Q3 2025 Marico Ltd Earnings Call Transcript
Key Points
- Marico Ltd (BOM:531642) reported a robust high-teens revenue growth in its India business, with over 90% of the business gaining or sustaining market share.
- The company's food business scaled up to around INR1,000 crore ARR in Q3, achieving a significant milestone set in 2020.
- The international business sustained its double-digit constant currency growth momentum, with strong performances in Bangladesh, MENA, and South Africa.
- Marico Ltd (BOM:531642) is on track to achieve double-digit consolidated revenue growth for the full year, despite a challenging inflationary environment.
- The company has successfully diversified its portfolio, with the composite revenue share of Food, Premium Personal Care, and Digital First brands in the domestic business standing at 21% for nine months FY25.
- Urban demand remained stable yet soft, with middle and bottom of pyramid segments subdued by inflation and slow wage growth.
- The GT channel has been sluggish due to evolving inter-channel dynamics and shifts in consumer behavior.
- The company faced a 2% impact on consolidated EBITDA due to currency headwinds in key international markets.
- There is significant competition in the True Elements segment, with both legacy and startup companies posing challenges.
- The company is experiencing transient pressure on profitability due to higher-than-expected inflation, particularly in copra prices.
Ladies and gentlemen, good day, and welcome to the Marico Limited Q3 FY25 earnings call. We have with us the senior management of Marico represented by Mr. Saugata Gupta, MD and CEO; and Mr. Pawan Agrawal, CFO.
(Operator Instructions) Please note that this conference is being recorded.
Before we get started, I would like to remind you that the Q&A session is only for institutional investors and analysts. And therefore, if there is anybody else who is not an institutional investor or analyst, but would like to ask question, please directly reach out to Marico's Investor Relations team.
I now hand the conference over to Mr. Saugata Gupta for his opening comments. Thank you, and over to you, sir.
Yeah. Hi, everyone, and all those who have joined the call and my best wishes to all of you for a very happy and prosperous 2025. I would like to begin by sharing a perspective on the operating environment during the quarter, followed by our
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