Marico flags 25%+ H2 revenue growth as demand stabilises post-GST
Marico expects strong second-half FY26 performance with 25%+ revenue growth as demand normalises across categories. CEO points to double-digit EBITDA growth, up to 200 bps margin improvement, premium hair oil and foods expansion, and 2.5x growth in digital-first brands like Beardo and Plix by FY27.
What happened
Marico expects 25%+ H2 revenue growth as demand stabilises post-GST changes. CEO sees margin gains, double-digit EBITDA growth, premium hair oil and foods
Key facts
- 25% H2 revenue growth
- 7% volume growth Q2
- 100% input cost increase
- 200 bps margin improvement potential
- 27% share gain
- ₹98,837.80 crore market cap
- 2.5x premium PC growth by FY27
Why this matters
The aggressive digital-first scaling of Beardo and Plix flags M&A and bolt-on acquisition appetite in premium personal-care and functional foods to compound the FY27 growth ambition.
What to watch
- Q3 FY26 volume growth print vs the 7% Q2 base
- Copra and edible oil input cost trajectory
- Gross/EBITDA margin delta vs the 200bps guide
- Digital-first brand revenue run-rate and profitability
- Rural vs urban demand split commentary
- Sell-side EPS upgrades for FY26/27 with target price revisions
- Push on Saffola foods and premium hair oil distribution expansion
- Scale Beardo/Plix via D2C and quick-commerce channels
- Peer FMCG names (HUL, Dabur, Emami) flagged for similar post-GST demand read-through