Q2 FY27 update: India volume growth in double digits; operating profit expected to grow in mid-twenties

Marico Q2 FY27 update: India volume growth in double digits, Parachute Coconut Oil early teens, Value Added Hair Oils twenties.

Mon 5 Oct 2026

India volume growth

double digits

Parachute Coconut Oil volume growth

early teens

Value Added Hair Oils growth

twenties

International constant-currency growth

teens

Copra prices vs peak

~35% below peak levels

Marico has shared an update on the operating performance and demand trends witnessed during the quarter ended September 30, 2026. It is an early, largely qualitative picture of how the business moved. A detailed Information Update will follow once the Board approves the un-audited consolidated and standalone financial results for the quarter and half year ended September 30, 2026.

India business

• The company says the India business delivered another robust quarter, with underlying volume growth touching double digits.
• Parachute Coconut Oil sustained its strong performance and accelerated further, with volume growth in early teens.
• Saffola Oils delivered mid-single digit price-led growth, while volumes declined as the company focused on maintaining threshold profitability and rationalised supply of select variants.
• Value Added Hair Oils grew in the twenties, its sixth consecutive quarter of growth, helped by investments in the mid and premium segments, enhanced direct reach through Project SETU and growth in the Almond category.
• Foods and Premium Personal Care, including digital-first brands and shampoo, sustained growth momentum.

International business

• Constant currency growth was in the teens, led by strong performance in Vietnam, the Middle East and South Africa.
• Bangladesh witnessed a marginal sequential improvement, even as it continued to lap a high base amid persistently elevated inflation.

Consolidated picture

• Consolidated revenue is expected to grow in double digits, with the company pointing to core, digital and international portfolios.
• Operating profit is expected to grow in the mid-twenties.

Costs and margins

• The cost of crude-linked derivatives elevated further, while copra prices remained rangebound at ~35% below peak levels.
• Gross margin is expected to accelerate strongly on a year-on-year basis, led by a favourable portfolio mix and the tailwind from copra prices.
• ASP investments increased significantly, behind brand building and growth initiatives.

Outlook shared in the update

• With a strong performance through the first half, the company says it is likely to surpass its near-term guidance across key financial parameters.
• It maintains its aspiration of delivering sustainable and profitable volume-led growth over the medium term.

Company snapshot

• Marico recorded a turnover of ₹136.1 billion (USD 1.5 billion) in FY 2025-26.
• The overseas consumer products portfolio contributes about 24% of the Group's revenue.

What to watch next: the detailed Information Update and the Board-approved financial results for the quarter and half year ended September 30, 2026.

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