Arthneeti

Marico Q2 FY27 Share Price & Earnings Call Analysis

Part of: Nifty Midcap 150 · Nifty FMCG · Nifty Midcap Select · Nifty Midcap 50 · NIFTY Midcap 100 · Nifty 200 · +4 more

₹900.00-0.22% today
Market cap
₹1.17L Cr
P/E
58.03
ROE
42.91%
PEG
5.23
Price to sales
7.97
Debt to equity
0.26
52W high / low
₹925 / ₹711
Sales growth (5Y)
11.08%
EBITDA margin
17.98%
Net profit margin
13.28%
Promoter holding
58.84%
Sales (last year)
₹14,692 Cr

Marico Limited is one of India's leading consumer goods companies, operating across beauty, personal care, wellness and foods in India and select international markets. Portfolio includes Parachute, Saffola, Hair & Care, Nihar, Livon, Set Wet, Beardo, Just Herbs, True Elements, Plix, Cosmix and 4700BC; products reach 1 out of 3 Indians.[1]

Guidance scorecard · Q2 FY27 call

What Marico's management guided
and where it ranks in Agricultural Food & other Products

#15of 21 in
Agricultural Food & other Products
Revenue10–20%MarginsUp 0–2%CapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ2 FY27 call

10–20%
  • Marico aims to achieve INR 20,000 crores revenue target by FY29, one year ahead of the earlier FY30 target.
  • Revenue growth guidance for the current year (FY27) is in the teens, with potential to push towards mid-teens.
  • For FY28 and FY29, the company expects mid-teens CAGR revenue growth (~13-14% CAGR by FY29).
  • India business is expected to deliver high single-digit to double-digit volume growth.
  • International business growth is expected to marginally improve, driven notably by Bangladesh and Southeast Asia.
  • Digital-first brands target sustainable growth around 20-25%, achieved profitably.
  • Volume growth for India business is forecasted to reach double digits for the full year.

2 more points from Marico's call on revenue

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Full Q2 FY27 analysis

MarginsQ2 FY27 call

Up 0–2%

See what Marico said on margins — free account, 30 seconds.

Full Q2 FY27 analysis

CapexQ2 FY27 call

Planned
  • Marico is actively investing in digital brands and capabilities, as indicated by their M&A team looking for digital opportunities and strategic partnerships with digital brands.
  • Significant investments are being made in GT (general trade) expansion and execution, especially through Project SETU 2.0, focusing on quality of execution, range selling, and automation via IT capabilities and gamification.
  • The company is consolidating manufacturing and media buying to realize synergies and cost efficiencies.
  • There is ongoing investment behind new product development (NPDs), premium personal care (serums, shampoos), and food segments.
  • They are leveraging supply chain and product development capabilities internally to accelerate growth of recent acquisitions like Cosmix and 4700 BC and to improve profitability.

2 more points from Marico's call on capex

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Full Q2 FY27 analysis

FundraisingQ2 FY27 call

See what Marico said on fundraising — free account, 30 seconds.

Full Q2 FY27 analysis

Order bookQ2 FY27 call

Ask what Marico said on the order book →

Full Q2 FY27 analysis
Full Agricultural Food & other Products ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Agricultural Food & other Products
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Marico rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Marico latest results (Sep 2026)

Revenue

₹3,897 Cr

+13% YoY

Net profit

₹558 Cr

+29% YoY

Operating margin

18%

EPS

₹4.23

What management said on the call →

Marico shareholding (Sep 2026)

Promoters

58.84%

−0.08 pp QoQ

FIIs

22.25%

−1.15 pp QoQ

DIIs

14.11%

+1.24 pp QoQ

Public

4.51%

+0.02 pp QoQ

Full shareholding pattern →Dividend history →

Peers

Agricultural Food & other Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹2,344 Cr29.8
240%+Up 0–2%₹916 Cr14.1
340%+Up 0–2%₹131 Cr6.6
440%+Flat₹25 Cr13.1
520–40%Up 2%+₹13,919 Cr33.2
620–40%Up 2%+₹227 Cr14.2

Sign up free to see every company in the sector ranking and track Marico.

Pro shows every company guiding 40%+ revenue growth →Full Agricultural Food & other Products ranking

Marico announcements

All announcements →

Financials of Marico

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Marico

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +59.38%59.34%59.28%59.20%59.11%59.05%59.03%58.94%58.93%58.93%58.92%58.84%
FIIs +25.69%25.55%24.61%24.87%23.35%22.09%23.62%24.21%24.02%24.08%23.40%22.25%
DIIs +9.63%9.78%11.10%11.12%12.76%14.12%12.61%11.88%12.23%12.17%12.87%14.11%
Government +0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.11%0.11%0.13%0.15%0.00%
Public +5.12%5.13%4.80%4.61%4.61%4.53%4.51%4.58%4.49%4.49%4.49%4.51%
Others +0.08%0.11%0.11%0.11%0.08%0.12%0.12%0.26%0.22%0.19%0.17%0.29%
No. of Shareholders3,16,5793,18,5562,99,1543,02,1833,00,8052,86,7702,88,2182,89,1522,82,2092,87,7642,93,5602,98,597

Financials of Marico

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +2,4762,4222,2782,6432,6642,7942,7303,2213,4503,5373,3013,9573,897
YoY Sales growth-1%-2%+2%+7%+8%+15%+20%+22%+30%+27%+21%+23%+13%
Expenses +1,9791,9091,8362,0172,1422,2612,2722,5662,8902,9452,7803,1383,188
Operating Profit497513442626522533458655560592521819709
OPM %20%21%19%24%20%19%17%20%16%17%16%21%18%
Other Income +38431537824247564939604853
Interest20191717111312101214172124
Depreciation39424141414452454750605664
Profit before tax476495399605552518441656550567504790674
Tax %24%22%20%22%22%22%22%22%21%19%19%17%17%
Net Profit +360386320474433406345513432460408652558
EPS in Rs2.732.962.463.583.273.082.653.893.243.443.014.854.23

