Marico Limited Q2 Profit Rises 31%, Margin Reaches 18.2%

Marico Limited reported a 31% year-on-year rise in Q2 FY27 net profit to ₹550 crore, with EBITDA increasing 27% and the EBITDA margin expanding by 200 basis points to 18.2%. The company also raised its FY27 outlook after reporting broad-based growth across its India and international businesses.

What did Marico Limited report for Q2 FY27?

Marico Limited reported stronger profitability for the quarter ended September 30, 2026, as revenue growth, higher volumes and operating leverage supported earnings. Reported results summaries put Q2 revenue at ₹3,897 crore, up 12% year on year, while an earnings-call summary cited 13% consolidated revenue growth. The available disclosures do not explain the difference between the two reported growth figures.

Net profit rose 31% year on year to ₹550 crore. EBITDA increased 27%, outpacing the reported revenue growth, and the EBITDA margin improved by 200 basis points to 18.2%. The margin improvement came despite a 44% increase in advertising and promotion spending, indicating that operating performance remained resilient while the company increased brand investment.

How did the quarter’s growth unfold across businesses?

The quarter was supported by 10% volume growth in India and 13% constant-currency growth in the international business, according to the earnings-call highlights. The company also reported record Parachute volumes, underscoring the role of its core brands in the quarter’s performance.

Management discussed the quarterly financial results and operations during its investor and analyst conference call on November 2, 2026. The company had informed exchanges on October 15 that the call would take place at 6:00 p.m. IST and that its audio recording and transcript would subsequently be placed on its website.

The call was attended by senior management, including Managing Director and Chief Executive Officer Saugata Gupta and Group Chief Financial Officer and CEO - International Business Pawan Agrawal. The disclosed highlights point to broad-based gains rather than a single-business contribution, although the supplied information does not provide category-level revenue or profit numbers.

Why did Marico Limited raise its FY27 outlook?

Marico Limited raised its full-year outlook after the Q2 performance, expecting revenue growth in the teens and EBITDA growth in the mid-20s for FY27. Management said revenue is expected to comfortably exceed ₹15,000 crore during the year.

The revised outlook reflects the combination of India volume growth, international constant-currency expansion, improved mix and execution referenced in the earnings summaries. It also follows a quarter in which profit growth exceeded revenue growth and EBITDA margin expanded despite materially higher advertising and promotion expenditure.

The company now aspires to achieve its ₹20,000 crore revenue target by 2029, earlier than its previous FY30 ambition. This is a stated management aspiration, not a reported financial result, and its progress will depend on the company’s subsequent sales growth and execution.

What do the results mean for investors and operations?

For investors, the notable feature of the quarter is the gap between revenue growth and profit growth. Revenue rose at a reported 12% to 13%, while EBITDA and net profit increased 27% and 31%, respectively. The 200-basis-point margin expansion to 18.2% provides the clearest evidence of improved operating profitability in the quarter.

The 44% rise in advertising and promotion spending is also relevant to Marico’s operating approach. The company increased brand expenditure while maintaining higher margins, but the disclosed material does not break down spending by brand, product category or market. Investors will therefore need subsequent disclosures to assess the durability of this balance.

For customers and industry participants, the reported record Parachute volumes and 10% India volume growth show continued activity in Marico’s consumer products portfolio. International constant-currency growth of 13% indicates expansion outside India without the distortion of currency movements, though no country-wise figures were provided.

What disclosures and events frame the Q2 update?

The Q2 call followed Marico Limited’s earlier corporate disclosures during the year. On August 11, the company filed the transcript of its August 4 earnings conference call covering unaudited results and operations for the quarter ended June 30, 2026. It also filed the transcript of its 38th annual general meeting, held through video conferencing and other audio-visual means on August 6, on August 25.

These Regulation 30 disclosures under the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015 provide investors with access to management commentary and shareholder-meeting records. The company said the November 2 call recording and transcript would also be published on its website, enabling investors to review the detailed management discussion beyond the result highlights.

Conclusion

Marico Limited’s Q2 FY27 update showed a stronger profit outcome than topline growth, led by 31% net profit growth to ₹550 crore, 27% EBITDA growth and an 18.2% EBITDA margin. India volume growth, international constant-currency growth and record Parachute volumes formed the operating backdrop, while higher advertising spending did not prevent margin expansion.

The next key measure will be progress toward management’s FY27 expectation of teens revenue growth, revenue above ₹15,000 crore and mid-20s EBITDA growth. Investors can also track the company’s disclosed ambition to reach ₹20,000 crore of revenue by 2029 and any further detail in future earnings-call transcripts.