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Marico Targets ₹4,000 Cr Digital Brand Revenue by FY30 via Strategic Acquisitions
Marico is undergoing a structural transformation into a digital-first powerhouse, targeting a total digital brand top line of ₹4,000 crore by FY30. The company expects its food business to reach 15x of FY20 levels and its digital-first personal care portfolio to grow 5x from FY24 levels by the end of the decade. Recent acquisitions like 4700BC (₹140 Cr ARR) and Cosmix (₹100 Cr ARR) are being integrated using a repeatable playbook that has already seen Beardo scale 5x and Plix scale 6x. Management aims for the new business segment to contribute 33% of India revenues by FY30 with EBITDA margins in the teens.
Key Highlights
Targeting ₹4,000 crore revenue from global digital brands by FY30.
Foods revenue projected to reach 15x of FY20 levels by FY30, up from 9x expected next year.
4700BC holds a ₹140 crore ARR in the ₹24,000 crore Western snacking market.
Cosmix and Plix are scaling rapidly in functional nutrition, with Plix growing 6x in just two years.
New businesses expected to constitute 33% of India revenue by FY30 with double-digit EBITDA margins.
💼 Action for Investors
Investors should monitor the execution of these long-term targets as Marico successfully diversifies away from its core legacy brands. The proven ability to scale Beardo and Plix profitably provides high confidence in the management's 'repeatable playbook' for future acquisitions.
Marico Discloses Audio Recording of Conference Call on Strategic Investments
Marico Limited has released the audio recording of its conference call conducted on February 13, 2026, regarding its latest strategic investments. This disclosure follows SEBI's Regulation 30 requirements for transparency in investor communications. The call provides qualitative and quantitative context for the company's recent capital deployment. Investors can access the recording on the company's website, with a written transcript expected to follow shortly.
Key Highlights
Audio recording of the Feb 13, 2026 investor call is now available on the company website.
The call specifically addressed the announcement of recent strategic investments by the company.
Compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
A detailed written transcript will be filed with stock exchanges in the coming days.
💼 Action for Investors
Investors should review the recording or upcoming transcript to evaluate the valuation and strategic fit of the new investments. Monitor how these acquisitions or stakes contribute to Marico's non-coconut oil portfolio growth.
Marico Targets 33% Revenue Share from Foods & Digital-First PPC by FY30
Marico is aggressively pivoting towards a digital-first model, targeting a 33% revenue share from its Foods and Personal Care (PPC) segments by FY30, up from 11% in FY20. The company aims for Foods revenue to reach 15x of FY20 levels and Digital-first PPC ARR to scale 5x from FY24 levels. Key brands like 4700BC (₹140 Cr ARR) and Cosmix (₹100 Cr ARR) are positioned for 3-3.5x growth by FY30. Proven success in scaling Beardo and Plix, with EBITDA margin improvements of 1900 bps and 1100 bps respectively, provides high confidence in this diversification strategy.
Key Highlights
Targeting a 33% revenue share for Foods and Digital-first PPC by FY30, a significant jump from 11% in FY20.
4700BC gourmet snacking brand has reached a ₹140 Cr Annual Run Rate (ARR) with a 40% CAGR.
Cosmix functional wellness brand achieved ₹100 Cr ARR with 100%+ CAGR and high-teen sustainable EBITDA margins.
Beardo and Plix acquisitions have scaled 5x-6x since acquisition with massive EBITDA margin expansions of 1100-1900 bps.
Vietnam-based Candid brand reached ~₹100 Cr revenue in CY2025, growing at a 200%+ CAGR.
💼 Action for Investors
Investors should favor Marico's strategic shift toward high-margin, high-growth digital brands which reduces reliance on legacy commodity-linked segments. Monitor the quarterly progress of the Foods and Digital-first PPC segments as they are the primary drivers for valuation re-rating.