Financials of Marico

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +5,7336,0175,9186,3227,3347,3158,0489,5129,7649,65310,83113,61114,692
Sales growth+22%+5%-2%+7%+16%-0%+10%+18%+3%-1%+12%+26%+20%
Expenses +4,8634,9664,7595,1856,0095,8466,4597,8317,9547,6278,69211,28312,051
Operating Profit8701,0511,1591,1371,3251,4691,5891,6811,8102,0262,1392,3282,641
OPM %15%17%20%18%18%20%20%18%19%21%20%17%18%
Other Income +599396851039510798144142208204200
Interest23211716405034395673535376
Depreciation84959089131140139139155158178202230
Profit before tax8221,0291,1491,1171,2571,3741,5231,6011,7431,9372,1162,2772,535
Tax %29%30%29%26%10%24%21%22%24%22%22%20%
Net Profit +5857238118271,1311,0431,1991,2551,3221,5021,6581,8132,078
EPS in Rs4.455.516.196.318.637.919.089.4810.0711.4412.5713.5715.53
Dividend Payout %28%77%57%67%55%85%83%97%45%83%83%30%

Financials of Marico

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital64129129129129129129129129129129130130
Reserves1,7601,8882,1972,4142,8462,8943,1113,2193,6703,7033,8464,0804,605
Borrowings +4283312393123523385114796085285545571,238
Other Liabilities +8731,0101,0591,2171,5691,6031,6751,8502,3932,9933,7465,1836,405
Total Liabilities3,1253,3583,6234,0724,8964,9645,4265,6776,8007,3538,2759,95012,378
Fixed Assets +1,0761,0501,0851,1101,3001,3961,6121,7602,2462,7242,7583,6333,960
CWIP33711274558243967444085144
Investments2845446085434507338548281,0966021,5902,0832,634
Other Assets +1,7631,7271,9192,3923,1012,7772,9363,0503,3913,9833,8874,1495,640
Total Assets3,1253,3583,6234,0724,8964,9645,4265,6776,8007,3538,2759,95012,378

Financials of Marico

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +6658186495161,0621,2142,0071,0161,4191,3871,3632,084
Cash from Investing Activity +-186-203-12559-367-22-933441-928176-621-722
Cash from Financing Activity +-625-601-574-567-698-1,147-1,058-1,290-560-1,542-649-1,279
Net Cash Flow-14714-518-34516167-69219383
Free Cash Flow6077315673889191,0341,8708841,2371,2341,2411,772
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit101%101%82%71%104%102%144%81%99%87%86%114%

Financials of Marico

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days111515202627182538404335
Inventory Days139110193190147157108106941169385
Days Payable798010710398108109101112137103108
Cash Conversion Cycle71461011067476173020193312
Working Capital Days18023372724-11521416-18
ROCE %38%44%45%42%42%43%43%43%42%43%45%47%

Guidance history

How Marico's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q2 FY27 call →10–20%Up 0–2%Planned——
Q1 FY27 call →10–20%Up 0–2%Planned——
Q3 FY26 call →10–20%Up 2%+Planned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

66out of 100

Momentum score · price trend

66 out of 100 — Steady

Over the past year its share price has moved roughly in the middle of the stocks we track.

PeriodShare price changeBetter than … of 1,937 stocks
Last 12 months+24.7%73%
Last 6 months+7.0%57%
Last 3 months+4.0%69%
How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,937 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Marico: 0.4 × 73 + 0.4 × 57 + 0.2 × 69 = 66.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 13 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Marico: frequently asked questions

What is Marico share price today?

Marico last traded at ₹900, with a market capitalisation of ₹1.2L Cr and a P/E ratio of 58.0.

What were Marico's latest quarterly results?

For the quarter ended Sep 2026, Marico reported revenue of ₹3,897 Cr (+13% year on year) and net profit of ₹558 Cr, with an operating margin of 18%.

Is Marico's profit growing?

Net profit was ₹558 Cr in Sep 2026 against ₹432 Cr in Sep 2025, a change of +29%.

What is Marico's EPS?

Marico's earnings per share for the quarter ended Sep 2026 was ₹4.23.

What is the promoter holding in Marico?

Promoters held 58.84% of Marico in Sep 2026 (−0.08 pp versus Jun 2026).

How much do FIIs and DIIs hold in Marico?

In Sep 2026, foreign institutional investors held 22.25% and domestic institutions (including mutual funds) held 14.11% of Marico.

What is Marico's ROE and ROCE?

Marico's return on equity is 42.9% and its return on capital employed is 47%.

Does Marico pay a dividend?

Yes. Marico's dividend yield is 0.45% at the current price. The full payout history is on the Marico dividends page.

Which sector does Marico belong to?

Marico is in the Agricultural Food & other Products sector. Its peer comparison and sector ranking are on this page.

What did Marico's management say on the latest earnings call?

Arthneeti's analysis of the Q2 FY27 earnings call covers revenue, margins, capex and fundraising guidance from Marico's management.

How does Arthneeti AI analyse Marico?

Arthneeti reads Marico's earnings call transcripts and filings and scores revenue growth, margins, capex and fundraising, then ranks the company against its sector.

Continue your research

What Marico's management said in earlier quarters

Earlier calls (7)

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