Marico Ltd.
MARICOFast Moving Consumer Goods filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
18 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 18 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20220512 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220816 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221110 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230210 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230511 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230804 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231103 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240205 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240513 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240812 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241105 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250207 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250509 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250811 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251121 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260130 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260512 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260811 | 2026-06-30 | yes |
MARICO
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 824.55 |
| 52-week range | 697.4 – 885.35 |
| Return 1M | -2.71% |
| Return 3M | -0.15% |
| Return 1Y | 16.54% |
| Return 3Y | 42.46% |
| Return 5Y | 47.94% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 3,957.00 |
| Other income | 48.00 |
| Total income | 4,005.00 |
| Cost of materials consumed | 1,751.00 |
| Purchases of stock-in-trade | 488.00 |
| Changes in inventories | -127.00 |
| Employee benefit expense | 269.00 |
| Finance costs | 21.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.59 | -0.00 |
| institutions foreign | 0.23 | -0.01 |
| institutions domestic | 0.13 | 0.01 |
| mutual funds | 0.08 | -0.00 |
| public | 0.41 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 18 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 2,496.00 | 2,470.00 | 2,240.00 | 2,477.00 | 2,476.00 | 2,422.00 | 2,278.00 | 2,643.00 | 2,664.00 | 2,794.00 | 2,730.00 | 3,259.00 | 3,482.00 | 3,537.00 | 3,333.00 | 3,957.00 |
| Other income | 19.00 | 40.00 | 68.00 | 46.00 | 38.00 | 43.00 | 15.00 | 37.00 | 82.00 | 42.00 | 47.00 | 56.00 | 49.00 | 39.00 | 60.00 | 48.00 |
| Total income | 2,515.00 | 2,510.00 | 2,308.00 | 2,523.00 | 2,514.00 | 2,465.00 | 2,293.00 | 2,680.00 | 2,746.00 | 2,836.00 | 2,777.00 | 3,315.00 | 3,531.00 | 3,576.00 | 3,393.00 | 4,005.00 |
| Cost of materials consumed | 1,246.00 | 1,158.00 | 1,060.00 | 989.00 | 1,106.00 | 908.00 | 938.00 | 1,107.00 | 1,149.00 | 1,283.00 | 1,033.00 | 1,184.00 | 1,910.00 | 1,525.00 | 1,578.00 | 1,751.00 |
| Purchases of stock-in-trade | 183.00 | 106.00 | 113.00 | 173.00 | 228.00 | 232.00 | 119.00 | 207.00 | 256.00 | 245.00 | 252.00 | 317.00 | 542.00 | 425.00 | 281.00 | 488.00 |
| Changes in inventories | -22.00 | 96.00 | 5.00 | 77.00 | -108.00 | 40.00 | 46.00 | -52.00 | -94.00 | -117.00 | 119.00 | 229.00 | -455.00 | 47.00 | -24.00 | -127.00 |
| Employee benefit expense | 166.00 | 160.00 | 171.00 | 181.00 | 187.00 | 189.00 | 186.00 | 203.00 | 213.00 | 207.00 | 208.00 | 220.00 | 218.00 | 241.00 | 237.00 | 269.00 |
| Finance costs | 15.00 | 14.00 | 17.00 | 17.00 | 20.00 | 19.00 | 17.00 | 17.00 | 11.00 | 13.00 | 12.00 | 10.00 | 12.00 | 14.00 | 17.00 | 21.00 |
