Marico Q2 revenue rose 31%, resurfacing September plan to reach 1.5 million direct outlets by FY27
Resurfacing a September 2025 report: Marico posted Q2 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 investments weighed on margins. The FMCG company plans to expand direct distribution from 1 million outlets in FY24 to 1.5 million by FY27.
What happened
Marico reported Q2 revenue growth led by India price hikes and volume growth, while profit and margins declined due to copra costs and brand investment. It
Key facts
- Q2 net profit: Rs 420 crore, down 0.7% YoY
- Q2 revenue: Rs 3,482 crore, up 30.7% YoY
- India revenue: Rs 2,667 crore, up nearly 35% YoY
- India volumes: up 7% YoY
- EBITDA margin: 16.1% versus 19.6% YoY
What changed
Marico reported Q2 revenue growth led by India price hikes and volume growth, while profit and margins declined due to copra costs and brand investment. It plans portfolio diversification and to expand direct distribution to 1.5 million outlets by FY27.
Why this matters
Marico’s 30.7% Q2 revenue growth and plan to reach 1.5 million direct outlets by FY27 highlight distribution-led scale, though elevated copra costs and brand spending are pressuring margins.
What to watch
- Quarterly volume growth versus price-led growth, especially in Parachute and rural markets.
- Gross-margin and EBITDA-margin trend relative to copra and other edible-oil input costs.
- Net direct outlet additions, outlet productivity and distribution-expansion cost per outlet.
- Advertising-and-promotion spend as a percentage of sales and resulting market-share movement.
- Rural demand indicators, competitive pricing actions and consumer downtrading into smaller packs.