Marico to Host Investor Call on Strategic Investments in Zea Maize, Cosmix, and Skinetiq
Marico Limited has scheduled an investor conference call for February 13, 2026, to discuss its recent strategic investments in Zea Maize Pvt. Ltd., Cosmix Wellness Pvt. Ltd., and Vietnam-based Skinetiq Joint Stock Company. The management, including the MD & CEO and Group CFO, will provide strategic perspectives on these acquisitions which align with Marico's focus on the beauty and wellness categories. These developments follow a fiscal year (FY24-25) where Marico recorded a turnover of ₹108.3 billion ($1.3 billion). Investors will be looking for clarity on the integration of these brands and their expected contribution to the international business, which currently accounts for 25% of revenue.
Key Highlights
Conference call scheduled for Feb 13, 2026, to discuss three recent strategic investments in India and Vietnam.
Target companies include Zea Maize (4700BC), Cosmix Wellness, and Skinetiq Joint Stock Company.
Marico reported a total turnover of ₹108.3 billion (USD 1.3 billion) during the FY24-25 period.
International consumer products portfolio currently contributes approximately 25% to the Group's total revenue.
Management to provide specific outlook on how these brands fit into the existing portfolio of 16+ major brands.
💼 Action for Investors
Investors should attend or review the call transcripts to understand the acquisition valuations and the projected break-even timelines for these new wellness and international assets. Focus on management's commentary regarding the scalability of the Cosmix and Skinetiq brands within Marico's distribution network.
Marico to Acquire 75% Stake in Vietnam's Skinetiq for INR 261.6 Crore
Marico's subsidiary, MSEA, has entered into an agreement to acquire a 75% stake in Skinetiq, a Vietnamese digital-first skincare company, for approximately INR 261.6 crore. Skinetiq owns the 'Candid' brand and holds exclusive distribution rights for the luxury brand 'Murad' in Vietnam. The target company has shown explosive growth, with CY2025 revenues reaching INR 152 crore compared to INR 61 crore in CY2024, while maintaining a healthy mid-twenties EBITDA margin. This acquisition is a strategic move to premiumize Marico's international portfolio and expand its D2C footprint in Southeast Asia.
Key Highlights
Acquisition of 75% stake for an aggregate consideration of VND 750 Billion (approx. INR 261.6 Cr).
Skinetiq's revenue grew by 149% year-on-year to INR 152 Cr in CY2025 with a mid-twenties EBITDA margin profile.
The deal includes the digital-first skincare brand 'Candid' and exclusive Vietnam distribution for luxury clinical brand 'Murad'.
Marico retains a call option to acquire the remaining 25% stake after the completion of FY28 based on performance milestones.
The transaction is expected to close within 90 days, subject to regulatory approvals from the Vietnam Department of Finance.
💼 Action for Investors
Investors should view this as a high-quality, margin-accretive acquisition that strengthens Marico's presence in the fast-growing Vietnamese beauty market. Monitor the integration process and the potential for Marico to scale these premium brands across other international markets.
Marico Completes Acquisition of 60% Stake in Cosmix Wellness
Marico Limited has successfully completed the acquisition of a 60% stake in Cosmix Wellness Private Limited, the owner of the 'Cosmix' brand. The transaction was finalized on February 5, 2026, following definitive agreements signed just a day prior. As a result of this transaction, Cosmix Wellness has officially become a subsidiary of Marico. This strategic move allows Marico to further penetrate the high-growth digital-first wellness and beauty market.
Key Highlights
Acquisition of 60% of the paid-up share capital of Cosmix Wellness Private Limited
Transaction completed on February 5, 2026, making Cosmix a subsidiary of Marico
Strategic entry into the 'Cosmix' brand ecosystem to bolster wellness portfolio
Compliance with Regulation 30 of SEBI (LODR) Regulations, 2015
💼 Action for Investors
Investors should view this as a positive step towards portfolio diversification into premium wellness segments. Monitor the integration and scaling of the Cosmix brand within Marico's broader distribution network.
