Marico revenue rose 31% in Q2, resurfacing its Nov 14 update targeting 1.5 million direct outlets by FY27

Resurfacing a Nov 14, 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 amid input costs, GST transition and brand investment. India revenue grew nearly 35%; the company is scaling direct distribution from 1 million outlets in FY24 to 1.5 million by FY27.

— FiledThu, 3 Sept, 2026, 05:49 IST·First seen Thu, 3 Sept, 2026, 05:48 IST·Source Financial Express · BrandWagon

What happened

Marico’s Q2 revenue rose 31% while profit edged down amid GST transition costs, high copra prices and brand investment. India revenue grew nearly 35%; the FMCG

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 volumes: up 7%
  • India revenue: Rs 2,667 crore, up nearly 35% YoY
  • International revenue: Rs 815 crore, up 19% YoY
  • Foods annualised revenue run rate: over Rs 1,100 crore
  • Digital-first portfolio revenue: over Rs 1,000 crore
  • Direct distribution outlets: 1 million in FY24 to 1.5 million by FY27

Why this matters

Marico’s distribution expansion strengthens its route-to-market moat and makes adjacent brand, channel and rural-reach partnerships more strategically valuable.

What to watch

  • India volume growth versus price-led growth in the next two quarters.
  • Gross-margin and EBITDA-margin trend as commodity costs and GST-transition effects normalize.
  • Progress in direct outlet additions, including sales productivity per newly added outlet.
  • Market-share movement in Parachute, Saffola, value-added hair oils and foods categories.
  • Rural demand recovery, distributor inventory levels and trade-spend intensity.
  • Management commentary on capex, advertising spend and the timeline for profit recovery.
  • Accelerate rural and semi-urban direct distribution, prioritizing high-throughput outlets and underserved districts.
  • Increase outlet-level assortment of premium and higher-margin products to improve returns on distribution investment.
  • Use targeted price increases, pack-size changes and procurement hedges to protect gross margins against copra and edible-oil volatility.
  • Sustain brand investment behind digital-first and foods categories while tightening ROI measurement by channel and geography.
  • Push distributor digitization and demand sensing to reduce stock-outs, improve replenishment and limit working-capital intensity.