On May 5, 2025, the FMCG giant Marico share price is on investors’ radar as the company has released its results for the quarter and year ended March 31, 2025. During the period, Marico recorded growth in revenue and volume. The Board of Directors recommended a final dividend of ₹7.00 per equity share of ₹1 each, on a paid-up equity share capital of approximately ₹129.5 crore.
In Q4FY25, Revenue from Operations amounted to ₹2,730 crore, marking a 20% year-on-year increase. This was fuelled by 7% underlying volume growth in the India business and 16% constant currency growth in the international segment. Notably, consolidated revenue, India revenue, and India volume growth all hit a 14-quarter high.
Gross margins contracted by ~300 basis points YoY, primarily due to rising copra and vegetable oil prices. However, this was partially offset by pricing actions in key categories. Advertising and promotional (A&P) spend increased 35% YoY in Q4 (up 18% for the full year), aligning with the company’s strategic focus on brand strengthening and diversification. As a result, EBITDA rose 4%, with the EBITDA margin at 16.8%, down ~260 basis points. Profit After Tax (PAT) grew by 8% YoY.
During Q4FY25, consumer sentiment remained steady, supported by improving rural demand and mixed performance across mass and premium urban segments. Both the HPC (Home and Personal Care) and Foods categories showed stable sequential growth.
For FY25, Revenue from Operations stood at ₹10,831 crore, up 12% YoY. The India business recorded a 5% underlying volume growth, while the international business posted a 14% increase in constant currency terms.
The India business continued its upward trajectory, delivering consistent volume growth. While there was a temporary impact from hyperinflation and resulting price hikes in core portfolios, the momentum in new businesses remained strong. Offtake remained robust, with approximately 95% of the portfolio either gaining or maintaining market share, and around 80% showing gains or stability in household penetration on a MAT basis. India revenues rose to ₹2,068 crore, up 23% YoY, aided by strategic price increases in response to higher input costs. Alternate channels continued to expand their share relative to General Trade.
The international business had another standout quarter, exceeding internal expectations. Bangladesh maintained strong double-digit growth in constant currency terms. While Vietnam experienced softness due to category-specific challenges, MENA and South Africa continued their rapid growth trajectories. Despite currency headwinds in key markets, which had an approximate 2% impact on consolidated EBITDA for FY25, the international business delivered a resilient topline and solid profitability.
The company expects a gradual improvement in growth across its core categories, driven by moderating trends in retail and food inflation, along with the anticipated benefits of a healthy monsoon season. This momentum is expected to be further supported by ongoing initiatives aimed at strengthening select General Trade (GT) channel partnerships and the transformative expansion of direct distribution under Project SETU.
Management remains confident, citing robust off-take levels, increased household penetration, and consistent market share gains across key portfolios. The company continues to focus on delivering differentiated growth in its urban-centric and premium product lines, particularly through organised retail and E-Commerce channels.
With a sharper, more targeted portfolio and SKU strategy tailored to each distribution channel, the company aims to achieve consistent and competitive growth over the medium term.
Also Read: Marico Commits to 93% Renewable Energy by 2030, Signs Green Energy Deal for Jalgaon Unit
Marico’ Q4FY25 results are backed by the steady consumer sentiment, improving rural demand and mixed performance across mass and premium urban segments.
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Published on: May 5, 2025, 7:47 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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