Marico

** Consumer goods company Marico Ltd's MRCO.NS India business is expected to touch double-digits y/y in Q2 FY27, beating street expectations

** Nomura which had expected India volume growth of 8.5% said co's India volumes will be driven by better-than-expected growth in Parachute Coconut Oil

** Brokerage has a "buy" rating on the stock; TP of 1,000 rupees

** CLSA ("underperform", TP of 780.10 rupees) had expected an underlying volume growth of 9% for Marico's India business

** However, co sees overall operating profit to grow in mid-twenties in Q2 vs CLSA's outlook of growth of 30.6%

** Analysts at Macquarie view co's handling of copra cost moderation during the quarter positively

** 31 out of 38 analysts rate the stock "buy" or higher, median TP of 965 rupees

** Shares of co down 0.5% at 786.05 rupees; YTD, shares up 5.4%

(Reporting by Saikeerthi in Bengaluru)

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Oct 5 (Reuters) - Indian consumer goods maker Marico MRCO.NS said on Monday it expects second-quarter consolidated revenue to grow by double-digits percentage points, aided by strong domestic demand for premium products.

(Reporting by Aishwarya Jain and Saikeerthi in Bengaluru; Editing by Subhranshu Sahu)

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** Indian consumer goods maker Marico MRCO.NS reported quarterly profit above market expectations, helped by steady demand and lower prices of a key raw material

** Shares down 2% at 858.90 rupees

STRONG VOLUMES FUEL OPTIMISM

** UBS ("neutral", PT: 930 rupees) says MRCO posted a strong first-quarter beat, led by India volume growth, robust performance in Parachute, VAHO and Foods, and margin expansion

** Macquarie ("outperform", PT: 965 rupees) says industry-leading volume growth and better margins drove the earnings beat and expects FY27 EBITDA growth to approach 20%, supported by core brands and premium portfolios

** HSBC ("buy", PT: 1,020 rupees from 1,010 rupees) says easing copra costs, strong execution and portfolio diversification support a re-rating

** BOB Capital Markets ("hold", PT: 965 rupees) says strong execution, lower copra costs and premiumisation support FY27 guidance with brokerage expects double-digit revenue growth and high-teen EBITDA growth

(Reporting by Kashish Tandon in Bengaluru)

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Aug 4 (Reuters) - Marico Ltd MRCO.NS:

• MARICO EXEC: INPUT COSTS TO BE RELATIVELY HIGHER IN Q2

• MARICO EXEC: TO TRY TO HOLD GROSS MARGIN AROUND YEAR-AGO LEVEL IN NEAR TERM

• MARICO EXEC: DO NOT EXPECT FURTHER PARACHUTE COCONUT OIL PRICE CHANGES IN NEAR TERM

• MARICO EXEC: SEEING SLIGHT SLOWDOWN IN MODERN TRADE

Source text: [ID:]

Further company coverage: MRCO.NS

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** Consumer goods maker Marico MRCO.NS says it expects consolidated first-quarter revenue to grow in the low-twenties percentage range, helped by robust performance across its core, digital and international businesses

** Shares of Marico down 1.8% at 840.3 rupees

TOPLINE GROWTH EXPECTED, VALUATION WORRIES PERSIST

** CLSA maintains "Underperform" rating, saying the stock is pricing much higher in EBITDA growth of 20% for a decade than what Marico is likely to deliver, but raises TP to 556 rupees from 519 rupees

** Antique Stock Broking ("Buy"; PT: 985 rupees) says co's hair oil portfolio remains key positive and should support profitability

** Expects gross margins to improve sequentially on easing coconut prices; sees EBITDA at CAGR of 24%

** Macquarie ("Outperform"; PT: 890 rupees) expects sequential uptick in India volume growth to 10%, driving 15% EBITDA growth

** Investec ("Buy"; PT: 909 rupees) expects MRCO to sustain strong volume-led growth in FY27; co among brokerage's top picks in large-cap FMCG firms

(Reporting by Mridula Kumar in Bengaluru)

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July 2 (Reuters) - Marico Ltd MRCO.NS:

• MARICO - CONSOLIDATED REVENUE IS EXPECTED TO GROW IN EARLY TWENTIES IN Q1

• MARICO - PARACHUTE COCONUT OIL DELIVERED DOUBLE-DIGIT VOLUME GROWTH IN Q1

• MARICO - STRONG OPERATING PROFIT GROWTH EXPECTED IN Q1 FY27

• MARICO- GROSS MARGIN IS EXPECTED TO IMPROVE SEQUENTIALLY

• MARICO- CLOSELY MONITORING EVOLVING INFLATIONARY CONDITIONS AND IMPACT OF EL NIÑO ON MONSOON

Source text: ID:nnAZN4T5NIJ

Further company coverage: MRCO.NS

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May 26 (Reuters) - Marico Ltd MRCO.NS:

• MARICO - MARICO ENTERS HAIR CLEANSING SEGMENT

• MARICO - MARICO ENTERS HAIR CLEANSING SEGMENT

Source text: ID:nBSEjCBhV

Further company coverage: MRCO.NS

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** Marico MRCO.NS shares jump about 3% to 832.20 rupees

** FMCG major posted 14% y/y rise in Q4 profit, forecast FY27 consolidated revenue above estimates

FY27 GUIDANCE, MARGIN RECOVERY DRIVE OPTIMISM

** BofA ("buy"; TP: 875 rupees) says easing copra prices, steady volume growth should help sustain outperformance

** Goldman Sachs ("buy"; TP: 900 rupees) says co has strong visibility on FY27 growth, aided by momentum in foods, premium personal care segments

** Nomura ("buy"; TP: 950 rupees) says co's upgraded FY27 guidance is rare in current environment

** Jefferies ("buy"; TP: 960 rupees) says co well-placed among staples peers due to strong India volume growth, premiumisation trends

** Investec ("buy"; TP: 909 rupees) says Marico among its top staples picks

** CLSA ("underperform"; TP: 519 rupees) says demand in key categories could moderate as price-led growth normalises

(Reporting by Surbhi Misra in Bengaluru)

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May 5 (Reuters) - Indian consumer goods major Marico MRCO.NS reported a bigger-than-expected quarterly profit on Tuesday, helped by strong growth in its core Parachute oil business and continued momentum in value-added hair oils.

The consumer goods firm posted an 14% rise in profit to 3.91 billion rupees ($41 million) for the fourth-quarter ended March 31.

Analysts, on average, had expected 3.85 billion rupees, per data compiled by LSEG.

($1 = 95.3650 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru and Praveen Paramasivam in Chennai; Editing by Janane Venkatraman)

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April 2 (Reuters) - Indian consumer firm Marico MRCO.NS expects its fourth-quarter consolidated revenue to grow in the low twenties percentage on a year-on-year basis, the company said on Thursday in a quarterly update.

(Reporting by Komal Salecha in Bengaluru)

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April 1 (Reuters) - Marico Ltd MRCO.NS:

• MARICO - ZED BOARD AND SHAREHOLDERS APPROVE VOLUNTARY LIQUIDATION ON APRIL 1, 2026

Source text: ID:nBSE9WXMpV

Further company coverage: MRCO.NS

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** India's Marico MRCO.NS is set to outperform consumer staples peers on revenue and volume growth, supported by a resilient core portfolio, says BofA Securities

** Earnings growth for MRCO is set to improve as prices of key input copra moderate while crude oil impact is relatively low compared to peers - BofA

** BofA retains "buy" with price target of 860 rupees; MRCO stock up 2.6% to 744 rupees

** BofA estimates 8%/15% revenue/earnings per share CAGR growth over fiscal years 2026-2028, citing recovery in value added hair oils segment, foods, premium personal care businesses

** The average rating of 38 analysts tracking MRCO is "buy"; median price target is 860 rupees, data compiled by LSEG shows

** MRCO shares are down 3.4% in 2026 so far, outperforming the 16% drop in Nifty FMCG index .NIFTYFMCG, exchange data shows

(Reporting by Bharath Rajeswaran in Bengaluru)

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Feb 9 (Reuters) - Marico Ltd MRCO.NS:

• MARICO - ENTERS AGREEMENTS FOR STRATEGIC INVESTMENT IN SKINETIQ

• MARICO - UNIT TO BUY 75% OF SKINETIQ SHARES

• MARICO - DEAL FOR 2.62 BILLION RUPEES

Source text: ID:nBSE55bW4B

Further company coverage: MRCO.NS

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Feb 4 (Reuters) - Indian consumer firm Marico MRCO.NS on Wednesday said it will buy a 60% stake in homegrown protein brand Cosmix in a 2.26 billion rupee ($24.99 million) deal.