| Depreciation and amortisation | 37.00 | 39.00 | 43.00 | 36.00 | 39.00 | 42.00 | 41.00 | 41.00 | 41.00 | 44.00 | 52.00 | 45.00 | 47.00 | 50.00 | 60.00 | 56.00 |
| Other expenses | 490.00 | 494.00 | 498.00 | 483.00 | 566.00 | 540.00 | 547.00 | 552.00 | 618.00 | 643.00 | 660.00 | 654.00 | 707.00 | 707.00 | 740.00 | 757.00 |
| Total expenses | 2,115.00 | 2,067.00 | 1,907.00 | 1,956.00 | 2,038.00 | 1,970.00 | 1,894.00 | 2,075.00 | 2,194.00 | 2,318.00 | 2,336.00 | 2,659.00 | 2,981.00 | 3,009.00 | 2,889.00 | 3,215.00 |
| Profit before exceptional items and tax | 400.00 | 443.00 | 401.00 | 567.00 | 476.00 | 495.00 | 399.00 | 605.00 | 552.00 | 518.00 | 441.00 | 656.00 | 550.00 | 567.00 | 504.00 | 790.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 400.00 | 443.00 | 401.00 | 567.00 | 476.00 | 495.00 | 399.00 | 605.00 | 552.00 | 518.00 | 441.00 | 656.00 | 550.00 | 567.00 | 504.00 | 790.00 |
| Current tax | 92.00 | 84.00 | 86.00 | 115.00 | 101.00 | 61.00 | 76.00 | 135.00 | 117.00 | 129.00 | 99.00 | 157.00 | 148.00 | 126.00 | 112.00 | 200.00 |
| Deferred tax | 1.00 | 26.00 | 10.00 | 16.00 | 15.00 | 48.00 | 3.00 | -4.00 | 2.00 | -17.00 | -3.00 | -14.00 | -30.00 | -19.00 | -16.00 | -62.00 |
| Tax expense | 93.00 | 110.00 | 96.00 | 131.00 | 116.00 | 109.00 | 79.00 | 131.00 | 119.00 | 112.00 | 96.00 | 143.00 | 118.00 | 107.00 | 96.00 | 138.00 |
| Profit for the period | 307.00 | 333.00 | 305.00 | 436.00 | 360.00 | 386.00 | 320.00 | 474.00 | 433.00 | 406.00 | 345.00 | 513.00 | 432.00 | 460.00 | 408.00 | 652.00 |
| Profit attributable to owners | 301.00 | 328.00 | 302.00 | 427.00 | 353.00 | 383.00 | 318.00 | 464.00 | 423.00 | 399.00 | 343.00 | 504.00 | 420.00 | 447.00 | 391.00 | 630.00 |
| Profit attributable to non-controlling interests | 6.00 | 5.00 | 3.00 | 9.00 | 7.00 | 3.00 | 2.00 | 10.00 | 10.00 | 7.00 | 2.00 | 9.00 | 12.00 | 13.00 | 17.00 | 22.00 |
| Other comprehensive income | -27.00 | 22.00 | -24.00 | -18.00 | -23.00 | 4.00 | -36.00 | -59.00 | 17.00 | -17.00 | -15.00 | -14.00 | 24.00 | 26.00 | 31.00 | 13.00 |
| Total comprehensive income | 280.00 | 355.00 | 281.00 | 418.00 | 337.00 | 390.00 | 284.00 | 415.00 | 450.00 | 389.00 | 330.00 | 499.00 | 456.00 | 486.00 | 439.00 | 665.00 |
| Earnings per share, basic | 2.32 | 2.53 | 2.34 | 3.30 | 2.73 | 2.97 | 2.46 | 3.60 | 3.26 | 3.08 | 2.65 | 3.90 | 3.24 | 3.45 | 3.04 | 4.86 |
| Earnings per share, diluted | 2.32 | 2.53 | 2.34 | 3.30 | 2.73 | 2.96 | 2.45 | 3.59 | 3.26 | 3.07 | 2.65 | 3.89 | 3.24 | 3.44 | 3.03 | 4.85 |
Annual results, as filed
| Line | 2019-03-31 | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 7,334.00 | 7,315.00 | 8,048.00 | 9,512.00 | 9,764.00 | 9,653.00 | 10,831.00 | 13,611.00 |
| Other income | 103.00 | 124.00 | 94.00 | 98.00 | 144.00 | 142.00 | 208.00 | 204.00 |
| Total income | 7,437.00 | 7,439.00 | 8,142.00 | 9,610.00 | 9,908.00 | 9,795.00 | 11,039.00 | 13,815.00 |
| Cost of materials consumed | 3,995.00 | 3,428.00 | 3,884.00 | 5,061.00 | 4,649.00 | 3,941.00 | 4,572.00 | 6,197.00 |
| Purchases of stock-in-trade | 145.00 | 177.00 | 339.00 | 491.00 | 541.00 | 752.00 | 960.00 | 1,565.00 |
| Changes in inventories | -123.00 | 140.00 | 47.00 | -116.00 | 161.00 | 55.00 | -144.00 | -203.00 |
| Employee benefit expense | 466.00 | 478.00 | 570.00 | 586.00 | 653.00 | 743.00 | 831.00 | 916.00 |
| Finance costs | 24.00 | 50.00 | 34.00 | 39.00 | 56.00 | 73.00 | 53.00 | 53.00 |
| Depreciation and amortisation | 96.00 | 140.00 | 139.00 | 139.00 | 155.00 | 158.00 | 178.00 | 202.00 |