Marico to Acquire 60% Stake in Wellness Brand Cosmix for Rs 225.67 Crore
Marico Limited has entered into definitive agreements to acquire a 60% majority stake in Cosmix Wellness, a leading digital-first functional wellness brand, for a cash consideration of Rs 225.67 crores. The acquisition values Cosmix at an equity valuation of approximately Rs 375 crores and includes a provision for Marico to acquire the remaining stake after FY29 based on performance milestones. Cosmix is a high-growth, profitable brand with a current Annual Recurring Revenue (ARR) of ~Rs 100 crores and sustainable high-teen EBITDA margins. This strategic move strengthens Marico's presence in the premium health and nutrition segment.
Key Highlights
Acquisition of 60% stake in Cosmix Wellness for an aggregate consideration of Rs 225.67 crores
Cosmix has shown explosive growth, scaling from a turnover of Rs 5.39 cr in FY23 to an ARR of ~Rs 100 cr in early 2026
The target company is profitable since inception with high-teen EBITDA margins
Marico holds the right to acquire the remaining 40% stake after the completion of FY29
Transaction is expected to close within 30 days, making Cosmix a subsidiary of Marico
💼 Action for Investors
Investors should view this as a positive strategic expansion into the high-margin, high-growth functional wellness category. The acquisition of a profitable, fast-growing digital brand aligns well with Marico's portfolio diversification strategy and long-term premiumization goals.
Marico Completes Acquisition of 93.27% Stake in Zea Maize (4700BC Brand)
Marico Limited has successfully completed the acquisition of a 93.27% stake in Zea Maize Private Limited, the owner of the premium snacking brand '4700BC'. The transaction was finalized on January 29, 2026, following the definitive agreements signed earlier with PVR INOX Limited. Consequently, Zea Maize has now become a subsidiary of Marico. This acquisition is a strategic move to strengthen Marico's presence in the high-growth premium snacking and healthy foods category.
Key Highlights
Acquired 93.27% of the paid-up share capital of Zea Maize Private Limited.
Zea Maize is the owner of the popular premium popcorn brand '4700BC'.
The stake was acquired from PVR INOX Limited.
Transaction officially completed on January 29, 2026, making Zea Maize a subsidiary.
Strengthens Marico's portfolio in the premium healthy snacking segment.
💼 Action for Investors
Investors should view this as a positive strategic expansion into the premium food segment; monitor the brand's integration and its impact on Marico's overall food business growth.
Marico Q3 FY26: Revenue Jumps 27% YoY; Domestic Volumes Grow 8% Amid Margin Pressure
Marico reported a strong 27% YoY revenue growth to ₹3,537 crore in Q3 FY26, driven by 8% domestic volume growth and 21% constant currency growth in international markets. While recurring PAT grew 12% to ₹447 crore, EBITDA margins contracted by 234 bps to 16.7% due to a sharp 84% YoY increase in Copra prices. The Foods segment showed exceptional performance with 50% value growth, and the company is scaling its digital-first brands toward a ₹1,000 crore ARR. Management remains optimistic about rural demand recovery and the impact of GST rationalization on consumption.
Key Highlights
Consolidated Revenue grew 27% YoY to ₹3,537 crore, with India business revenue up 28% YoY.
Domestic volume growth stood at 8%, while International business recorded 21% constant currency growth.
EBITDA margins compressed by 234 bps to 16.7% primarily due to high input costs, with Copra prices up 84% YoY.
Foods business grew 50% YoY, on track to reach 8x of FY20 scale by FY27.
Digital-first brands like Beardo and Plix are expected to exit FY26 with an ARR of over ₹1,000 crore.
💼 Action for Investors
Investors should monitor the company's ability to pass on raw material inflation through pricing while maintaining the current volume growth momentum. The rapid scaling of the Foods and Digital-first portfolios provides a strong long-term diversification and margin-accretion narrative.
