~25% revenue growth for FY26
Management targets around 25% revenue growth this year, with higher revenue growth expected in H2 due to anniversarying of pricing and volume momentum.
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Marico · forward-looking guidance across the available source record.
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Digital-first portfolio to reach 2.5x FY24 ARR by FY27
Digital-first portfolio (Beardo, PL, Just Herbs, True Elements) exited at ₹850Cr+ ARR and is on track to reach 2.5x of FY24 ARR by FY27, with double-digit EBITDA margins.
Foods business to deliver 25%+ growth
Core Safola franchise growing double digits while True Elements and Plix plant-based nutrition sustain accelerated growth momentum with clear path for each brand.
Double-digit profit CAGR over next two years
Management expects profit acceleration in deflationary periods following inflationary years, targeting double-digit profit CAGR over FY26-27.
Revenue target of ₹15,000 crore+ for FY27
Management expressed confidence in easily crossing ₹15,000 crore consolidated revenue for FY27, supported by strong Q1 performance and robust business fundamentals.
EBITDA growth target of 20% for FY27
Full-year EBITDA growth guidance of 20% aspirational but explicitly stated as base case. Reverse math suggests EBITDA margin expansion of 140-150bps versus FY26.
India volume growth guidance of high single-digits
While Q1 delivered 11% volume growth, management expects mid to high single-digit volume growth for the full year, with another double-digit quarter possible in next three quarters.
International business at mid-teens constant currency growth
International business expected to deliver mid-teens constant currency growth for FY27, with Vietnam and MENA as key growth drivers offsetting Bangladesh weakness.
Digital brands revenue target of ₹4,000 Cr by FY30
All digital-first brands globally to collectively achieve at least ₹4,000 crore top line by FY30.
Digital-first PPC EBITDA margin to reach double-digit by FY27, teens by FY30
The digital-first personal care portfolio is expected to achieve double-digit EBITDA margins by FY27 and teens by FY30.
Food revenue to reach 9x FY20 levels next year
Food portfolio revenue expected to be 9 times FY20 levels in FY27.
4700 BC to become EBITDA positive in 12-18 months
4700 BC is targeting EBITDA breakeven within 12-18 months, then mid-to-high single digit margins.
FY27 consolidated revenue target of ₹15,000 crore
Management expects double-digit revenue growth to reach approximately ₹15,000 crore in FY27, driven by high single-digit volume growth in India and mid-teens constant currency growth in international business.
High-teen EBITDA growth in FY27
Subject to stable macros, Marico aims to deliver high-teen EBITDA growth, implying ~150 bps operating margin expansion, with gross margin expansion of 300-400 bps.
Digital business to exit FY27 at double-digit EBITDA margins
The digital-first portfolio (including Plix, Beardo) is expected to achieve double-digit EBITDA margins by FY27, progressing towards mid-teen margins by FY30.
New businesses share to reach 27% of India business by FY27
The combined revenue share of foods and premium personal care (including digital-first brands) is expected to expand to about 27% in FY27, up from 23% in FY26.