($1 = 90.4490 Indian rupees)

(Reporting by Komal Salecha in Bengaluru; Editing by Sonia Cheema)

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Jan 27 (Reuters) - Indian consumer goods maker Marico MRCO.NS reported a bigger-than-expected quarterly profit on Tuesday as consumption tax cuts helped boost demand.

The company, known for brands like Saffola cooking oil and Set Wet hair gel, posted a profit of 4.47 billion rupees ($48.74 million) for the quarter ended December 31, up from 3.99 billion rupees a year ago.

Analysts, on average, had expected a profit of 4.44 billion rupees, per data compiled by LSEG.

Domestic consumer goods firms, including Dabur DABU.NS, Godrej Consumer GOCP.NS and Marico, said that demand has rebounded since the tax cuts went into effect at the end of September, following several quarters of muted urban demand.

Sales were disrupted by the tax cuts in the second quarter as consumers deferred purchases until lower prices kicked in.

Earlier this month, Marico said its premium personal care segment, which includes its Parachute brand of body lotion and Livon hair care range, outperformed its expectations.

It added that gross margins are likely to improve in the coming quarters on easing prices of copra, a key raw material for its coconut oil brand Parchute - one of its biggest revenue generators.

Overall revenue jumped nearly 27% to 35.37 billion rupees in the third quarter, aided by an 8% jump in volumes in India, its key market.

"We are optimistic of a gradual uptick in consumption trends across categories in the quarters ahead, supported by favorable macroeconomic indicators and the prospects of further stimulus in the upcoming union budget," the company said.

Meanwhile, rival AWL Agri Business AWLA.NS, previously known as Adani Wilmar, reported higher sales for the third quarter in a business update earlier this month.

($1 = 91.7162 Indian rupees)

(Reporting by Komal Salecha in Bengaluru; Editing by Sonia Cheema)

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Adds context, share move and details

BENGALURU, Jan 2 (Reuters) - India's Marico MRCO.NS expects third-quarter consolidated revenue to rise in the high twenties percent from a year earlier, as easing inflation and tax cuts have boosted sales, the company said on Friday.

The Saffola oils and Parachute haircare maker has remained resilient despite slowing urban demand as recent tax changes have enabled it to cut prices.

Marico said while its cooking oil business had a muted quarter, its core hair oils segment grew from a year ago. Saffola cooking oils and Parachute coconut hair oils together account for about half of Marico's India revenue.

The company said its premium personal care segment outperformed expectations and added that gross margins are likely to improve further as prices of copra, a key raw material used for coconut oil, eased.

Underlying volume growth in its India business remained in the high single digits, marking a slight improvement from a quarter ago, the company said.

Marico had logged a 15% rise in consolidated revenue to 27.94 billion rupees ($309.8 million) in the third quarter last year.

Its shares settled 0.36% lower on Friday but have risen nearly 6% since the tax changes came into effect on September 22.

($1 = 90.1900 Indian rupees)

(Reporting by Komal Salecha in Bengaluru; Editing by Mrigank Dhaniwala)

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Oct 31 (Reuters) - India's Patanjali Foods PAFO.NS posted a 67.4% increase in quarterly profit on Friday, on strong demand for its edible oils.

The Sunrich edible oil maker's profit after tax rose to 5.17 billion rupees ($58.82 million) for the quarter ended September 30 from 3.09 billion rupees a year earlier.

Patanjali Foods benefited from a cut in import duty on crude edible oils to 10% from 20%.

The move, aimed at easing inflation and boosting domestic refining, reduced the cost of local processing and supported edible oil makers' margins.

Revenue from Patanjali's edible oils business, which makes up nearly 70% of the total, rose 17.2% during the quarter to 69.72 billion rupees.

The firm also reduced prices on select edible oils, including its ghee, to pass on benefits from a recent cut in goods and services tax to customers.

