Marico Share Price in Focus After Q2 FY26 Earnings Results: Revenue Up 31%, PAT Grows 8%

Marico announced its consolidated financial results for the quarter ended September 30, 2025, on November 14, 2025. The FMCG company reported growth in both revenue and profitability despite facing input cost pressures during the quarter.

Marico Q2 FY26 Earnings Results Highlights

For Q2 FY26, Marico reported consolidated revenue from operations of ₹3,482 crore, marking a 31% increase YoY compared to ₹2,664 crore in Q2 FY25. The India business recorded 7% volume growth, while the international business posted 20% constant currency growth.

Consolidated profit after tax stood at ₹420 crore for the quarter (excluding one-offs), reflecting an 8% growth YoY from ₹388 crore in Q2FY25. EBITDA for Q2 FY26 was ₹560 crore, up 7% YoY, with EBITDA margin at 16.1%, down by 350bps.

Marico Half-Year Earnings Results

For the half year ended September 30, 2025, Marico's consolidated revenue from operations totalled ₹6,741 crore, registering a 27% increase from ₹5,307 crore in H1 FY25. Material costs for H1 FY26 stood at ₹3,727 crore compared to ₹2,573 crore in the corresponding period last year.

Consolidated profit after tax for H1 FY26 was ₹924 crore, showing an 8.45% growth from ₹852 crore in H1 FY25. EBITDA for the half year reached ₹1,215 crore, up 6% YoY, with EBITDA margin at 18%, down 360 basis points compared to H1 FY25.

India Business Segment Performance

The India business revenues stood at ₹2,667 crore, up 35% YoY, driven by price hikes in core portfolios. Parachute Coconut Oil, accounting for 36% of India's revenues, registered 59% value growth despite a 3% volume decline. Value Added Hair Oils grew 16% in value terms, gaining 150 basis points in market share.

Saffola Edible Oils reported flattish volumes with 19% revenue growth. The Foods portfolio grew 12% YoY and crossed ₹1,100 crore annualised run rate. Premium Personal Care, including the digital-first portfolio comprising Beardo, Just Herbs and Plix, crossed the ₹1,000 crore ARR mark.

International Business Growth

The international business maintained 20% constant currency growth for Q2 FY26. Bangladesh posted 22% CCG, maintaining robust momentum, while Vietnam grew 6% in CCG, showing signs of gradual recovery. MENA delivered 27% CCG with strong growth in both the Gulf region and Egypt.

South Africa recorded 1% CCG during the quarter, with expectations of recovery in H2 FY26. The NCD and Exports segment recorded 53% growth. Over 95% of the businesses gained or sustained market share, with over 75% gaining or sustaining penetration on a MAT basis.

Marico Q2 FY26 Earnings Results: Margin and Expense Analysis

Gross margin contracted by 810 basis points YoY as sharp inflation in key commodities exerted pressure during Q2 FY26. Advertising and sales promotion spends rose 19% YoY at ₹345 crore, reflecting continued investment in brand building. Employee costs for the quarter stood at ₹218 crore, up 2% YoY.

Material costs as a percentage of revenues stood at 57.4% in Q2 FY26 compared to 49.2% in Q2 FY25. Other expenses reached ₹362 crore, up 10% YoY. The company maintained focus on strengthening the long-term equity of franchises despite cost headwinds.

Marico Share Price Performance

On November 14, 2025, Marico share price opened at ₹722.00 on NSE, near the previous close of ₹722.00. During the day, it surged to ₹732.95 and dipped to ₹712.40. The stock is trading at ₹729.85 as of 1:29 PM. The stock registered a moderate gain of 1.09%.

Over the past week, it has moved up by 1.47%, over the past month, it has moved up by 0.57%, and over the past 3 months, it has moved up by 2.72%.

Read More: India’s Consumer Inflation Cools to Record Low of 0.25% in October, Driven by Falling Food Prices!

Conclusion

Marico Limited consolidated revenue of ₹3,482 crore for Q2 FY26, up 31% YoY and 6.84% QoQ. Consolidated profit after tax stood at ₹420 crore, growing 8% YoY.

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