Marico Limited delivered strong financial performance in Q3FY26, with consolidated revenue growth reaching the high twenties on a year-on-year basis. The consumer products company reported steady demand trends during the quarter while maintaining optimism about gradual consumption improvement in upcoming quarters, supported by easing inflation, lower GST rates, MSP hikes, and healthy crop sowing season.

India Business Performance Shows Sequential Improvement

The India business demonstrated resilience with underlying volume growth remaining in high single digits while marking sequential improvement during the quarter. Brand performance varied across the portfolio, with several key franchises showing distinct trends.

Parachute continued to demonstrate stellar resilience amid elevated input costs and pricing conditions. While the brand recorded a marginal volume decline, it remained in positive territory after normalizing for pack size reductions implemented in lieu of price increases. This underscores the brand's pricing power and loyal consumer base even in a challenging cost environment.

Value Added Hair Oils reinforced sustained franchise traction with growth in the twenties, supported by strategic focus in mid and premium segments, enhanced direct reach through Project SETU, and recent GST rate rationalization. The company expects to maintain double-digit growth in this segment over the near and medium term.

Saffola Oils witnessed a muted quarter as prior pricing actions anniversarised during the period. The Foods segment had a benign quarter but is expected to revert to accelerated growth over the next two quarters, while Premium Personal Care, including digital-first brands, continued to scale ahead of internal aspirations, contributing to portfolio diversification.

International Operations Maintain Strong Momentum

The international business sustained robust performance with constant currency growth in the early twenties during Q3FY26. Bangladesh led the growth trajectory, while Vietnam and South Africa bounced back to double-digit growth driven by targeted initiatives across these markets.

Input Cost Environment and Margin Outlook

The company experienced favorable developments in key input costs during the quarter. Copra prices corrected approximately 30.00% from their highs and are expected to exhibit a downward bias in the coming months, aided by the flush season. However, vegetable oil prices remained at elevated levels while crude oil derivatives remained benign.

The company expects an uptick in gross margin on a sequential basis after bottoming out in the preceding quarter. Further gross margin improvement is anticipated in coming quarters, driven by the lagged pass-through of lower copra costs. Marico sustained brand-building investments to strengthen long-term franchise equity and drive accelerated portfolio diversification.

Financial Performance and Strategic Outlook

Marico expects operating profit growth to touch double digits on a year-on-year basis for Q3FY26. The consolidated revenue growth in the high twenties positions the company to achieve its full-year aspiration. The company maintains its aspiration of delivering sustainable and profitable volume-led growth over the medium term, enabled by strengthening brand equity of core franchises and scaling up new growth engines across markets.

The company reiterated its commitment to sustainable and profitable, volume-led growth over the medium term, backed by strong core brands and the scaling up of new growth engines across domestic and international markets. Management expressed confidence in gradual consumption recovery supported by improving macroeconomic indicators and favorable policy measures.

Marico has officially extended the timeline for acquiring the remaining 40% stake in Satiya Nutraceuticals Private Limited by 12 months. The consumer goods company informed stock exchanges through a regulatory filing that it has amended the definitive agreement to extend the acquisition period, moving the deadline from FY27 to FY28.

Acquisition Timeline Extension

The key details of the timeline extension are outlined below:

Strategic Background

Marico has already acquired an aggregate 60% stake on a fully diluted basis in Satiya Nutraceuticals, the entity that owns the PLIX brand. The company had previously communicated to exchanges in letters dated July 26, 2023, November 30, 2023, and May 31, 2025, regarding its progressive acquisition of the majority stake.

Agreement Amendment Details

The amendment to the definitive agreement was made based on mutual understanding between the parties and in alignment with strategic priorities. The extended timeline is subject to mutually agreed milestones and conditions, providing both parties with additional flexibility in completing the transaction.

Regulatory Compliance

The update was shared with both BSE Limited and The National Stock Exchange of India Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure has also been made available on the company's official website for investor reference.

This extension demonstrates Marico's continued commitment to acquiring full ownership of the PLIX brand while allowing for strategic alignment and milestone achievement between the transaction parties.