Larger rivals AWL Agri Business AWLA.NS and Saffola owner Marico MRCO.NS are yet to report results.

Overall revenue increased by 21% to 97.99 billion rupees.

Shares of Patanjali ended 1.2% lower ahead of the results on Friday.

($1 = 87.8950 Indian rupees)

(Reporting by Yagnoseni Das and Meenakshi Maidas in Bengaluru; Editing by Ronojoy Mazumdar)

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Oct 13 (Reuters) - Marico Ltd MRCO.NS:

• MBL INDUSTRIES VOLUNTARILY LIQUIDATED EFFECTIVE SEPTEMBER 18, 2025

Source text: ID:nBSE8f1K0s

Further company coverage: MRCO.NS

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Adds details, background from paragraph 3

Oct 3 (Reuters) - Indian consumer firm Marico MRCO.NS sees consolidated quarterly revenue growing about 30% year-on-year and expects "modest" operating profit growth, it said on Friday, driven by price hikes and higher sales of its premium hair oils.

The company, known for its Saffola brand of cooking oils, said underlying volume growth for its domestic business in the second quarter was in the high-single-digit percentage range.

Saffola cooking oils and the Parachute brand of coconut hair oils make up about half of Marico's revenue in India.

Packaged cooking oils, a staple in households, have largely weathered a slowdown in urban demand that has dented the sales of other consumer conglomerates over the last few quarters.

Marico said its sales in the segment grew in the high-teens percentage range, despite volume growth being flat.

Its core hair oils segment saw volumes decline, hurt by a 60% price hike that was necessitated by surging input costs. Premium hair oils, on the other hand, saw growth in the high-teens percentage.

The company said India's sweeping tax cuts have helped about 30% of its domestic business. This and festive season sales are seen improving consumer sentiment, it said.

Marico sees pressure on its gross margin, a core metric of profitability, easing in October-March.

(Reporting by Ananta Agarwal and Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala)

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Oct 1 (Reuters) - Marico Ltd MRCO.NS:

• LIQUIDATOR DISTRIBUTES APCOS BUSINESS TO MARICO

• APCOS BUSINESS CONSOLIDATED WITH MARICO EFFECTIVE OCT 1, 2025

Source text: ID:nNSEDSJgQ

Further company coverage: MRCO.NS

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** Shares of Marico MRCO.NS fall 1.3% to 714.75 rupees

** India's Income Tax department is conducting surveys across Marico's offices and facilities pan India, CNBC TV-18 reports

** The department's Mumbai investigation unit is directing the exercise; details of the investigation are awaited - report

** Marico and IT department did not immediately respond to Reuters' request for comment

** Forty analysts covering MRCO have a "buy" rating on avg; median PT is 805 rupees - data compiled by LSEG

** Stock up ~12% YTD

(Reporting by Urvi Dugar)

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Sept 11 (Reuters) - Marico Ltd MRCO.NS:

• MARICO LTD - TO BUY REMAINING 46.02% STAKE IN HW WELLNESS

• MARICO LTD - ACQUISITION VALUED AT UP TO 1.38 BILLION RUPEES

Source text: ID:nBSEc5ngqX

Further company coverage: MRCO.NS

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Adds details throughout

Aug 4 (Reuters) - Indian consumer goods maker Marico MRCO.NS reported a first-quarter profit on Monday that topped analyst expectations, benefiting from steady demand for its cooking and hair oils.

Its consolidated net profit rose nearly 9% to 5.04 billion rupees ($57.51 million) in the April-June quarter, beating analysts' expectations of 4.86 billion rupees, according to data compiled by LSEG.

Domestic volumes rose 9%, led primarily by its Saffola brand cooking oils and hair oils.

Packaged cooking oil, a staple in Indian households, has been largely resistant to a slowdown in sales that has dented the margins of other consumer conglomerates which have a broad portfolio of personal care and household items.

Marico has also passed on the benefits of the recent import duty reduction on edible crude oils used to refine its 'Saffola' cooking oils, to its customers.

Saffola oil volumes rose in mid-single digits in the first quarter, while revenue in the segment rose 28%, Marico said.

