Marico Ltd , a leading Indian consumer products company, has announced robust financial performance for the second quarter, with consolidated revenue growth in the thirties year-on-year. The company's strong performance was driven by resilient international operations and benefits from recent GST rate cuts affecting parts of its India business.

Key Highlights

• Consolidated revenue growth in the thirties year-on-year for Q2
• International business maintained robust momentum with constant currency growth in the twenties
• Modest operating profit growth expected on a year-on-year basis
• Around 30% of Marico's India business benefited from GST rationalization
• Foods and premium personal care segments continued accelerated scale-up

Demand Trends and Market Outlook

Marico reported stable demand trends throughout most of the quarter, with expectations of improved sentiment during the upcoming festive season. The company anticipates gradual improvement in consumer sentiment in the months ahead, supported by factors such as:

• Easing inflation
• Above-average monsoons
• Healthy crop outlook
• Policy stimulus

GST Impact and Pricing Strategy

The recent GST rate rationalization announced by the government has positively impacted Marico's business. Key points include:

• Approximately 30% of Marico's India business benefited from the GST rate changes
• The company has passed on the benefits of revised GST rates to consumers across relevant product categories
• This move is expected to reinforce affordability and accessibility of Marico's products

Performance of Key Segments

Parachute

• Recorded a low single-digit decline in volumes
• Demonstrated resilience despite unprecedented hyperinflationary input costs and pricing conditions
• Remained flat in volume terms after normalizing for ml-age reductions

Saffola Oils

• Delivered flattish volumes against a high base
• Achieved revenue growth in the high teens

Value Added Hair Oils

• Delivered high teens growth
• Shows a sustained recovery path

Foods and Premium Personal Care

• Maintained accelerated scale-up
• Continued diversification efforts

International Business

• Maintained robust momentum with constant currency growth touching the twenties
• Bangladesh and MENA businesses visibly outperformed

Margin Pressure and Outlook

Despite strong revenue growth, Marico expects some pressure on gross margins due to:

• High base effect
• Pricing-led high denominator effect
• Sustained high levels of vegetable oil prices

However, the company anticipates gross margin pressures to ease in the second half of the year.

Future Aspirations

Marico maintains its aspiration of delivering sustainable and profitable volume-led growth over the medium term. This will be enabled by:

• Strengthening brand equity of core franchises
• Scaling up new engines of growth

As Marico navigates through a dynamic market environment, the company remains focused on leveraging its diverse portfolio and strategic initiatives to drive growth and create value for its stakeholders.

Marico Limited , a leading Indian consumer goods company, has announced the completion of its internal restructuring process, which involved the voluntary liquidation of its wholly-owned subsidiary, Apco Naturals Private Limited. The business consolidation is set to take effect from October 1, 2025, marking a significant step in streamlining the company's operations.

Restructuring Details

According to a regulatory filing by Marico to the BSE and NSE, the company has successfully integrated the business of Apco Naturals through a voluntary liquidation process. The key points of this restructuring are:

• The Liquidator has distributed the entire business undertaking of Apco Naturals to Marico on a going concern basis.
• A Letter of Distribution dated October 1, 2025, has been issued, confirming the transfer.
• The business undertaking of Apco Naturals now stands consolidated with Marico, effective from October 1, 2025.

Next Steps

The restructuring process is not entirely complete yet. Marico has outlined the following steps:

• The Liquidator will initiate the necessary procedures to obtain approval from the National Company Law Tribunal (NCLT), Chandigarh.
• This approval is required for the final dissolution of Apco Naturals in accordance with applicable laws.

Regulatory Compliance

Marico has ensured full transparency and regulatory compliance throughout this process:

• The company had previously disclosed details of this intra-group restructuring on August 4, 2025.
• The current update has been filed under Regulation 30 of the Listing Regulations.
• It also adheres to the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 (as amended).

Impact and Outlook

This internal restructuring is likely aimed at optimizing Marico's corporate structure and potentially improving operational efficiency. By consolidating Apco Naturals' business into its main operations, Marico may be looking to streamline its product portfolio and reduce administrative overheads.

Investors and stakeholders will be keen to observe how this restructuring impacts Marico's financial performance and market position in the coming quarters. As the consolidation takes effect, it may provide Marico with new opportunities for growth and synergies within its business operations.

Marico continues to demonstrate its commitment to corporate governance and shareholder transparency through timely and detailed disclosures of such significant corporate actions.