Marico Q4 FY25: Profit +8%, FY25 revenue ₹10,831 Cr

Key takeaway from Marico’s March-quarter print

Marico closed Q4 FY25 with a higher profit and sharp revenue growth, even as margins tightened due to elevated raw material costs. Consolidated revenue for FY25 crossed the ₹10,000 crore mark for the first time, reaching ₹10,831 crore. The company also announced a final dividend of ₹7 per share, taking the FY25 total dividend (including interim) to ₹10.50 per share.

The results come at a time when FMCG companies are balancing rural recovery with uneven urban demand, while managing input inflation through calibrated price increases and higher brand spending.

Q4 FY25 numbers: profit up, revenue growth stays strong

For the quarter ended March 31, 2025, Marico reported consolidated profit after tax (PAT) of ₹343 crore, up 8% year-on-year from ₹318 crore in Q4 FY24. Revenue from operations rose 20% year-on-year to ₹2,730 crore, compared with ₹2,278 crore a year earlier.

Operating profit was steadier than topline growth. EBITDA increased 4% year-on-year to ₹458 crore. Profit before tax (PBT) rose 10.53% to ₹441 crore. However, profitability ratios moved lower as input costs remained high, reflected in margin contraction during the quarter.

FY25 crosses ₹10,000 crore revenue milestone

For FY25, Marico’s consolidated revenue from operations grew 12% year-on-year to ₹10,831 crore (FY24: ₹9,653 crore). Annual PAT rose 8% year-on-year to ₹1,593 crore (FY24: ₹1,470 crore).

Management highlighted the revenue milestone as a key outcome of its diversification strategy, with Foods and digital-first or premium personal care propositions becoming a larger part of the India business mix.

Margin pressure: EBITDA margin down to 16.8%

Despite the growth, Marico reported profitability pressure in Q4. EBITDA margin fell to 16.8% from 19.4% in Q4 FY24, a decline of about 260 basis points.

The company also pointed to a contraction of around 300 basis points in gross margin, primarily due to higher copra and vegetable oil prices. Strategic pricing actions in key portfolios helped offset part of the pressure, but the overall impact remained visible in the quarter’s margin profile.

India business: 14-quarter high on revenue and volumes

Marico said the India business delivered a strong quarter, with India revenues at ₹2,068 crore in Q4 FY25, up 23% year-on-year. Underlying volume growth in India stood at 7% year-on-year, described as the strongest in 14 quarters.

The company noted that about 95% of its India business either gained or sustained market share during the year. It also said around 80% of the portfolio maintained or improved penetration on a moving annual total (MAT) basis.

A separate performance disclosure in the provided text also mentioned India business profit rising 42% year-on-year to ₹325 crore, while India revenue from operations grew 14% to ₹1,870 crore from ₹1,637 crore.

International business: constant currency growth remains healthy

International performance was highlighted as being ahead of internal targets. In Q4 FY25, the international business grew 16% in constant currency terms. For FY25, the international segment maintained 14% constant currency growth.

The company said Bangladesh maintained momentum with double-digit growth, while the MENA and South Africa regions sustained rapid growth trajectories.

Portfolio mix and diversification: Foods and PPC gain share

Marico’s diversification push was a recurring theme in the disclosures. The Foods and Premium Personal Care (PPC) portfolios, including digital-first brands, contributed 22% of India revenues in FY25.

The company also stated that the combined contribution of these portfolios to India’s Net Contribution has risen nearly fivefold compared to FY22. It expects these portfolios to contribute around 25% of India revenues by FY27.

Cost actions, A&P spend, and category signals

Marico increased advertising and promotion (A&P) spend by 35% year-on-year in Q4, aligning with its stated intent to strengthen its brand portfolio and support diversification.

On input costs, Marico reported a 48% year-on-year increase in copra prices in FY25, and indicated this could keep pressure on gross margins through the end of Q1 FY26. The company said it expects copra prices to normalise by the end of Q2.

Operationally, the disclosures flagged mixed category trends: Parachute Rigids saw a 1% volume decline in Q4, while the Parachute brand recorded 22% revenue growth supported by pricing. For FY25, Parachute posted 2% volume growth and 13% revenue growth. Saffola posted 26% value growth despite a low single-digit volume decline amid elevated pricing.

Dividend: ₹7 final payout, key dates, and FY25 total

At its board meeting on May 2, 2025, Marico recommended a final dividend of ₹7 per equity share (face value ₹1), subject to shareholder approval at the 37th AGM. The record date for the final dividend is August 1, 2025. If approved, the dividend will be paid on or before September 7, 2025.

The company had declared an interim dividend of ₹3.50 per share on January 31, 2025. Together, the total dividend for FY25 amounts to ₹10.50 per share.

Market reaction: stock jumps on results day

Marico’s results triggered a sharp market reaction on May 5, 2025. The stock was reported trading at ₹724.80 on the NSE, up 3.62% for the day. Another update in the provided text also described the share price rising by around 5% and marking its sharpest single-day gain since June last year.

The same set of market notes said the Nifty FMCG index gained 1.23% by 10:00 AM, with Marico among the top performers.

Summary table: the headline financial data (₹ crore)

Why these results matter for investors

Marico’s Q4 FY25 print shows how FMCG earnings are being shaped by a mix of volume recovery, pricing actions, and margin volatility. The company’s ability to deliver 20% topline growth while maintaining profit growth suggests execution strength, but the margin compression underscores the sensitivity to commodity inputs like copra and vegetable oil.

For investors, the dividend announcement adds a clear near-term milestone, while the management commentary on diversification points to a shifting revenue mix within the India business. The next set of cues will likely come from input-cost trends, the trajectory of price increases already taken (including a 30% increase since Q1 FY25 for its flagship coconut oil brand as stated in the text), and whether volume momentum sustains as pricing normalises.

What to track next

Marico has flagged that copra-driven pressure could persist through the end of Q1 FY26, with an expectation of normalisation by end-Q2. Shareholders will also track the AGM outcome for the final dividend, along with the August 1 record date and the expected payment by September 7, 2025.

Further updates on the pace of growth in Foods, PPC, and international markets will be important, given the company’s stated aim of taking these portfolios to around 25% of India revenues by FY27.