| Other expenses | 1,570.00 | 1,623.00 | 1,617.00 | 1,809.00 | 1,950.00 | 2,136.00 | 2,473.00 | 2,808.00 |
| Total expenses | 6,173.00 | 6,036.00 | 6,630.00 | 8,009.00 | 8,165.00 | 7,858.00 | 8,923.00 | 11,538.00 |
| Profit before exceptional items and tax | 1,264.00 | 1,403.00 | 1,512.00 | 1,601.00 | 1,743.00 | 1,937.00 | 2,116.00 | 2,277.00 |
| Exceptional items | 0.00 | -29.00 | 13.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 1,264.00 | 1,374.00 | 1,525.00 | 1,601.00 | 1,743.00 | 1,937.00 | 2,116.00 | 2,277.00 |
| Current tax | 331.00 | 347.00 | 335.00 | 343.00 | 377.00 | 353.00 | 480.00 | 543.00 |
| Deferred tax | -203.00 | -16.00 | -11.00 | 3.00 | 44.00 | 82.00 | -22.00 | -79.00 |
| Tax expense | 128.00 | 331.00 | 324.00 | 346.00 | 421.00 | 435.00 | 458.00 | 464.00 |
| Profit for the period | 1,135.00 | 1,043.00 | 1,199.00 | 1,255.00 | 1,322.00 | 1,502.00 | 1,658.00 | 1,813.00 |
| Profit attributable to owners | 1,118.00 | — | 1,172.00 | 1,225.00 | 1,302.00 | 1,481.00 | 1,629.00 | 1,762.00 |
| Profit attributable to non-controlling interests | 17.00 | — | 27.00 | 30.00 | 20.00 | 21.00 | 29.00 | 51.00 |
| Other comprehensive income | -18.00 | 42.00 | 5.00 | 35.00 | -32.00 | -73.00 | -74.00 | 67.00 |
| Total comprehensive income | 1,117.00 | 1,085.00 | 1,204.00 | 1,290.00 | 1,290.00 | 1,429.00 | 1,584.00 | 1,880.00 |
| Earnings per share, basic | 8.67 | 7.91 | 9.08 | 9.50 | 10.08 | 11.46 | 12.59 | 13.62 |
| Earnings per share, diluted | 8.67 | 7.91 | 9.08 | 9.49 | 10.05 | 11.43 | 12.56 | 13.59 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 7,034.00 | 6,946.00 | 8,164.00 | 7,421.00 | 8,124.00 | 8,338.00 | 8,679.00 | 10,075.00 |
| Non-current assets | 2,563.00 | 3,126.00 | 3,629.00 | 3,418.00 | 3,345.00 | 3,255.00 | 3,286.00 | 4,215.00 |
| Current assets | 4,471.00 | 3,813.00 | 4,530.00 | 3,998.00 | 4,779.00 | 5,083.00 | 5,393.00 | 5,860.00 |
| Property, plant and equipment | 805.00 | 808.00 | 879.00 | 909.00 | 908.00 | 940.00 | 971.00 | 1,090.00 |
| Capital work-in-progress | 43.00 | 67.00 | 64.00 | 44.00 | 53.00 | 40.00 | 52.00 | 85.00 |
| Goodwill | 711.00 | 862.00 | 891.00 | 863.00 | 871.00 | 857.00 | 862.00 | 1,036.00 |
| Other intangible assets | 520.00 | 560.00 | 918.00 | 937.00 | 939.00 | 946.00 | 948.00 | 1,498.00 |
| Inventories | 1,432.00 | 1,225.00 | 1,299.00 | 1,336.00 | 1,371.00 | 1,235.00 | 1,598.00 | 1,611.00 |
| Trade receivables | 988.00 | 1,015.00 | 1,166.00 | 1,069.00 | 1,297.00 | 1,271.00 | 1,666.00 | 1,304.00 |
| Cash and cash equivalents | 157.00 | 207.00 | 262.00 | 228.00 | 216.00 | 321.00 | 419.00 | 404.00 |
| Total equity and liabilities | 7,034.00 | 6,946.00 | 8,164.00 | 7,421.00 | 8,124.00 | 8,338.00 | 8,679.00 | 10,075.00 |
| Equity | 3,901.00 | 3,956.00 | 4,605.00 | 4,169.00 | 4,956.00 | 4,266.00 | 4,206.00 | 4,494.00 |
| Equity share capital | 129.00 | 129.00 | 129.00 | 129.00 | 129.00 | 129.00 | 130.00 | 130.00 |
| Other equity | 3,624.00 | 3,670.00 | 4,087.00 | 3,703.00 | 4,526.00 | 3,846.00 | 3,922.00 | 4,080.00 |
| Total liabilities | 3,133.00 | 2,990.00 | 3,559.00 | 3,252.00 | 3,168.00 | 4,072.00 | 4,473.00 | 5,581.00 |
| Non-current liabilities | 534.00 | 561.00 | 1,032.00 | 808.00 | 823.00 | 1,611.00 | 1,636.00 | 1,480.00 |
| Current liabilities | 2,599.00 | 2,429.00 | 2,527.00 | 2,444.00 | 2,345.00 | 2,461.00 | 2,837.00 | 4,101.00 |
