Marico Q4 Results: Net profit rises to ₹391 crore, revenue jumps 22% YoY; board recommends final dividend of ₹4 per share

FMCG major Marico reported a growth of 14% in its consolidated net profit at ₹391 crore for the quarter ended March 31, 2026, on Tuesday, May 5. The company’s net profit for the March quarter of financial year 2024-25 was at ₹343 crore.

Its revenue from operations for Q4 FY26 stood at ₹3,333 crore, increasing 22% year-on-year (YoY) from ₹2,730 crore in the same period of the previous fiscal year, with underlying volume growth of 9% in the India business and constant currency growth of 19% in the international business.

On an operational level, Marico’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew 14% to ₹521 crore in Q4 FY26 as against ₹458 crore in Q4 FY25.

The FMCG firm’s EBITDA margin, however, contracted to 15.63% for the reporting quarter in contrast to 16.78% YoY.

In FY26, the company’s revenue from operations stood at ₹13,611 crore, delivering a record 26% year‑on‑year growth, the highest in 14 years. The India business reported underlying volume growth of 8%, marking a 7‑year high, while the international business achieved constant currency growth of 20%, also a 14‑year high.

“During the quarter, the sector exhibited stable demand trends. We remain optimistic of a gradual improvement in consumption over the coming quarters, while monitoring the potential macroeconomic implications arising from the evolving geopolitical developments in the Middle East,” Marico said in a statement.

Gross margin improved by ~140 bps on a sequential basis owing to progressive easing of copra prices, while staying under pressure (down ~360 bps YoY) on a year-on-year basis. Despite significant input cost pressures, the company continued A&P investments, which were up 5% YoY.

Dividend details

Marico’s board has recommended a final equity dividend of ₹4 per equity share of ₹1 each for the financial year 2025–26, subject to shareholders’ approval at the ensuing 38th Annual General Meeting (AGM). The company said the record date for the final dividend is July 30, 2026, and the dividend, if approved by shareholders, will be paid on or before September 5, 2026.

Indian business

Underlying volume growth in the India business improved sequentially to 9%. The India business revenues stood at ₹2,505 crores, up 21% YoY. Offtakes remained strong, with 95%+ of the business gaining or sustaining market share and 90%+ of the business gaining or sustaining penetration, both on a MAT basis.

Marico said that in its India business, e-commerce, including quick commerce, emerged as the leading growth driver among channels. The company also noted a visible improvement in traction in traditional trade, reflecting the outcome of consistent investments and targeted actions undertaken over the past two years.

International business

The international business delivered 19% constant currency growth during the quarter, closing the year on a robust note. Performance was positive across all markets, except for the Gulf region, where ongoing geopolitical headwinds weighed on results in March.

Bangladesh delivered 35% CCG, supported by a strong core business and rapid scale-up of new franchises. Vietnam sustained its double-digit growth momentum, recording 18% CCG during the quarter. MENA declined 7% as the Gulf region was impacted by temporary disruptions in the supply chain due to the ongoing geopolitical developments in the region, while Egypt grew in the high teens. South Africa registered 8% CCG, led by the hair care segment. NCD and exports grew 46%.

“We are pleased to have met our strategic aspirations on topline and volume growth, along with the diversification objective. This performance underscores the enduring strength of our core categories, the profitable scale-up of premium and digital businesses across markets, and the strength of our operating model anchored in supply chain agility, cost discipline, and future-ready capabilities,” said Saugata Gupta, MD & CEO, Marico.

“As we look ahead, we remain committed to achieving competitive, top quartile outcomes in FY27, while steadfastly advancing towards our bold vision of surpassing ₹20,000 Crores in revenue by FY30,” Gupta added.

Marico’s outlook

In the near term, Marico said it will remain focused on consistently delivering top-quartile outcomes across key performance metrics. The company expects to sustain high single-digit volume growth in the India business in FY27.

International business is expected to maintain strong momentum with mid-teen constant currency growth, driven by broad-based performance across markets. At a consolidated level, Marico aims to deliver double-digit revenue growth to cross ₹15,000 crore in FY27. The company also aspires to deliver high-teen EBITDA growth, subject to current macros.

In the medium term, at a consolidated level, we are poised to deliver double-digit revenue CAGR, driven by top-quartile volume growth and teens CCG in our international business, reinforcing our ambition to deliver ₹20,000+ crore in revenues by FY30 while aspiring to achieve a mid-teen EBITDA CAGR.

Following the earnings, shares of Marico were trading at ₹766.25 apiece on the National Stock Exchange, falling 2.33%.