to reports from ET Now, India's volume growth accelerated to 9% while the international business remained robust, supporting the company's overall performance. However, recent quarterly results show mixed performance with Q4 FY26 consolidated net profit of ₹391 crore, down 12.53% quarter-on-quarter but up 13.99% year-on-year, as reported by The Economic Times. The company faced margin pressures with operating margins contracting to 15.63% in Q4 FY26 from a peak of 20.10% in Q1 FY26, representing a 447 basis points decline over just three quarters.
Following the strong quarterly performance, major brokerages have maintained positive stances on Marico's stock prospects. Morgan Stanley maintains an 'Overweight' rating with a target price of ₹934, suggesting approximately 16% upside potential, as reported by ET Now. Goldman Sachs has set a target of ₹900 with a 'BUY' rating, indicating 11.5% upside potential. Nirmal Bang maintains a 'HOLD' rating with a target price of ₹860, suggesting 6.5% upside potential. The brokerages remain constructive on the company's medium-term growth and earnings visibility outlook, supported by strong performance across key brands including Parachute, VAHO, and Foods segments. Despite the recent margin pressures, these valuations reflect confidence in Marico's long-term fundamentals and brand strength.
For the complete Financial Year 2026, Marico's performance was even more impressive with revenue rising 25.7% to ₹13,611 crore and total income standing at ₹13,815 crore, as reported by The Economic Times. This robust full-year growth demonstrates the company's ability to capitalise on market opportunities and maintain strong momentum across its diversified FMCG portfolio. The strong volume growth of 9% in Q4, combined with the company's international business strength, has contributed significantly to this impressive annual performance, positioning Marico well for continued growth in the evolving FMCG landscape.
Management has upgraded its FY27 EBITDA growth guidance to high teens, reflecting confidence in the company's growth trajectory, according to ET Now reports. The company expects high single-digit volume growth and high-teen EBITDA growth for FY27. Management highlighted that copra price deflation is expected to support gross margins going forward, strengthening the profitability outlook. Additionally, easing copra prices and rural recovery are expected to support both growth and margins in the coming period. The company's strategic focus on maintaining market leadership while navigating competitive pressures and commodity price volatility positions it well for sustained growth in the evolving FMCG landscape.
Total expenses during the quarter stood at ₹2,889 crore, compared to ₹2,336 crore a year earlier, as reported by ET Now. The company's strong performance was driven by robust demand trends and operational efficiency improvements. Recent quarterly results show employee costs rising to ₹237 crore from ₹208 crore year-on-year, representing a 13.94% increase that outpaced revenue growth. The stock rallied 2.89% on May 05, 2026, closing at ₹807.10, reflecting market optimism about the company's top-line momentum even as investors digest the margin headwinds. With a market capitalisation of ₹1,02,255 crore, Marico commands a premium valuation in the edible oil sector, trading at 61 times trailing twelve-month earnings.