| Borrowings, non-current | 3.00 | 2.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Borrowings, current | 390.00 | 473.00 | 344.00 | 383.00 | 339.00 | 379.00 | 392.00 | 355.00 |
| Trade payables | 1,662.00 | 1,452.00 | 1,687.00 | 1,581.00 | 1,482.00 | 1,363.00 | 1,892.00 | 1,634.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 640.00 | 1,419.00 | 835.00 | 1,436.00 | 375.00 | 1,363.00 | 701.00 | 2,084.00 |
| Net cash from investing activities | -758.00 | -929.00 | -630.00 | 176.00 | -154.00 | -621.00 | 600.00 | -722.00 |
| Net cash from financing activities | -21.00 | -560.00 | -186.00 | -1,542.00 | -177.00 | -649.00 | -1,203.00 | -1,279.00 |
| Purchase of property, plant and equipment | 82.00 | 182.00 | 80.00 | 153.00 | 108.00 | 161.00 | 142.00 | 319.00 |
| Net increase in cash | -183.00 | -133.00 | -7.00 | 21.00 | -12.00 | 93.00 | 98.00 | 83.00 |
| con:CFO.BEFORE_TAX | 795.00 | 1,788.00 | 1,000.00 | 1,814.00 | 554.00 | 1,847.00 | 946.00 | 2,649.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 155.00 | 369.00 | 165.00 | 378.00 | 179.00 | 484.00 | 245.00 | 565.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 130.00 | 0.00 | -380.00 | 0.00 | 912.00 | 0.00 | 341.00 |
| con:INVESTMENTS_SOLD | -519.00 | -349.00 | -431.00 | -32.00 | -148.00 | 343.00 | 719.00 | 359.00 |
| con:PPE_DISPOSALS | 0.00 | 25.00 | 17.00 | 18.00 | 66.00 | 39.00 | 9.00 | 7.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 168.00 | 341.00 | 153.00 | 103.00 | 0.00 | 0.00 | 0.00 | 452.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 59.42 | 59.42 | 59.40 | 59.39 | 59.35 | 59.28 | 59.20 | 59.11 | 59.05 | 59.03 | 0.59 | 0.59 | 0.59 | 0.59 |
| Domestic institutions | 10.42 | 10.55 | 9.82 | 9.96 | 10.09 | 11.30 | 11.21 | 12.86 | 14.21 | 12.71 | 0.12 | 0.12 | 0.12 | 0.13 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 7.72 | 0.08 | 0.09 | 0.09 | 0.08 |
| Insurance companies | 5.48 | 5.61 | 5.48 | 5.72 | 6.02 | 5.91 | 5.80 | 5.83 | 5.82 | 4.34 | 0.03 | 0.03 | 0.03 | 0.04 |
| Foreign institutions | 24.97 | 24.96 | 25.91 | 25.69 | 25.54 | 24.61 | 24.87 | 23.36 | 22.08 | 23.62 | 0.24 | 0.24 | 0.24 | 0.23 |
| Government | — | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 40.47 | 40.48 | 40.49 | 40.53 | 40.54 | 40.61 | 40.69 | 40.81 | 40.83 | 40.85 | 0.41 | 0.41 | 0.41 | 0.41 |
| Non-institutional | 5.08 | 4.97 | 4.76 | 4.88 | 4.91 | 4.69 | 4.61 | 4.60 | 4.53 | 4.52 | 0.05 | 0.04 | 0.04 | 0.04 |
| Shares outstanding | 1293084378 | 1293177368 | 1293596488 | 1293851918 | 1294101828 | 1294634663 | 1294742723 | 1295249082 | 1295497599 | 1295999290 | 1297935668 | 1298087659 | 1298148935 | 1298386399 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Marico Bangladesh Limited | Subsidiary | Any other transaction, Dividend received, Purchase o | 3,222,500,000.00 | 11 |
| Marico South East Asia Corporation | Subsidiary | Any other transaction, Purchase of goods or services | 884,300,000.00 | 8 |
| Marico Middle East FZE | Subsidiary | Any other transaction, Sale of goods or services | 762,500,000.00 | 7 |
| Mr. Arush Chopra, Ms. Megha Sabhlok, Ms. Neena Chopra | Acquisition of remaining stake fro | Investment | 697,700,000.00 | 1 |
| Mr. Saugata Gupta | Managing Director & Chief Exec | Remuneration | 249,500,000.00 | 1 |
| Marico Limited Employees Provident Fund | Post Employment Benefit Plan Trust | Any other transaction | 195,100,000.00 | 1 |
| Juizo Advisory Private Limited (JAPL) | Subsidiaries | Any other transaction, Sale of goods or services | 162,300,000.00 | 2 |
