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Informist, Tuesday, May 5, 2026

 

--Marico: Expect double-digit growth in Bangladesh in FY27 

--CONTEXT: Comments by Marico's management in post-earnings analyst call 

--Marico: Plan new nutraceuticals, personal care pdts under Plix brand 

--Marico: Will remain focussed on growing volumes in FY27 

 

By Avishek Rakshit & Ashutosh Pati

 

KOLKATA/MUMBAI – Marico Ltd. is aiming to grow the share of foods and premium personal care products to one-third of its total domestic revenue over the next three years from the current revenue share of 23%, a senior company official said Tuesday. 

 

"The combined revenue share of foods and premium personal care, including digital-first brands in the India business, moved up to 23% this year, despite the sharp pricing-led growth in the core portfolio," Saugata Gupta, managing director and chief executive officer at Marico, told analysts in a post-earnings conference call. "We expect the share of these new businesses to expand to about 27%, which was earlier targeted to reach 25% in FY27, and aspire to move about one-third of our business by FY30."  

 

During the quarter ended March, the foods portfolio registered 16% on-year growth and exited 2025-26 (Apr-Mar) with more than INR 10 billion revenue. The core Saffola foods portfolio delivered double-digit growth, while Saffola Oats continued to retain its leadership position in the oats market. During the quarter, Marico further strengthened its foods portfolio with the acquisition of Cosmix, a leading digital-first functional wellness brand, and 4700 BC, a premium gourmet snacking brand.

 

"In premium personal care, we continue to scale with a clear focus on profitable growth. The portfolio comprising serums, male grooming, and skincare exited the year at an ARR (average run rate) of INR 350 plus crores (more than INR 3.5 billion). The digital-first portfolio of premium personal care exited FY26 at INR 1,100 crores plus (more than INR 11 billion) ARR," Gupta said.

 

Gupta said Marico is making steady progress in premiumising its portfolio across markets, driven by expansion into beauty and personal care categories and supported by innovation. "This is expected to drive both differential growth and margin expansion over the medium term," he said. "Our ongoing diversification and premiumisation effort across India and international business markets are already reshaping our growth construct in a meaningful way."

 

Apart from growing its core Saffola portfolio, Marico is bullish on nutraceuticals, which are fast emerging as a new trend, particularly among the youth and the middle-aged consumers globally. The company picked up majority stakes in Cosmix and Plix to explore this vertical further and launch new products for health conscious consumers. 

 

"..between Plix and Cosmix, Cosmix will be in the slightly more serious nutraceutical and protein play. So they'll be in the vitamin supplement, nutraceutical play. Plix is a more fun brand, therefore we will then straddle both the things together," Gupta said. "But going forward, we believe the centre of gravity of Plix will be more towards personal care, which is far more profitable in the long term."

 

Marico recently launched an apple cider vinegar canned drink which is currently available with one or two quick commerce players. Gupta said going ahead, Marico will come up with new products under these brands. 

 

In the current financial year started April, Marico is targetting double-digit revenue growth and aims to cross the INR-150-billion annual revenue threshold while sustain high single-digit volume growth.

 

For its global operations, which usually account for over 30% of its top line, Marico expects to deliver mid-teen growth in constant currency terms in FY27, driven by broad-based performance across markets. Bangladesh, which currently accounts for 45% of its overseas revenue, delivered 35% constant currency revenue growth during the quarter ended March, supported by a strong core business and rapid scale-up of new franchises.

 

Vietnam sustained its double-digit revenue growth momentum, recording 18% constant currency growth during the March quarter, while South Africa registered 8% constant currency growth, led by the hair care segment. However, West Asia and North Africa posted 7?cline in constant currency growth for the quarter as the Gulf region was impacted by supply-chain disruptions due to the US-Israel combine's war on Iran and the resulting fallout. 

 

Tuesday, shares of Marico closed around 3% higher at INR 807.20 on the National Stock Exchange. The company declared its results for the quarter and year ended March during market hours.  End

 

Edited by Tanima Banerjee

 

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