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StocksMediumUpdated×2•Originally published 3 November 2026•Updated 3 November 2026•
4 min read

Marico Raises EBITDA Growth Outlook to Mid-Twenties After Profit Rises 29.16%

Key Facts

1Marico raised its fiscal 2027 EBITDA growth outlook to the mid-twenties from the high teens.
2Consolidated net profit was 558 crore rupees, up 29.16% from the corresponding period.
3Revenue from operations grew 12.95% to 3,897 crore rupees in the second quarter.
4EBITDA rose about 27% to 710 crore rupees, and its margin widened 200 basis points to 18.2%.
5Parachute Rigids sales volumes grew 13%, the highest level in 22 quarters.

Marico raised its fiscal 2027 EBITDA growth guidance to the mid-twenties from the high teens previously, after consolidated net profit rose 29.16% year on year in the second quarter. Net profit was 558 crore rupees in the quarter ended September, compared with 432 crore rupees in the corresponding period of the previous fiscal year, according to Business Standard. Revenue from operations rose 12.95% to 3,897 crore rupees, from 3,450 crore rupees a year earlier. EBITDA also grew about 27% to 710 crore rupees, while its margin widened 200 basis points to 18.2%. The guidance revision came as the company kept its fiscal-year revenue growth outlook in the teens, according to the company.

Business indicators showed a divergence between the Indian and international markets: Marico’s India business recorded underlying sales volume growth of 10% in the second quarter, while international business grew 13% in constant currency, according to Business Standard. The figures show volume growth alongside the 12.95% increase in overall revenue. In India, Parachute Rigids recorded sales volume growth of 13%, its highest level in 22 quarters, according to The Economic Times, citing Reuters. Its volume market share rose to 60%, after an increase of more than 570 basis points. The company attributed the higher EBITDA outlook to a favorable product mix, strong Parachute volumes and improved profitability in its foods and digital brands businesses, according to Business Standard.

On margins, EBITDA margin rose to 18.2%, up 200 basis points year on year, as the metric grew 27% to 710 crore rupees, according to Business Standard. The company said lower copra prices, alongside an improved product mix, helped expand gross margin by about 600 basis points in the second quarter compared with a year earlier, according to The Economic Times, citing Reuters. Marico said copra prices had fallen 35% from their peak by 2 November 2026. The company, meanwhile, increased advertising and promotion spending 44% during the quarter, saying this was part of continued investment in brands and growth initiatives. Higher spending coincided with improved profitability, while the company said costs linked to crude oil and inflation in edible oils could pose pressures.

Profit growth extended into the first half of fiscal 2027, with revenue up 18%, EBITDA up 26% and profit after tax up 28%, according to Investing.com’s account of the earnings call. EBITDA and profit after tax growth outpaced revenue growth over the six months, as they did in the second quarter, when EBITDA rose 27% and consolidated net profit increased 29.16%, compared with revenue growth of 12.95%. The half-year results provide the backdrop to management’s revision of its fiscal-year EBITDA growth outlook from the high teens to the mid-twenties. The company kept its revenue growth outlook in the teens, distinguishing between its operating profit and revenue forecasts. These figures do not say that group net profit growth reached 31%; the reported second-quarter figure is a 29.16% increase to 558 crore rupees.

Marico forecast revenue growth in the teens in fiscal 2027 and revenue of more than 15,000 crore rupees, along with EBITDA growth in the mid-twenties, according to The Economic Times, citing Reuters. The company said the higher operating profitability outlook was based on a favorable product mix, improved Parachute volumes and stronger profitability in its foods and digital brands businesses. On costs, it pointed to a 35% decline in copra prices from their peak, while warning of cost risks linked to crude oil and inflation in edible oils. Advertising and promotion spending also rose 44% during the quarter as the company continued to invest in brands and growth initiatives. The outlook combines revenue growth in the teens with a higher EBITDA growth target, while input cost pressures remain among the risks cited by the company.

Shares reacted to the results and revised guidance, with Marico stock jumping 6% in morning trading on 3 November 2026, according to Business Standard. The source did not report a final closing price for the session. In a separate review of the company’s guidance, Jefferies raised its target price on the stock to 1,035 rupees from 1,000 rupees, while maintaining its “buy” rating, according to Business Standard. The broker’s revision followed the results announcement, while the higher EBITDA growth outlook came from Marico’s management. The reported share move is limited to morning trading that day and does not represent the closing price.