| Apcos Naturals Private Limited | Subsidiary | Any other transaction, Loan | 125,500,000.00 | 3 |
| Mr. Pawan Agrawal | Chief Financial Officer (KMP) | Remuneration | 92,700,000.00 | 1 |
| Marico for Consumer Care Products S.A.E (Erstwhile Wind Co) | Subsidiary | Any other transaction, Purchase of goods or services | 81,900,000.00 | 7 |
| Parachute Kalpavriksha Foundation | Wholly Owned Subsidiary whose acco | Any other transaction | 46,000,000.00 | 1 |
| Marico South Africa (Pty) Ltd | Subsidiary | Any other transaction, Purchase of goods or services | 44,500,000.00 | 3 |
| Third Party to Marico Middle East FZE | Third Party to Marico Middle East | Any other transaction | 43,400,000.00 | 1 |
| Amit Prakash | Director/KMP of subsidiary | Remuneration | 38,300,000.00 | 1 |
| Marico Limited Employees Gratuity Fund | Post Employment Benefit Plan Trust | Any other transaction | 35,200,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-11 | Q1FY27 | INTERNATIONAL BUSINESS, MARICO LIMITED | Read the call |
| 2026-05-12 | Q4FY26 | INTERNATIONAL BUSINESS, MARICO LIMITED | Read the call |
| 2026-01-30 | Q3FY26 | Read the call | |
| 2025-11-21 | Q2FY26 | ASIA), MARICO LIMITED | Read the call |
| 2025-08-11 | Q1FY26 | ASIA), MARICO LIMITED | Read the call |
| 2025-05-09 | Q4FY25 | LIMITED | Read the call |
| 2025-02-07 | Q3FY25 | LIMITED | Read the call |
| 2024-11-05 | Q2FY25 | LIMITED | Read the call |
| 2024-08-12 | Q1FY25 | LIMITED | Read the call |
| 2024-05-13 | Q4FY24 | LIMITED | Read the call |
| 2024-02-05 | Q3FY24 | MARICO LIMITED | Read the call |
| 2023-11-03 | Q2FY24 | MARICO LIMITED | Read the call |
| 2023-08-04 | Q1FY24 | MARICO LIMITED | Read the call |
| 2023-05-11 | Q4FY23 | MARICO LIMITED | Read the call |
| 2023-02-10 | Q3FY23 | MARICO LIMITED | Read the call |
| 2022-11-10 | Q2FY23 | EXECUTIVE OFFICER | Read the call |
| 2022-08-16 | Q1FY23 | CHIEF EXECUTIVE OFFICER | Read the call |
| 2022-05-12 | Q4FY22 | CHIEF EXECUTIVE OFFICER | Read the call |
What they said about it, quarter by quarter
| Topic | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY22 | Q4FY23 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capital allocation | Because another listed company in similar space took distribution 10x post-acquisition. | — | My first question is on the new acquisition. | 100 crores annual run rate exit basis and is tracking much ahead of acquisition assumptions, which gives us tremendous confidence and shows that we ha… | We believe because of our acquisition of some of the digital brands, our digital marketing and e-com capabilities are, perhaps, leading edge in the in… | And apart from that, also this quarter we have a lower investment income due to higher dividend payout. | However, the dividend payout has been a record high in FY25. I just want to understand the reason behind it. | So if I look at the 16% growth, I assume this includes turnover part quarter turnover from the acquisition. |
| Costs | — | — | At current levels, our price premium is still tolerable, and therefore, we will wait, , by a certain time, where we get a visibility of what will be t… | However, despite the continuous cost pressure at an overall level on a YoY basis, we have chosen to ramp up investments in brand building and not comp… | While we have passed on the benefits of lower input cost to the consumer, we have maintained A&P spends, which has grown 8% on a 4-year CAGR basis, wh… | So, we should take it as a bound that you try to keep it within that range, and we should read it only as volatility in raw material and not that incr… | Margins for most players were under pressure due to input cost pressures. | To sum up, we have delivered on our aspirations across key performance parameters while navigating a highly volatile input cost environment and streng… |
