Profit before tax (PBT) declined 9.45% YoY to Rs 567 crore, while EBITDA increased 11% YoY to Rs 592 crore, compared with Rs 533 crore in Q3 FY25. However, EBITDA margin contracted by 234 basis points to 16.7%, from 19.1% a year ago.

The India business revenues stood at Rs 2,681 crores, up 28% YoY, on the back of a sequential improvement in underlying volume growth supplemented by pricing interventions across core portfolios over the last 12 months, in response to inflation in key input costs. . E-commerce and quick commerce continued to lead growth, while traditional trade showed improved traction. More than 95% of the portfolio gained or maintained market share, and around 80% gained or sustained penetration on a MAT basis.

Parachute Rigids demonstrated resilience during the quarter. While reported volumes declined 1%, underlying volumes'adjusted for ml-age reductions grew 2%. The brand recorded 50% revenue growth, underscoring strong pricing inelasticity and consumer loyalty.

Value-Added Hair Oils delivered a stellar quarter, recording 29% value growth. The portfolio gained 170 bps in value market share on a MAT basis to reach an all-time high of ~30%. The company remains confident of sustaining this double-digit growth trajectory in the near and medium term.

Saffola Edible Oils had a soft quarter, amidst a relatively elevated pricing environment. Revenue growth was flattish, while prior pricing actions anniversarized in this quarter. The company said brand will continue to pivot towards premium offerings within the portfolio, including the recently introduced Cold Pressed Oils.

Foods grew 5% YoY, in line with the company's ongoing strategic focus on calibrating franchise profitability in view of the growing scale of the business. Saffola Oats continued to gain market share on a MAT basis, retaining its position as the No. 1 oats brand. The company expects the portfolio to revert to an accelerated growth trajectory in the coming quarters.

Premium Personal Care, including the digital-first portfolio, sustained strong momentum. The Premium Personal Care portfolio is expected to exit FY26 at Rs 350+ crore ARR, while the digital-first portfolio is projected to cross Rs 1,000 crore ARR.

The international business recorded 21% constant currency growth, with broad-based double-digit growth across markets. Bangladesh posted 29% CCG, Vietnam rebounded with 22% CCG, MENA delivered 17% CCG, and South Africa reported 16% CCG. NCD and Exports grew 27%.

On the outlook front, the company said the sector has witnessed steady demand trends throughout the year so far. It remains optimistic about a gradual uptick in consumption across categories in the coming quarters, supported by favourable macroeconomic indicators and the potential for further stimulus in the upcoming Union Budget.

Amidst this backdrop, the company expects a steady growth trajectory in its core categories, despite near-term input cost headwinds. Growth will be supported by ongoing initiatives to strengthen select General Trade (GT) channel partners and the continued expansion of its direct reach footprint under Project SETU. The company also cited healthy offtake trends, penetration gains and market share expansion across key portfolios.

Marico said it will continue to aggressively diversify its portfolio in line with its medium-term strategic priorities. It aims to grow the Foods portfolio at a CAGR of over 25%, reaching nearly eight times FY20 revenues by FY27. The digital-first portfolio is expected to scale to around 2.5x of FY24 ARR by FY27, up from the earlier target of 2x.

The India revenue share of the Foods and Premium Personal Care portfolios stood at around 22% in 9MFY26, and the company expects this to increase to approximately 25% by FY27. Among digital-first brands, Beardo is expected to post double-digit EBITDA margins in FY26, while Plix is likely to deliver single-digit EBITDA margins, with the overall portfolio targeted to achieve double-digit EBITDA margins by FY27.

The international business has shown broad-based strength, and the company aims to maintain double-digit constant currency growth over the medium term.

Marico added that it remains on track to deliver over 25% consolidated revenue growth in FY26. While pricing-led growth is expected to moderate gradually, the company expects strong volume momentum in the India business to continue. With input costs easing and margin pressures beginning to subside, it anticipates a progressive improvement in operating profit growth in the coming quarters.

Saugata Gupta, MD & CEO, commented, 'Our performance in the quarter and year so far reflects the strength of our operating model and the effectiveness of agile execution in driving consistent outcomes. The India business has delivered strong volume and revenue growth, supported by improving trends in core categories and the profitable scaling up of foods and digital-first businesses in line with our strategic priorities. The international business remains a consistent growth engine, delivering broad-based performance across markets. Looking ahead, we expect to sustain the healthy volume growth momentum, with profitability strengthening progressively as input cost pressures moderate.'

Marico is one of India's leading consumer products companies in the global beauty and wellness space. It sells products under brands such as Parachute, Saffola, Hair & Care, Parachute Advansed, Nihar Naturals, Mediker, Pure Sense, Coco Soul, Revive, Set Wet, Livon, Beardo, Just Herbs etc.

Shares of Marico rose 0.85% to close at Rs 747.20 on the BSE.

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