Q1 2026 Marico Ltd Earnings Call Transcript
Key Points
- Marico Ltd (BOM:531642) reported strong volume growth in India, nearing double digits, driven by improved traction in core categories and sustained momentum in new business.
- The company achieved multi-year highs in revenue growth in its India business, supported by pricing actions in response to inflation in key commodities.
- Parachute brand demonstrated resilience amidst hyperinflationary conditions, maintaining minimal volume impact and consolidating market share.
- International business recorded high constant currency growth, with Bangladesh delivering robust performance and Egypt showing healthy traction in new franchises.
- Marico Ltd (BOM:531642) is optimistic about a gradual recovery in consumption sentiment, supported by easing inflation, favorable monsoon, and increased government spending.
- The company faced unprecedented levels of input cost pressure, particularly due to hyperinflation in copra prices.
- There is concern about the sustainability of current market conditions, with expectations that the copra market should settle down over the fiscal year.
- The pricing-led top-line growth may suppress optical margins this year, posing a challenge for delivering double-digit profit growth.
- South Africa's performance was flat this quarter, and Vietnam had a muted quarter, indicating challenges in some international markets.
- The company has cut advertising and promotion expenses in India, particularly in the bottom of the pyramid segments, due to competitive intensity.
This is Jaman, you have been connected to Marico Limited's Q1 FY '26 earnings conference call. The call will begin shortly. Please stay connected. Please note that you have been connected to Maric Limited's Q1 FY '26 earnings conference call. The call will begin shortly. Please stay connected.
Ladies and gentlemen, good day, and welcome to Marico Limited Q1 FY '26 earnings conference call. We have with us the senior management of Marico represented by Mr. Saugata Gupta, MD and CEO; and Mr. Pawan Agrawal, Group CFO and CEO, International business. (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 who would like to ask questions, 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.
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