Marico Q2 FY27 results: what the company reported
Marico Limited filed its unaudited results for the quarter ended 30 September 2026 (July to September 2026, called Q2 FY27) with NSE on 2 November 2026, the day its board approved them, along with an information update and earnings presentation.
Published 6 November 2026 · Potoos Research Services
In short. For July to September 2026, Marico reported consolidated revenue from operations of Rs 3,897 crore, up 13.0% from Rs 3,450 crore a year earlier, and a net profit of Rs 558 crore, up 29.2% from Rs 432 crore. The share of that profit belonging to Marico's own shareholders was Rs 550 crore, against Rs 420 crore.
The numbers
The first two tables are consolidated, in Rs crore, as printed in the company's statement of consolidated results. Consolidated means Marico Limited and its subsidiaries in India and abroad, counted as one group. The change column is worked out by us.
| Item | Jul to Sep 2026 | Jul to Sep 2025 | Change |
|---|---|---|---|
| Revenue from operations | 3,897 | 3,450 | +13.0% |
| Total income (revenue plus other income) | 3,950 | 3,499 | +12.9% |
| Net profit for the period | 558 | 432 | +29.2% |
| Net profit attributable to owners | 550 | 420 | +31.0% |
| Basic EPS (Rs) | 4.24 | 3.24 | +30.9% |
| Item | Apr to Sep 2026 | Apr to Sep 2025 | Change |
|---|---|---|---|
| Revenue from operations | 7,854 | 6,671 | +17.7% |
| Total income | 7,955 | 6,776 | +17.4% |
| Net profit for the period | 1,210 | 945 | +28.0% |
| Net profit attributable to owners | 1,180 | 924 | +27.7% |
| Basic EPS (Rs) | 9.11 | 7.14 | +27.6% |
Marico also filed standalone results, for Marico Limited on its own without its subsidiaries:
| Item | Jul to Sep 2026 | Jul to Sep 2025 | Change |
|---|---|---|---|
| Revenue from operations | 2,722 | 2,510 | +8.4% |
| Total income | 3,052 | 2,681 | +13.8% |
| Net profit for the period | 683 | 398 | +71.6% |
| Basic EPS (Rs) | 5.27 | 3.08 | +71.1% |
The year-ago revenue figures are restated by the company (see the next section). In the standalone statement, other income was Rs 330 crore this quarter against Rs 171 crore a year earlier, which is why standalone profit grew faster than standalone revenue. Part of standalone other income is dividends that Marico Limited received from its own subsidiaries: Rs 272 crore in April to September 2026, against Rs 546 crore a year earlier (standalone cash flow statement). In the consolidated results these dividends drop out, because the money moves inside the same group. The standalone year-ago figures are also restated, because two subsidiaries, Just Herbs and Beardo, were folded into Marico Limited (notes 4 and 5 of the standalone results).
Why last year's revenue now reads Rs 3,450 crore
Marico changed how it records some payments to customers. Certain customer-related advertising and promotion costs used to sit under advertising expenses. From this quarter they are subtracted from revenue instead. The company applied the change to last year's figures too, so the two years compare like with like.
For July to September 2025, revenue from operations was previously reported as Rs 3,482 crore. After the change it reads Rs 3,450 crore, Rs 32 crore lower. For April to September 2025 it moved from Rs 6,741 crore to Rs 6,671 crore. The company's note says the change does not affect profit before tax, profit after tax or EPS.
Other notes in the filing
- Skinetiq, Vietnam: a Marico subsidiary bought 75% of Skinetiq Joint Stock Company and took control with effect from 2 April 2026. Skinetiq owns the skin care brand "Candid". The company says this quarter's and half year's results include Skinetiq from that date and "are not comparable with other periods reported in the Statement."
- Plix: after the quarter ended, on 5 October 2026, Marico signed agreements for a further 38.18% stake in Satiya Nutraceuticals Private Limited (Plix), in tranches. In the results filed on 2 November 2026, Marico reported having acquired 24.09% of that additional stake, taking its holding to 84.09% on a fully diluted basis. The remaining 14.09% is due in July 2027, subject to the agreements' terms.
