Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, copy of transcript of the earnings conference call held on Monday, August 4, 2025 on the un-audited financial results and operations of the Company for the quarter ended June 30, 2025 is enclosed.The said transcript is also available on the Company's website.
MARICO · price
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Marico's Q1 FY26 earnings call highlighted India volume growth nearing double-digits and multi-year-high revenue growth, supported by pricing actions taken in response to sharp copra and edible oil inflation. The Parachute coconut oil brand absorbed a cumulative 60%+ price increase while holding volumes and gaining market share, with copra prices now down 10-12% from July peaks. Value-Added Hair Oils gained 140 bps market share and management is confident of sustaining double-digit growth, while the Foods portfolio is on track for 25%+ annual growth. The digital-first portfolio (Beardo, Just Herbs, Plix) crossed ₹850 crore ARR, targeting 2.5x of FY24 ARR and double-digit EBITDA margins by FY27. Management guided to ~25% revenue growth for FY26 but warned that operating margins will look optically suppressed this year; they remain confident of double-digit profit CAGR over the next two years and reaching ₹15,000-20,000 crore revenue within 2-5 years.
Near-term optically weak margins and lingering copra cost pressure may cap upside, but management's confidence in volume resilience, market share gains, and medium-term margin recovery supports a constructive outlook. Investors should track copra price normalization, Foods profitability, and digital portfolio scaling.