Marico has shared its outlook for the upcoming quarters, highlighting expectations of sustained volume growth in the Indian market while anticipating a potential slowdown in price growth. The company's strategic positioning reflects its focus on maintaining market share through volume expansion despite evolving pricing dynamics.

Volume Growth Strategy

The company expects to maintain its volume growth trajectory in India, indicating confidence in its product portfolio and market penetration strategies. This approach suggests Marico's commitment to strengthening its market position through increased product sales volumes rather than relying heavily on price increases.

Pricing Outlook

Marico anticipates that price growth may slow down in the upcoming quarters. This expectation reflects the company's assessment of market conditions and consumer demand patterns, indicating a more measured approach to pricing strategies in the near term.

Operating Profit Projections

The company expects operating profit growth to improve gradually, supported by two key factors:

These favorable conditions are anticipated to contribute to improved profitability metrics and operational performance. The combination of lower input costs and reduced margin pressure positions the company for enhanced financial performance in the coming quarters.

Strategic Focus

Marico's outlook demonstrates a balanced approach to growth, emphasizing volume expansion while managing pricing strategies according to market dynamics. The company's expectations of gradual improvement in operating profit growth reflect confidence in its operational efficiency and cost management capabilities.

Marico Limited has announced a strategic intra-group restructuring involving the voluntary liquidation of its wholly owned subsidiary Zed Lifestyle Private Limited, which operates the "Beardo" brand. The disclosure was made on January 27, 2026, under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Strategic Rationale and Implementation

The restructuring forms part of Marico's digital-first strategy and aims to augment its digital transformation journey. The company intends to integrate Zed's entire business undertaking on a going concern basis through voluntary liquidation. This approach is expected to deliver operational synergies, enable efficient resource allocation, and create a simplified corporate group structure.

The proposed voluntary liquidation received approval from Marico's Board of Directors following in-principle approval by Zed's board of directors at their respective meetings held on January 27, 2026. The implementation remains subject to further approvals from Zed's board of directors, shareholders, creditors, and receipt of requisite statutory and regulatory approvals.

Financial Impact and Contribution

Zed Lifestyle's financial contribution to Marico's consolidated operations during the last financial year demonstrates its relatively modest scale within the group structure:

Marico has clarified that Zed is not classified as a material subsidiary, and the voluntary liquidation will not have any material impact on the company's consolidated financials.

Regulatory Process and Timeline

The voluntary liquidation process will commence upon receipt of consent from Zed's shareholders and requisite majority of its creditors. The distribution of Zed's business undertaking on a going concern basis will be completed in accordance with applicable laws. Following the completion of distribution, Zed will be dissolved pursuant to an order from the National Company Law Tribunal (NCLT).

Shareholding Structure Changes

The restructuring will result in specific changes to the shareholding structure:

• Upon dissolution of Zed pursuant to the NCLT order, the shares held by Marico in Zed will be cancelled
• No change will occur in Marico's shareholding pattern as a result of this intra-group restructuring

The company has confirmed that no consideration will be received from this internal restructuring, and the transaction does not fall within related party transaction requirements. The restructuring provides no specific benefits to the promoter/promoter group/group companies beyond the stated operational synergies.