Marico Q3 FY26: Revenue Surges 27% to ₹3,537 Cr; Domestic Volume Growth Hits 8%
Marico reported a robust 27% YoY revenue growth in Q3 FY26, reaching ₹3,537 crore, supported by an 8% volume growth in the domestic market. While recurring PAT grew 12% to ₹447 crore, EBITDA margins contracted by 234 bps to 16.7% due to a sharp 84% YoY increase in Copra prices. The company's diversification strategy is yielding results, with the Foods segment growing 50% and international business maintaining strong momentum at 21% constant currency growth. A strategic investment in 4700BC further expands Marico's footprint in the premium gourmet snacking category.
Key Highlights
Consolidated Revenue grew 27% YoY to ₹3,537 Cr with domestic volume growth at 8%.
International business delivered 21% constant currency growth, led by Bangladesh and Vietnam.
Foods portfolio recorded 50% value growth and is on track to reach ~8x of FY20 scale by FY27.
EBITDA margins stood at 16.7%, impacted by significant input cost inflation in Copra (+84% YoY).
Digital-first brands are scaling well, with an expected FY26 exit ARR of over ₹1,000 crore.
💼 Action for Investors
Investors should view the strong volume recovery and diversification into high-growth Foods and Digital-first brands as long-term positives. While raw material inflation is currently pressuring margins, the company's pricing interventions and premiumization strategy are expected to mitigate these impacts over time.
Marico Q3 FY26 Results: Net Profit Rises 13.3% to ₹460 Cr; Revenue Up 26.6% YoY
Marico Limited reported a strong performance for the quarter ended December 31, 2025, with revenue from operations growing 26.6% YoY to ₹3,537 crore. Consolidated net profit increased by 13.3% to ₹460 crore, supported by robust top-line growth despite rising raw material costs. For the nine-month period of FY26, the company's revenue crossed the ₹10,000 crore milestone, reaching ₹10,278 crore. The company continues to invest in brand building, with advertisement expenses rising to ₹336 crore for the quarter.
Key Highlights
Revenue from operations surged 26.6% YoY to ₹3,537 crore in Q3 FY26.
Consolidated Net Profit grew 13.3% YoY to ₹460 crore from ₹406 crore.
Basic Earnings Per Share (EPS) increased to ₹3.45 from ₹3.08 in the year-ago period.
Nine-month revenue for FY26 reached ₹10,278 crore compared to ₹8,101 crore in FY25.
Cost of materials consumed rose to ₹1,525 crore, reflecting inflationary pressures in the supply chain.
💼 Action for Investors
The strong revenue growth indicates robust demand and market share gains; investors should maintain a positive outlook on the stock as a core FMCG holding. Monitor the impact of raw material price trends on operating margins in the coming quarters.
Marico to Acquire 93.27% Stake in Gourmet Snacking Brand 4700BC for Rs 226.83 Cr
Marico Limited has entered into definitive agreements to acquire a 93.27% stake in Zea Maize Private Limited, the owner of the premium gourmet snacking brand '4700BC', from PVR INOX. The acquisition is valued at approximately Rs 226.83 Crores and is expected to be completed within 30 days. This strategic move aims to expand Marico's presence in the high-growth, value-added foods and premium snacking segment. Zea Maize has shown strong growth, with its turnover increasing from Rs 48.47 Crores in FY23 to Rs 98.66 Crores in FY25, reaching a recent ARR of ~Rs 140 Crores.
Key Highlights
Acquisition of 93.27% stake in Zea Maize (4700BC) for an aggregate cash consideration of Rs 226.83 Crores.
Target company revenue grew at a robust pace from Rs 48.47 Cr in FY23 to Rs 98.66 Cr in FY25.
Current Annualized Revenue Run-rate (ARR) reached ~Rs 140 Crores based on the Oct-Dec 2025 quarter.
