Marico ends FY26 strong, sees steady demand recovery ahead

Mumbai: Marico said it had a strong March quarter, with consolidated revenue growing in the low twenties year on year, driven by high volume growth and steady performance across key segments.

The maker of Saffola and Parachute, in its quarterly update, said demand trends remained stable, with signs of gradual improvement expected in the coming quarters. However, it warned of the ongoing geopolitical tensions in the Middle East as a key risk, after its Gulf business saw some impact in March.

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In India, volumes grew in high single digits. Parachute coconut oil posted low single-digit volume growth, adjusting for pack size changes, as the company passed on benefits of lower copra prices to consumers. Saffola Oils saw high single-digit growth, driven by better volumes.

The value-added hair oils segment delivered strong growth in the twenties, continuing its recovery. The foods business also performed well, with high-teens growth.

International business remained a key driver, with high-teen growth in constant currency, although the Gulf region lagged due to external challenges.

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On costs, copra prices have fallen about 35% from peak levels, which should help margins but vegetable oil and crude-linked inputs are rising.