Marico's Q2 revenue rose 31% as profit slipped marginally; direct reach target of 1.5m outlets resurfaces from November
Resurfacing a November 2025 disclosure, Marico reported Q2 revenue of ₹3,482 crore, up 30.7% year on year, while net profit slipped 0.7% to ₹420 crore amid GST transition costs, high copra prices and brand investment. The FMCG company aims to expand direct distribution from 1 million outlets in FY24 to 1.5 million by FY27.
What happened
Marico’s Q2 revenue rose 31% while profit marginally declined amid GST transition, high copra costs and brand investment. The FMCG company plans foods and
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
- Direct distribution target: 1 million outlets in FY24 to 1.5 million by FY27
What changed
Marico’s Q2 revenue rose 31% while profit marginally declined amid GST transition, high copra costs and brand investment. The FMCG company plans foods and premium personal-care expansion and will grow direct distribution to 1.5 million outlets by FY27.
Why this matters
Marico’s 30.7% revenue growth validates demand and execution, but protecting margins amid copra inflation, GST-transition costs and elevated brand spending will be critical as it expands direct reach to 1.5 million outlets.
What to watch
- Copra price trend, crop outlook and the timing of any retail-price actions.
- Quarterly volume growth versus value growth, especially in Parachute and other core franchises.
- Gross-margin, EBITDA-margin and advertising-and-promotion-spend trajectory after GST-transition effects.
- Net additions to directly served outlets and sales productivity of the expanded network.
- Rural demand recovery, channel inventory levels and the pace of general-trade replenishment.