| Debt and cash | — | It included actions such as segregating facts across channels, implementing a minimum operating price and elevating our strain on our partners by redu… | — | — | — | — | Second, availability is also a problem as they have to get working capital to buy copra, at higher prices. | And also what happens when it's high inflation, they have working capital constraints, they are not able to stock and have kind of a position buildup … |
| Demand | Growth continued to be impacted by extended weakness in rural demand and sustained competitive pressures in the bottom-of-the-pyramid segment. | The FMCG sector exhibited reasonably steady demand sentiment during the quarter. | Our demand conditions during the quarter remained stable. | FY22 ended on a relatively positive note for us as we stepped up our performance consistently through the year despite a variety of external disturban… | So, is there any kind of, sort of pipeline or any kind of one-off that we need to be aware of? | Volume growth for the sector, on a normalized basis, has remained stable, even while grappling with volatile input prices, erratic climate events, sub… | During the quarter, consumer sentiment remained largely stable, supported by improving rural demand and mixed trends across mass and affluent urban se… | During the quarter, demand sentiment remained broadly stable, supported by benign inflation, improving rural sentiment and favorable policy stimulus. |
| Guidance | We expect these initiatives to have a gradual and positive impact on sentiment in the channel and in the quarters ahead while the pressure on our pric… | Saffola edible oils also demonstrated stability despite significant price hikes over the past few months driven by the import duty hike, we expect the… | While we expect near-term performance to remain stable, easing absolute consumer prices will support a gradual recovery in volume growth over the cour… | Delving into the India business, Parachute Coconut Oil has been proactive in passing on value to the consumers in a soft copra environment and we expe… | Delving deeper into the India business, we shall touch upon the key trends in each of our categories and our strategy and outlook for the period ahead… | We expect domestic volume growth to trend up consistently from Q1 FY25. We have continued to witness healthy offtakes with 75% of the business either … | Given the extended firmness in copra prices due to lower arrival in the market, the awaited correction is most probably going to happen towards Q2. As… | We expect VAHO to sustain its double- digit volume-led growth trajectory, supported by a focused innovation pipeline, improved availability following … |