Volumes of Marico's 'Parachute' brand of coconut oil rose about 1% and revenue grew 31%, as price hikes undertaken to mitigate commodity cost inflation padded the topline but crimped demand.

Together, they make up about half of Marico's revenue in India.

Marico also joined companies such as Dabur DABU.NS and Hindustan Unilever HLL.NS in highlighting improving demand conditions in urban areas, after several quarters of a spending slowdown amid the high cost of living.

Its overall revenue rose 23.3% in the first quarter, to 32.59 billion rupees, coming in above analysts' average estimate of 32.1 billion rupees.

Shares of Marico were up 1.87%.

Peer AWL Agri Business AWLA.ns, previously known as Adani Wilmar, reported a nearly 25% fall in first quarter profit in July, as higher prices of branded palm oil led consumers to opt for cheaper alternatives.

($1 = 87.6440 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru; Editing by Sonia Cheema)

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Adds CEO comment in paragraph 10, background in paragraph 9

July 15 (Reuters) - India's AWL Agri Business AWLA.NS, previously known as Adani Wilmar, reported a nearly 25% fall in quarterly profit on Tuesday, as higher prices of branded palm oil led consumers to opt for cheaper alternatives.

Indian consumers operating on tight budgets due to slow wage growth have been increasingly shunning large brands in response to price increases.

AWL, which makes the Fortune brand of cooking oil, reported a consolidated net profit of 2.36 billion rupees ($27.51 million) for the first quarter ended June 30.

Sales volumes in its mainstay edible oil business, which accounted for four-fifths of its topline, dropped 4% on slow palm oil sales, even as higher prices helped push revenue higher.

Volumes in the segment "remained under pressure, largely due to sluggish palm oil sales driven by its relatively higher prices," AWL said, adding it lost market share during the quarter.

Overall revenue rose 21% to 170.59 billion rupees.

AWL's food business, which sells staples such as rice and pulses, posted a 5% fall in volumes, excluding a one-off impact, as wheat flour sales struggled due to soft demand, stiff local competition and higher prices.

Shares fell 2.2% post-results.

In the coming quarters, AWL expects sales volumes to rebound, with palm oil prices stabilising and inflation slowing to a more than six-year low last month.

"As the inflation comes down ... food is the first product on which consumers are a little more likely to spend liberally," CEO Angshu Mallick told Reuters, adding consumers would now buy more branded foods, including tea and bread.

Rival Marico MRCO.NS, which sells the Saffola brand of cooking oil, is yet to report results. It said in an update earlier this month that quarterly revenue would grow in the low-20s percentage range on improving rural demand.

($1 = 85.7870 Indian rupees)

(Reporting by Praveen Paramasivam; Editing by Janane Venkatraman)

(([email protected]; +91 867-525-3569;))

July 11 (Reuters) - Marico Ltd MRCO.NS:

• MARICO -REMAIN FOCUSED ON SCALING TOWARDS 200 BILLION RUPEES IN REVENUE BY2030 -ANNUAL REPORT

• MARICO - ASPIRE TO DELIVER DOUBLE-DIGIT EBITDA MARGIN ACROSS DIGITAL-FIRST PORTFOLIO BY FY27

• MARICO - EXPECT DIGITAL-FIRST PORTFOLIO TO REACH 2.5X OF THE FY24 EXIT RUN-RATE BY FY27

Source text: [ID:]

Further company coverage: MRCO.NS

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** Marico MRCO.NS gains 4% to 742 rupees

** "Saffola" oil maker's quarterly revenue rises in low-twenties percentage range in April-June quarter, led by sustained demand from rural consumers

** Nuvama says co's quarterly update in line with their expectations

** Adds co showed "strong performance across segments"

** Raises its Q1 revenue growth estimate for co to 22.4% y/y from 21.5%

** Q1 revenue of peer AWL Agri Business AWLA.NS, formerly called Adani Wilmar, rises 23% y/y on higher edible oil prices

** YTD, MRCO gains 16% vs AWLA's ~17% decline

(Reporting by Kashish Tandon in Bengaluru)

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July 3 (Reuters) - Marico Ltd MRCO.NS:

• EXPECT GRADUAL IMPROVEMENT IN THE QUARTERS AHEAD, DUE TO EASING INFLATION, FAVOURABLE MONSOON SEASON

• LTD - EXPECTS GROSS MARGIN PRESSURE DUE TO INPUT COST INFLATION

• LTD - INDIA BUSINESS VOLUME GROWTH REACHES MULTI-QUARTER HIGH

• LTD - CONSOLIDATED REVENUE GROWTH IN LOW TWENTIES YEAR-ON-YEAR IN Q1

• EXPECT GROSS MARGIN PRESSURES TO EASE FROM THE SECOND HALF OF THIS FISCAL YEAR

• DURING QUARTER, SECTOR EXHIBITED CONSISTENT DEMAND PATTERNS, MARKED BY IMPROVING TRENDS IN RURAL MARKETS AND STEADY URBAN SENTIMENT

• EXPECT MODEST OPERATING PROFIT GROWTH ON A YEAR-ON-YEAR BASIS

Source text: ID:nBSE2YSND7

Further company coverage: MRCO.NS

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May 8 (Reuters) - India's consumer goods sector reported an 11% growth in value in the March quarter, as rural growth outpaced that in urban areas for the fifth straight quarter, market research firm NielsenIQ said on Thursday.

Rural areas - which account for just over a third of overall consumer goods sales - have become a bright spot for an industry that is struggling with higher living costs and slow wage growth in large cities.

"Rural markets continue to drive growth, whereas urban metros continue to see a shift toward E-commerce," Roosevelt Dsouza, head of customer success for consumer goods at NielsenIQ, said.

Although rural consumption growth slowed in the March quarter, with volumes rising 8.4% compared to 9.2% in the previous three months, it still outpaced urban demand, where growth decelerated to 2.6% from 4.2%.

Price increases also contributed to the overall value growth, with the cost of staples such as edible oil rising 5.6% during the quarter, compared with just 0.3% in the same period a year ago.

Low base, rural growth, and easing inflation are helping smaller players, which saw 17.8% growth in value, outpacing the broader FMCG market, the report said.

Indian consumer goods maker Marico MRCO.NS reported fourth-quarter profit above analysts' expectations, boosted by improving rural demand and price increases for its key packaged oil brands—underscoring the strength of non-urban markets.

The company also said it plans to expand its presence in villages across India.

Smaller manufacturers are driving consumption compared to larger players, whose volume growth has halved compared to the December quarter, NielsenIQ said.

Hindustan Unilever HLL.NS and Nestle India NEST.NS reported weaker fourth-quarter profits, with Hindustan Unilever cutting its margin forecast amid high commodity costs and sluggish urban demand.

Going ahead, NielsenIQ said revised tax slabs and a favorable monsoon forecast could further lift consumption in the coming quarters.

(Reporting by Ashish Chandra in Bengaluru; Editing by Sonia Cheema)

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May 2 (Reuters) - Marico Ltd MRCO.NS:

• DIVIDEND OF 7 RUPEES PER SHARE

• Q4 CONSOL NET PROFIT 3.43 BILLION RUPEES; IBES PROFIT EST. 3.34 BILLION RUPEES

• Q4 CONSOL REVENUE FROM OPERATIONS 27.30 BILLION RUPEES; IBES EST. 26.61 BILLION RUPEES

Source text: [ID:]

Further company coverage: MRCO.NS

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April 3 (Reuters) - Marico Ltd MRCO.NS:

• MARICO LTD - EXPECTS MARGINAL OPERATING PROFIT GROWTH YOY IN Q4 FY25

• MARICO - CONSOLIDATED REVENUE GROWTH MOVED TO HIGH-TEENS ON A YEAR-ON-YEAR BASIS IN QUARTER

• MARICO LTD - CONSOLIDATED BUSINESS SEES LOW DOUBLE-DIGIT REVENUE GROWTH FY25

• MARICO LTD - INDIA BUSINESS SEES SEQUENTIAL UPTICK IN VOLUME GROWTH IN Q4

• MARICO - EXPECT TO MAINTAIN DOUBLE-DIGIT REVENUE GROWTH MOMENTUM IN FY26

• MARICO LTD - SECTOR EXPERIENCED STABLE DEMAND TRENDS IN Q4 FY25

Source text: ID:nBSE3Lpvps

Further company coverage: MRCO.NS

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