Marico Limited Earnings Summary — Q4 FY2026

• Revenue grew significantly by 22% year-on-year to ₹3,333 Crores despite a sequential dip of 5.7%.
• Net Profit reached ₹408 Crores, an 18% improvement over the same quarter last year, though down from the previous quarter.
• Operating Profit Margins (OPM) contracted to 16% from 17% YoY and 17% in the previous quarter, indicating rising expense pressures.
• Expenses surged to ₹2,812 Crores in Q4 FY2026 compared to ₹2,272 Crores in Q4 FY2025.
• Tax rate remained efficient at 19%, lower than the 22% rate recorded in the prior year's corresponding quarter.
• The company maintains its market dominance in coconut oils and healthy foods despite high sensitivity to raw material price volatility.
• Capital efficiency remains high with an ROE reaching 43% for the fiscal year period ending March 2026.

Management focus remains on 'Project SETU' to expand direct reach and a strategic pivot toward digital-first brands like Beardo and True Elements to accelerate premium growth.

Stable

While revenue and profit show strong year-on-year growth, the compression in operating margins and sequential decline in both top and bottom lines suggests short-term cost headwinds.

Marico is expected to leverage its dominant 60% market share in coconut oils while transitioning into a multi-branded beauty and wellness conglomerate. The focus on value-added personal care and digital-first brands is aimed at countering commodity price volatility and driving premiumization.