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Marico's Q3: Growth Surges on Strong Sales, Falling Costs
2 Jan
Summary
- India business achieved high-single-digit volume growth in Q3 FY26.
- International business saw robust constant-currency growth in early twenties.
- Copra prices corrected approximately 30% from highs, aiding margins.
Marico Ltd announced a steady operating performance for the December quarter of fiscal year 2026. The company's India business exhibited high-single-digit underlying volume growth, demonstrating resilience amid stable demand trends. Simultaneously, Marico's international business maintained strong momentum, achieving robust constant-currency growth in the early twenties, with Bangladesh, Vietnam, and South Africa leading the way.
The company's consolidated revenue growth stood in the high twenties year-on-year, aligning with its full-year targets. Significant tailwinds are emerging from cost efficiencies, notably a 30% correction in copra prices from their peaks, which is expected to drive sequential improvement in gross margins. This, combined with other strategic initiatives, positions Marico for double-digit operating profit growth.
While Saffola Oils experienced a muted quarter due to prior pricing actions, the Value Added Hair Oils segment and premium personal care brands continued to scale effectively. Marico remains committed to brand building investments, anticipating continued traction in its diverse portfolio and a gradual uplift in overall consumption.
