Marico Ltd. Q2 FY26 Performance Outlook & Key Drivers

Marico has projected a significant acceleration in its consolidated revenue growth for Q2 FY26, forecasting a year-on-year (YoY) increase in the "thirties" (i.e., 30-39%). This robust top-line growth is underpinned by strong performance across key business segments. Primary Growth Catalysts: International Business: The company's international operations have maintained robust momentum, delivering resilient performance with constant currency growth expected to be in the "twenties" (20-29%). Domestic (India) Business: Growth in the domestic market is supported by the sustained scale-up of its foods and premium personal care portfolios. Additionally, the company has benefited from GST rate rationalization, which has positively impacted approximately 30% of its India business. Profitability and Demand Outlook: In terms of profitability, Marico anticipates a "modest growth" in its operating profit on a YoY basis. From a market perspective, management has observed stable demand trends throughout the quarter. They remain optimistic about a gradual improvement in consumer sentiment, particularly with the onset of the upcoming festive season, which is expected to provide a further boost to demand. This outlook indicates strong execution and momentum, positioning Marico to capitalize on both domestic market improvements and continued international expansion.