Marico Limited delivered a consolidated revenue of ₹13,611 crore for the financial year ended March 2026, marking a 26% year-on-year increase. This performance represents the company’s strongest growth in over a decade, driven by volume expansion in India and constant-currency growth internationally.

The consumer goods firm reported recurring consolidated profit after tax (PAT) of ₹1,762 crore, an 11% rise from the previous year. Despite top-line momentum, operating margins contracted by 265 basis points to 17.1%, primarily due to significant input cost inflation that was only partially offset by pricing actions and savings programs.

Financial Performance Overview

The India business contributed ₹10,348 crore to turnover, growing 28% year-on-year with underlying volume growth of 8%. The international segment saw foreign exchange earnings rise to ₹1,055 crore from ₹695.88 crore in FY25, reflecting a roughly 50% increase.

What the Numbers Show

A notable divergence exists between revenue acceleration and margin compression. While revenue grew at nearly double-digit rates across segments, operating margins declined significantly. This suggests that input cost pressures—particularly in crude-linked commodities like edible oils—outpaced the company’s ability to pass on costs through pricing or mitigate them via operational efficiencies in the short term.

Segment Highlights

• Edible Oils: Saffola Edible Oils sustained double-digit revenue growth while maintaining threshold profitability through disciplined pricing. Parachute coconut oil growth was almost flat due to hyper-inflationary input costs, though value-added hair oils delivered robust 20% growth led by volumes.
• Foods & Premium Personal Care: The Foods business crossed the ₹1,000 crore revenue mark. Combined with Premium Personal Care and digital-first brands, this portfolio now accounts for approximately 23% of India business revenues, up from previous levels.
• Digital Presence: Digital salience, including e-commerce and direct-to-consumer (D2C) channels, reached 20% of the India business. Quick commerce emerged as a key driver, with salience increasing to approximately 5%.

Strategic Outlook & Dividend

Management reaffirmed its Vision 2030 aspiration to achieve ₹20,000 crore in revenue. For FY27, the company aims to deliver double-digit revenue growth and cross the ₹15,000 crore revenue threshold.

The Board declared a dividend of ₹4 per share (400% of face value). Over the last five years, average dividend payouts stood at 66% of recurring consolidated net profits. Capital expenditure for FY26 was ₹319 crore, focused on capacity expansion and maintenance.

Shareholder Engagement

During the 38th Annual General Meeting held on August 6, 2026, shareholders raised questions regarding bonus issues, rural penetration, and artificial intelligence adoption. Management clarified that new products launched in FY26 contributed approximately 5% to consolidated revenues. The company also highlighted its ESG progress, noting an 89.3% reduction in operational GHG emissions intensity against the FY13 baseline.

Marico Ltd has received an environmental, social and governance (ESG) rating of "Strong" with a score of 68 from ESG Risk Assessments & Insights Limited. The rating provider, which is registered with the Securities and Exchange Board of India (SEBI), communicated the assessment to the company on August 20, 2026.

The company clarified that it did not engage ESG Risk Assessments & Insights Limited for this specific assessment. The rating was independently determined by the agency based on its proprietary methodology.

Regulatory Disclosure

Marico disclosed the rating under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates timely disclosure of price-sensitive information to stock exchanges.

The intimation was filed with both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Limited (NSE). The full disclosure is available on the company’s website under the investor relations section.

What the Numbers Show

The score of 68 places Marico in the "Strong" category according to the rater’s scale. While the source does not provide historical scores for trend analysis, the independent nature of the assessment suggests the rating reflects external scrutiny rather than internal self-reporting.