| Margin | The brand also exercised discretion in billing across channels as it did not want to operate below a margin threshold. | Pricing growth across categories was up sequentially as companies implemented pricing hikes to counter margin pressure from the sharp rise in commodit… | We are on track to reach 2.5x of FY '24 ARR next year, and we are making concerted efforts to move to double-digit EBITDA margin in the Digital-First … | Both demand and margin trends should improve towards the second half of this year. | 350 crore revenue milestone and going forward, we aim to deliver a 20% plus growth consistently across the portfolio, which is a high-margin portfolio… | We have expanded gross margin of foods by about 800 bps in FY24 through some of the aforesaid initiatives and expect this to further improve as we sca… | Beardo has scaled ~4x since FY21 and has reached near double-digit EBITDA margin. | These high- margin segments have delivered close to double-digit volume growth on a two-year CAGR basis. |
| People | — | Given a choice between 60% growth, and high cash burn, versus 25%-30% growth and having responsibility towards both capital utilization and managing p… | — | This is also reflecting in the talent we are hiring and how we are imbibing new ways of working, which we believe will enable us to transform into a d… | — | — | — | — |
| Pricing | Delving further, volume growth in Parachute improved sequentially as loose to branded conversion appeared to regain some pace with the brand running c… | Parachute posted a resilient performance despite a steep input and pricing increases absorbing a circa 1% volume impact due to ml-age reduction in one… | Moving on to our quarterly performance, the India business demonstrated a sequential improvement in volume growth despite an elevated pricing environm… | We have been also able to inch up our gross margins sequentially for third quarter in a row with calibrated price hikes, cost rationalization and abou… | Now I understand your comment on pricing headwinds, but with Parachute stabilizing and back on the growth path, Saffola offtakes improving, volume gro… | Gradual escalation in copra prices is a positive for the brand as it affords us the opportunity to strategically leverage the brand’s pricing power an… | Moving to our performance in Q4, India business continued to deliver sequential improvement in volume growth and strong top-line growth aided by prici… | Saffola Edible Oils delivered steady performance in an elevated pricing environment. |
| Revenue growth | And the drivers Saugata spoke about, drivers would be first of all, we definitely expect the revenue growth to be in double digits if there's inflatio… | Moving on to our performance, India business posted a sequential uptick in underlying volume growth and a robust high teen revenue growth. | Saffola Edible Oil had a soft quarter in a relatively elevated pricing environment, with revenue growth moderating as prior pricing actions largely an… | Given the circumstances, we have single-mindedly focused on strengthening our brands and executing smartly, which reflects in the consistent double-di… | 850 crores in topline in Foods in FY24. This would be underpinned by expected buoyancy in urban consumption while we maintain steadfast focus on marke… | Domestic volume growth was flattish after three quarters of decline, owing to incremental anniversarization of pricing drops taken in key portfolios l… | It is important to note that the growth of listed companies alone does not provide a comprehensive picture of consumption trends, commentary from unli… | At a consolidated level, we aim to deliver double-digit revenue growth to cross INR15,000 crores in revenues and high-teen EBITDA growth, subject to s… |
What they said they would do
Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.
