Marico Limited Sees Double-Digit India Volume Growth in Q2 FY27

Marico Limited said its India business recorded double-digit underlying volume growth in the quarter ended September 30, 2026, while consolidated revenue is expected to grow in double digits. Parachute Coconut Oil posted early-teens volume growth, Value Added Hair Oils grew in the twenties, and operating profit is expected to rise in the mid-twenties.

What did Marico Limited report for Q2 FY27?

Marico Limited reported resilient domestic demand in its quarterly operating update for Q2 FY27, despite a volatile operating environment. The company said its India business maintained strong momentum, with underlying volume growth reaching double digits during the September quarter.

The update was issued before the release of the company's detailed unaudited standalone and consolidated financial results. Marico Limited said a detailed information update will follow after its board approves the financial statements for the quarter and half year ended September 30, 2026.

The company expects consolidated revenue to grow in double digits, supported by its core categories, digital portfolio and international business. It also expects gross margin to accelerate year-on-year, aided by a favourable product mix and copra prices.

Marico Limited said operating profit is expected to grow in the mid-twenties. It added that advertising and sales promotion, or ASP, investments increased significantly as it continued to invest in brand building and growth initiatives.

Which Marico Limited businesses drove the quarterly performance?

Marico Limited said Parachute Coconut Oil accelerated during Q2 FY27, recording early-teens volume growth. The company attributed the performance to the brand's equity, consumer trust and supply-chain-led competitive advantage.

Value Added Hair Oils delivered its sixth consecutive quarter of growth in the twenties. Marico Limited linked this performance to investments in mid and premium segments, enhanced direct reach through Project SETU, and growth in the Almond category.

Saffola Oils recorded mid-single-digit price-led growth. However, volumes declined because the company focused on maintaining threshold profitability and rationalised the supply of select variants.

Foods and Premium Personal Care, including digital-first brands and shampoo, sustained their growth momentum. Marico Limited said these businesses remain aligned with its diversification aspirations, although the update did not provide segment-wise revenue or profit figures.

How did Marico Limited's international business perform?

Marico Limited said its international business delivered strong constant-currency growth in the teens during Q2 FY27. Vietnam, the Middle East and South Africa were identified as the key markets supporting this performance.

Constant-currency growth removes the effect of currency movements and helps show underlying business performance across overseas markets. The company did not disclose reported revenue growth, country-wise figures or individual international brand performance in the quarterly update.

The international business, together with core Indian categories and digital brands, is expected to support double-digit consolidated revenue growth. Detailed financial disclosures are due after the board considers the Q2 FY27 results.

What are the key figures and upcoming dates for Marico Limited?

Marico Limited has scheduled a board meeting on November 2, 2026, to consider and approve unaudited standalone and consolidated results for Q2 FY27 and the half year ended September 30, 2026. The auditors' Limited Review Report will also be considered at the meeting.

The company has also scheduled an investor and analyst conference call at 6:00 p.m. IST on November 2. Management will comment on the financial results and operations for the quarter and half year, while the call recording and transcript are to be published on the company's website.

The company also said its trading window for dealing in its shares is closed from September 26, 2026, to November 4, 2026, both days inclusive. This closure is linked to the scheduled release of financial results and is in line with applicable SEBI requirements.

Why do the Q2 FY27 trends matter for investors?

Marico Limited's update points to continued demand in its core India business, especially in Parachute Coconut Oil and Value Added Hair Oils. The reported double-digit volume growth is notable because it reflects demand growth rather than only price-led expansion in these categories.

At the same time, Saffola Oils illustrates the company's stated focus on profitability. The business recorded price-led growth, but volumes declined as Marico Limited rationalised supply of selected variants and sought to maintain threshold profitability.

Margin trends will be a key area when formal results are released. The company expects gross-margin acceleration year-on-year because of favourable mix and copra prices, while also increasing ASP investments. The eventual financial statements will show how these factors translated into reported profitability.

The prior disclosed financial data in the provided information showed revenue of ₹3,957 crore, operating profit of ₹763 crore and net profit of ₹652 crore for the quarter ended June 2026. Those figures are historical reference points and are separate from the company's Q2 FY27 operating update, which does not disclose final quarterly revenue or profit.

Conclusion

Marico Limited entered the Q2 FY27 results announcement with double-digit underlying volume growth in India, early-teens growth in Parachute Coconut Oil, and continued growth in Value Added Hair Oils. Its international business also recorded constant-currency growth in the teens, while the company expects double-digit consolidated revenue growth and mid-twenties operating-profit growth.

The next confirmed event is the November 2, 2026 board meeting, when Marico Limited is scheduled to consider its unaudited Q2 FY27 and half-year results along with the auditors' Limited Review Report. Investors will watch the detailed revenue, margin, profit and segment disclosures, followed by management's comments during the evening analyst call.