- Auditor: the statutory auditor, B S R & Co. LLP, carried out a limited review of both the consolidated and standalone results. Its conclusion is not modified, and it did not add an emphasis of matter. For the consolidated results it notes that 5 subsidiaries were reviewed by other auditors and 14 subsidiaries were not reviewed, which management says are not material to the group.
What the company said
These are the company's own words, from the information update it filed with NSE on 2 November 2026.
“The India business delivered 10% underlying volume growth”
Marico information update, 2 November 2026
“International business sustained strong growth momentum and reported 13% constant currency growth (CCG) and 23% revenue growth in INR terms.”
Marico information update, 2 November 2026
“Gross margin expanded ~600 bps YoY, driven by a favourable portfolio mix and softening in copra prices. A&P investments were up 44% YoY”
Marico information update, 2 November 2026
In the quote above, bps means basis points: 600 basis points are 6 percentage points. The update also says profit after tax grew 31%. That figure is the owners' share: Rs 550 crore against Rs 420 crore. Total net profit, including the part that belongs to minority shareholders in subsidiaries, was Rs 558 crore against Rs 432 crore, a rise of 29.2%. A&P means advertising and promotion: Rs 451 crore this quarter against Rs 313 crore a year earlier, in the consolidated statement.
Dates
- Board meeting: 2 November 2026. It started at 11:30 a.m. and approved the results that day. The company's letter says the meeting would continue until its scheduled time of up to 5:00 p.m.
- Filed with NSE: 2 November 2026, with the information update and earnings presentation the same day. A newspaper extract of the results followed on 3 November 2026.
- Dividend: none declared in this filing.
- Also approved at the same meeting: Mr. Rajan Bharti Mittal, an Independent Director, named Lead Independent Director with effect from 2 November 2026.
Consolidated and standalone: consolidated figures include Marico Limited and its subsidiaries in India and abroad as one group. Standalone figures cover Marico Limited alone. This quarter, standalone net profit was Rs 683 crore and consolidated net profit was Rs 558 crore. These are two different bases, so compare like with like.
Owners and non-controlling interests: when Marico owns less than 100% of a subsidiary, part of that subsidiary's profit belongs to its other shareholders. That part is the non-controlling interest (Rs 8 crore this quarter). The rest is the owners' share.
Restated: last year's figures re-worked under the new method, so both years are measured the same way.
Constant currency growth (CCG): growth worked out as if exchange rates had not moved, to show the business change without currency swings.
Rs crore: one crore is one hundred lakh, or ten million. The filing reports in crore, so this page does too.
Source
- Marico, outcome of board meeting with unaudited standalone and consolidated results and auditor's review reports, 2 November 2026. nsearchives.nseindia.com
- Marico, information update and earnings presentation for Q2 FY27, 2 November 2026. nsearchives.nseindia.com
- Marico, newspaper publication of the results, 3 November 2026. nsearchives.nseindia.com
This page was written by Potoos Research Services, a SEBI-registered Research Analyst (INH000027380) in Chennai. Every figure above is copied from the company's filing, and every percentage change is worked out from the filing's own numbers.
This page reports what the company filed. It is not a recommendation to buy, sell or hold.
Common questions
What was Marico's revenue in Q2 FY27?
Consolidated revenue from operations for July to September 2026 was Rs 3,897 crore, against a restated Rs 3,450 crore in July to September 2025, a change of +13.0%.
What was Marico's profit in Q2 FY27?
Consolidated net profit for the quarter was Rs 558 crore, against Rs 432 crore a year earlier, a change of +29.2%. The owners' share was Rs 550 crore, against Rs 420 crore (+31.0%). Standalone net profit was Rs 683 crore.
Why is last year's revenue different from what Marico reported then?
Marico now subtracts certain customer-related advertising and promotion costs from revenue, and restated last year the same way. July to September 2025 revenue moved from Rs 3,482 crore to Rs 3,450 crore. The company says profit and EPS are not affected.
Did Marico declare a dividend with these results?
No dividend was declared in the 2 November 2026 results filing.
Is this page a recommendation?
No. It reports what the company filed. It is not a recommendation to buy, sell or hold.