Marico raised its fiscal 2027 EBITDA growth target to the mid-20s after a wider September-quarter margin, lifting its earnings outlook alongside gains in operating profit and sales.
For the quarter ended Sept. 30, 2026, Marico reported consolidated revenue from operations of ₹3,897 crore, compared with ₹3,482 crore in the year-earlier quarter. The company’s published prior-year figure implies revenue growth of about 11.9%.
EBITDA, or earnings before interest, taxes, depreciation and amortization, rose to ₹709 crore from ₹560 crore. The margin expanded to 18.2% from 16.1%, an increase of about 200 basis points. That margin measures EBITDA as a share of revenue, so the increase means a larger portion of sales was recorded as EBITDA.
Marico expects FY27 revenue growth in the teens and revenue above ₹15,000 crore (₹150 billion), alongside EBITDA growth in the mid-20s. After reporting first-quarter results in August, it had projected high-teen EBITDA growth and double-digit revenue growth beyond the ₹15,000 crore mark. The results review was listed in an earlier EconoTimes schedule of Indian board meetings.
Before the results, Marico’s update said copra prices were about 35% below their peak and that lower copra costs and product mix were expected to support gross-margin improvement. It also flagged higher costs for crude-linked derivatives and increased brand-building investment.
Marico’s growth plan includes expanding its Foods and Premium Personal Care businesses, including digital-first brands. The company targeted those portfolios to account for about 27% of India revenue by the end of FY27 and 33% by FY30.
Moneycontrol reported that Marico’s India business recorded 10% underlying volume growth in the quarter, while its international business grew 13% on a constant-currency basis. For the second half of FY27, the company expects double-digit volume growth in India and faster international constant-currency growth.
