Marico Q2 revenue jumped 31%, resurfacing its September target of 1.5 million direct outlets by FY27

Marico's Q2 results, reported in a September 2025 filing, showed revenue of Rs 3,482 crore, up 30.7% year-on-year, while net profit slipped 0.7% to Rs 420 crore as copra costs and brand investment compressed margins. India revenue rose nearly 35%, and the company reiterated plans to expand direct distribution from 1 million outlets in FY24 to 1.5 million by FY27.

— FiledSun, 6 Sept, 2026, 05:35 IST·First seen Sun, 6 Sept, 2026, 05:35 IST·Source Financial Express · BrandWagon

What happened

Marico reported Q2 revenue growth of 30.7% but a marginal profit decline as copra costs and brand investments compressed margins. India revenue rose nearly 35%,

Key facts

  • Q2 net profit: Rs 420 crore, down 0.7% YoY
  • Q2 revenue: Rs 3,482 crore, up 30.7% YoY
  • EBITDA: Rs 560 crore, up 7.3% YoY
  • EBITDA margin: 16.1%, versus 19.6% a year earlier
  • India volume growth: 7%
  • India revenue: Rs 2,667 crore, up nearly 35% YoY
  • Foods growth: 12% YoY; over Rs 1,100 crore annualised revenue run rate
  • Digital-first portfolio: over Rs 1,000 crore
  • International revenue: Rs 815 crore, up 19% YoY
  • Direct distribution target: 1 million outlets in FY24 to 1.5 million by FY27

Why this matters

Marico’s push to add 500,000 direct outlets by FY27 increases the strategic value of regional distribution partners, route-to-market capabilities and brands that can leverage its expanding India network.

What to watch

  • Copra price trajectory and management commentary on gross-margin pressure.
  • India volume growth versus price-led growth in upcoming quarterly disclosures.
  • Direct-distribution outlet additions, active-outlet productivity and rural penetration metrics.
  • Advertising and promotion spending as a percentage of sales.
  • Any price hikes, grammage changes or downtrading in Parachute and other core franchises.
  • EBITDA margin recovery, inventory movement and working-capital impact from distribution expansion.
  • Prioritize direct outlet additions in high-repeat, high-margin personal-care and foods categories rather than pursuing outlet count alone.
  • Use granular distributor and outlet data to tailor assortments, replenishment and promotional spending by region.
  • Deploy calibrated price increases, pack-size architecture and premium variants to protect gross margin without broad-based demand disruption.
  • Increase sourcing hedges, supplier diversification and inventory planning for copra exposure.
  • Shift brand investment toward measurable conversion in newly activated outlets and digital commerce channels.