Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, copy of transcript of earnings conference call held on Friday, May 2, 2025 on ....
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Marico's MD & CEO Saugata Gupta and CFO Pawan Agrawal hosted the Q4 FY25 earnings call on May 2, 2025. The company crossed the ₹10,000 crore revenue milestone with double-digit consolidated revenue growth, while consolidated operating margin ended just shy of 20% despite input cost pressures. Foods business posted 44% YoY value growth in Q4 and surpassed ₹900 crore in FY25, with management guiding for 25%+ growth over the medium term. Digital-first portfolio (Beardo, Plix, Just Herbs, True Elements) exited FY25 at ₹750 crore ARR, with Beardo and Plix expected to cross ₹1,000 crore combined ARR. A&P spends rose 18% in FY25 and 35% in Q4 as management chose to invest behind future growth. International business delivered double-digit constant currency growth, with premium share rising from 20% (FY21) to 29% (FY25).
For FY26, management guides to sustain double-digit revenue growth and strive for double-digit operating profit growth, targeting the next milestone of ₹20,000 crores in revenue. Margin pressure is expected to persist for one more quarter due to elevated copra prices before easing from end of Q2 FY26, with volume growth expected to improve as input costs normalize.