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Marico Ltd
| Quarterly Financial Results Q3 FY 2025-26
Summary : Marico Limited reported strong Q3 and YTD FY26 consolidated financial results with significant revenue and profit growth, driven by strategic acquisitions and international expansion.
Quarterly Report Analysis & Insights
Financial Disclosures
- Consolidated Total expenses Q3 FY26: Rs. 3,009 crore.
- Consolidated Total expenses YTD FY26: Rs. 8,649 crore.
- Standalone Total expenses Q3 FY26: Rs. 2,130 crore.
- Standalone Total expenses YTD FY26: Rs. 6,155 crore.
- Key expenses include cost of materials, stock-in-trade, employee benefits, advertisement.
- Consolidated Revenue from operations Q3 FY26: Rs. 3,537 crore.
- Consolidated Revenue from operations YTD FY26: Rs. 10,278 crore.
- Standalone Revenue from operations Q3 FY26: Rs. 2,461 crore.
- Standalone Revenue from operations YTD FY26: Rs. 7,197 crore.
- Consolidated India Segment Revenue Q3 FY26: Rs. 2,681 crore.
- Consolidated International Segment Revenue Q3 FY26: Rs. 856 crore.
- Consolidated Total Assets as of Dec 31, 2025: Rs. 9,176 crore.
- Consolidated Total Liabilities as of Dec 31, 2025: Rs. 4,469 crore.
- Paid-up equity share capital (Consolidated & Standalone): Rs. 130 crore.
- Both standalone and consolidated financial results are presented.
- Consolidated results include Marico Limited, its subsidiaries, and step-down subsidiaries.
Corporate Overview
- India
- Bangladesh
- Egypt
- South Africa
- Malaysia
- Sri Lanka
- Vietnam
- Monitoring finalization of new Indian Labour Codes.
- Leading consumer products company in global beauty and wellness categories.
- Factual and formal, reporting financial results and auditor's review.
- Touches lives of 1 out of every 3 Indians.
- India
- International (contributes about 25% of Group's revenue)
- Acquired 8.8% stake in Satiya Nutraceuticals Private Limited (Plix), increasing total stake to 60%.
- Acquired balance 46.02% equity in HW Wellness Solutions Private Limited (True Elements), increasing total stake to 100%.
Risk Factors
- Uncertainty from new Indian Labour Codes.
- Reliance on India, Asia, and Africa markets.
- Intense competition in consumer product segments.
- Potential challenges in integrating acquired businesses.
Key Drivers
- Completed Plix and True Elements acquisitions.
- Strong consolidated revenue growth in Q3.
- Increased net profit for the period.
- Global beauty and wellness market expansion.
Auditor’s Report
- Limited Review Report on unaudited consolidated and standalone financial results.
- Conclusion is not modified, no material misstatement identified.
Board Commentary
- Financial impact of new Labour Codes, though assessed as not material.
- New Labour Codes made effective from November 21, 2025, with rules yet to be notified.
- Acquisition of 8.8% stake in Satiya Nutraceuticals Private Limited (Plix).
- Acquisition of balance 46.02% equity in HW Wellness Solutions Private Limited (True Elements).
- Intra-group restructuring involving voluntary liquidation of Apcos Naturals Private Limited (Just Herbs) and distribution of its business undertaking to the Company.
Corporate Governance
- Audit Committee reviewed and approved financial results.
Management Discussion & Analysis
Future Strategy
- Continued focus on global beauty and wellness categories.
- Intra-group restructuring for business integration.
Performance Drivers
- Strategic acquisitions of Plix and True Elements.
- Growth in both India and International segments.
Risk Control Measures
- Assessed financial impact of new Labour Codes as not material.
- Monitoring finalization of Central/State Rules and clarifications.
Critical Risks
- Uncertainty regarding finalization of rules for new Indian Labour Codes.