Q2 2026 Marico Ltd Earnings Call Transcript
Key Points
- Marico Ltd (BOM:531642) reported a 7% volume growth despite disruptions due to GST rate changes.
- The company has successfully passed on the benefits of reduced GST rates to consumers, enhancing product affordability.
- Value-added hair oils segment gained 150 basis points in value market share, with mid- and premium segments recording double-digit volume growth.
- The foods portfolio crossed INR 1,100 crore ARR, with Saffola Oats gaining market share and new products like muesli showing positive signs.
- International business maintained robust performance, with Bangladesh and Vietnam showing strong growth and recovery signs, respectively.
- The implementation of revised GST rates caused transitionary disruptions in trade channels, impacting sales.
- Parachute brand experienced muted volume growth due to hyperinflation in copra prices and significant pricing growth.
- The company faced challenges in the foods segment, with a temporary slowdown attributed to strategic adjustments and focus on profitability.
- Soya chunks growth was limited due to a focus on profitability over aggressive expansion.
- The company anticipates a gradual recovery in copra prices, which may affect short-term profitability.
Ladies and gentlemen, good day, and welcome to Marico Limited Q2 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)
Before we get started, I would like to remind you that the Q&A session is 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 questions, please directly reach out to Marico's Investor Relations team.
I now hand the conference over to Mr. Saugata Gupta. Thank you, and over to you, sir.
Yes. Hi, and good evening to all those who have joined the call. I would like to start with a narrative on the operating environment during the quarter gone by, after which I'll touch upon our performance and strategic objectives going forward.
We witnessed steady demand trends during
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