Marico holds the right to acquire the remaining stake after 3 years subject to milestone achievements.
The deal allows Marico to leverage its FMCG distribution scale to grow a premium, digital-first snacking brand.
💼 Action for Investors
Investors should view this as a positive step in Marico's diversification strategy into high-margin food categories. Monitor the brand's scaling progress through Marico's distribution network as it contributes to the company's long-term 'Foods' growth targets.
Marico Q3 FY26 Update: Revenue Grows in High Twenties; India Volumes Up High Single Digits
Marico reported a strong Q3 FY26 update with consolidated revenue growth in the high twenties and India volume growth in high single digits. The international business performed exceptionally well with early twenties constant currency growth, led by Bangladesh and a recovery in Vietnam and South Africa. Gross margins are expected to improve sequentially as copra prices have corrected 30% from recent highs, offsetting elevated vegetable oil costs. The company anticipates double-digit operating profit growth for the quarter, supported by sustained brand-building investments.
Key Highlights
Consolidated revenue growth for Q3 FY26 stood in the high twenties year-on-year.
India business volume growth remained in high single digits with Value Added Hair Oils growing in the twenties.
International business saw early twenties constant currency growth, with Bangladesh leading the performance.
Copra prices corrected approximately 30% from highs, expected to drive sequential gross margin expansion.
Operating profit growth is projected to reach double digits on a year-on-year basis.
💼 Action for Investors
Investors should view this update positively as it indicates robust top-line growth and margin recovery despite input cost pressures. The stock may see positive momentum given the strong international performance and the expected bottoming out of margins.
Marico Extends Timeline to Acquire Remaining 40% Stake in PLIX Owner by 12 Months
Marico Limited has announced an amendment to its acquisition agreement for Satiya Nutraceuticals, the owner of the plant-based nutrition brand 'PLIX'. While Marico currently holds a 60% stake, the timeline to acquire the remaining 40% has been extended by 12 months from the original FY27 target. The acquisition of the balance stake will now occur in one or more tranches, subject to mutually agreed milestones and strategic priorities. This extension allows the company more flexibility in integrating the brand and aligning payouts with performance.
Key Highlights
Marico currently holds a 60% stake in Satiya Nutraceuticals (PLIX) on a fully diluted basis.
The deadline to acquire the remaining 40% stake has been extended by 12 months beyond the original FY27 schedule.
The final acquisition will be executed in one or more tranches based on specific performance milestones.
The amendment is a result of mutual understanding between parties to align with current strategic priorities.
💼 Action for Investors
Investors should monitor the performance of Marico's digital-first brands like PLIX, as the extended timeline suggests a more cautious, milestone-based approach to full ownership. No immediate action is required as this is a strategic adjustment to an existing acquisition roadmap.
Marico Achieves Dual A- CDP Scores and Secures Top Rank in NSE ESG Ratings
Marico Limited has reached major sustainability milestones, securing dual A- ratings from CDP for Climate Change and Water Security. The company is now ranked first in the FMCG sector by NSE Sustainability Ratings with a score of 78. Marico also reported a 15-point increase in its S&P CSA score to 79 and maintained its AA rating from MSCI. These ratings reflect the company's progress toward its 2030 goal of 100% recyclable packaging and its current 72% renewable energy usage.
Key Highlights
Achieved dual A- ratings in CDP 2025 for Climate Change and Water Security
Ranked #1 in FMCG sector by NSE Sustainability Ratings with a score of 78
S&P CSA score increased by 15 points to 79; Sustainalytics risk rating at 18.8
Sourced 72% of operational energy from renewables with a net-zero goal for India by 2030
Jalashay program reached a cumulative water conservation potential of 444 Crore Litres
💼 Action for Investors
These ESG achievements enhance Marico's appeal to institutional and ESG-focused investors, suggesting lower long-term regulatory and operational risks. Investors can maintain their positions as these metrics often correlate with better long-term valuation premiums.