Marico Limited — Q2FY27 earnings call summary

Filed 06 November 2026 · Official transcript

Annual outlook upgraded: teens revenue growth, mid-20s EBITDA growth, India volume growth double digits
EBITDA growth expected mid-teens in FY28; margin expansion of 120-150 bps in FY27
Project SETU improved direct reach 1.5x, rural stockists nearly doubled; SETU 2.0 to focus on AI and premium GTM
Premium personal care shampoo expected to cross INR100 Cr ARR this year, medium-term target INR400-500 Cr
INR20,000 Cr revenue target advanced to FY29, organic growth focus with potential inorganic upside
India business volume growth 10%, international business 13% constant currency growth
Consolidated revenue grew 13% in Q2FY27; EBITDA up 27%, PAT up 31%
Gross margin expanded ~600 bps y-y; EBITDA margin up 200 bps to 18.2%