Marico Q3 FY26: Strong Revenue Growth and High Single-Digit Volume Rise in India

Marico, one of India’s leading consumer goods companies, reported strong business performance in the third quarter of FY26. The company’s consolidated revenue grew in the high twenties year-on-year, driven by both domestic and international markets. This shows that Marico continues to perform well despite challenges in the economy and fluctuating input costs.

In India, the company saw underlying volume growth in the high single digits. This indicates that consumer demand remains healthy. Marico’s flagship brand, Parachute, showed a small dip in volume, but after adjusting for packaging size changes rather than price increases, the volumes turned positive. The Value-Added Hair Oils (VAHO) segment performed exceptionally well, with growth in the twenties, thanks to strengthened mid- and premium products, expanded reach through Project SETU, and GST rate rationalization. Saffola Oils had a quieter quarter due to pricing anniversarisation, while the Foods segment remained stable but is expected to pick up in the coming months.

Marico’s international business also continued to show strong growth. On a constant-currency basis, revenue from overseas markets rose in the early twenties, led by robust performances in countries like Bangladesh, Vietnam, and South Africa. This demonstrates that Marico’s global strategy and brand presence are yielding positive results.

The company also highlighted improvements in input costs, which had been a concern in previous quarters. Copra prices, an important raw material for Marico, fell about 30% from earlier highs, and vegetable oil prices remained stable. These factors are expected to help the company improve its gross margins and overall profitability in future quarters.

Marico expects its operating profit for Q3 FY26 to grow in double digits, signaling better cost absorption and improved margins. The management remains optimistic about gradually recovering consumption trends, supported by strategic initiatives like Project SETU and focus on premium product segments.

Overall, Marico’s Q3 performance reflects a resilient business model. The company has maintained strong revenue growth, expanded its retail and distribution footprint, and delivered solid results in key product categories. Marico’s ability to manage costs, maintain brand strength, and grow both in India and overseas positions it well for continued growth in the coming quarters.

Investors and market watchers are keeping a close eye on Marico’s full Q3 results, which will provide a clearer picture of profit margins, expenses, and net earnings. Meanwhile, the strong top-line growth, improved input costs, and robust international performance offer confidence in the company’s long-term strategy.

In summary, Marico’s Q3 FY26 results show high-twenties revenue growth, high single-digit volume growth in India, solid international expansion, and margin improvement prospects. The company’s strategic initiatives, brand portfolio focus, and resilient operations have contributed to maintaining strong momentum in a competitive market.