| Date | Quarter | Who | What they said |
|---|---|---|---|
| 2023-02-10 | Q3FY23 | MARICO LIMITED | And we are pretty confident that in this part of the portfolio, we should be able to deliver 20%-plus, if not higher growth in the next two to three years. |
| 2023-05-11 | Q4FY23 | MARICO LIMITED | 350 crore revenue milestone and going forward, we aim to deliver a 20% plus growth consistently across the portfolio, which is a high-margin portfolio. |
| 2023-05-11 | Q4FY23 | MARICO LIMITED | Last but not the least, we have maintained an uptrend in gross margins over the last 2 years and we expect an uptick of another 200 to 250 bps YoY in FY24, keeping all factors constant, given the cooling off in commodity inflation and portfolio mix normalizing favorably. |
| 2023-05-11 | Q4FY23 | MARICO LIMITED | Owing to the above, we expect operating margins to move up by more than 100 bps year-on-year basis in FY24. We believe that we are moving in the right direction along the 4 strategic areas of diversification, distribution, digital and diversity, and we are confident of delivering improvement across all the 3 parameters of volume, revenue and earnings growth in FY24. We continue to make visible progress in our ESG program in each of our focus areas. ‘Creating shared value for all’ remains the ingrained purpose of our business and will allow us to drive superior long-term performance. |
| 2023-08-04 | Q1FY24 | MARICO LIMITED | While volume growth in core categories of Coconut Oil and Value Added Hair Oils was subdued in Q1 by this one-off impact and muted rural sentiment, we expect an uptick in both portfolios from Q2. Now that one-offs are out of the way, we expect volume growth to resume an improving trajectory from Q2, as indicated by healthy offtakes and ~85% of our portfolio either gaining/sustaining market share and penetration, on MAT basis. |
| 2023-08-04 | Q1FY24 | MARICO LIMITED | We expect this portfolio to contribute to ~10% of domestic revenues in FY24. As specific Foods and Digital-first franchises attain scale, we are also charting a path towards making significant improvements in profitability and significantly reducing cash burn rates in our Digital business. |
| 2023-08-04 | Q1FY24 | MARICO LIMITED | While we will continue to invest in A&P and maintain our share of voice ahead of share of market, we expect operating margins to expand to 20%+ levels in FY24, higher than envisaged earlier. |
| 2023-11-03 | Q2FY24 | MARICO LIMITED | Premium Personal Care delivered healthy double-digit growth and is on track to contribute 10% of FY24 domestic revenue. |
| 2023-11-03 | Q2FY24 | MARICO LIMITED | A&P as a percentage of sales is likely to be 9.5%+ this year. |
| 2023-11-03 | Q2FY24 | MARICO LIMITED | In light of the H1 performance, we expect operating margin to expand by 200 bps in FY24, and we are on course to deliver our highest-ever operating margin on a full year basis this year. |
| 2024-02-05 | Q3FY24 | MARICO LIMITED | Top line growth continued to be dragged by erstwhile pricing interventions and domestic portfolio and devaluation headwinds in certain international geographies, but we expect this to taper off further as revenue growth is expected to turn positive in Q4. On the profitability front, we will be delivering record high operating margin this year, led by gross margins which are set to expand by 450-500 bps and even after ramping up brand building investments behind both, the core and new businesses. |
| 2025-08-11 | Q1FY26 | ASIA), MARICO LIMITED | We remain on track to deliver over 25% growth this year and over the medium- term, while steadily improving profitability. |