Marico increased its advertising and sales promotion (A&SP) expenditure by 25% year-on-year in the first quarter of FY27 as the FMCG company intensified investments in its brands while delivering its highest quarterly profit growth in seven years.
Advertising and sales promotion expenses rose to ₹327 crore during the quarter ended June 2026 from ₹261 crore a year earlier. As a proportion of revenue, ad spends increased marginally to 8.3% from 8.1%, reflecting the company's continued focus on brand building.
The company reported a 23% year-on-year increase in consolidated revenue from operations to ₹3,957 crore, while EBITDA grew 25% to ₹819 crore. Profit after tax also climbed 25% to ₹630 crore, marking Marico's strongest quarterly profit growth in the last 28 quarters. EBITDA margin expanded 40 basis points to 20.7%.
The performance was underpinned by an 11% underlying volume growth in the India business—the highest in 20 quarters—and 15% constant currency growth across international operations.
India business posts broad-based growth
Marico's India business reported revenue of ₹3,003 crore, up 21% year-on-year, supported by strong demand across traditional trade, organised retail and e-commerce channels. Quick commerce continued to be a key growth driver, recording more than 50% growth during the quarter.
The company said over 96% of its portfolio either gained or maintained market share, while more than 99% sustained or increased household penetration.
Among key categories, Parachute Rigids registered 10% volume growth, with revenue rising 23%. Value-Added Hair Oils grew 22% in value terms and gained 80 basis points in market share.
The Saffola edible oils business reported 7% revenue growth despite a high single-digit decline in volumes as the company rationalised supplies of select variants.
Marico's Foods portfolio grew 43%, taking its annualised revenue run rate beyond ₹1,300 crore, led by products such as Saffola Soya Chunks, oats and muesli. Meanwhile, the Premium Personal Care portfolio reached an annualised revenue run rate of around ₹450 crore, driven by premium hair nourishment, male grooming and skincare products.
International business sustains momentum
The company's international business grew 15% in constant currency terms, with Vietnam leading growth at 27%, followed by the Middle East and North Africa (MENA) region at 24%. South Africa recorded 8% growth, while Bangladesh grew 4% despite inflationary pressures affecting consumer demand. The exports and new country development businesses also posted 16% growth during the quarter.
Outlook
Marico said it remains on track to deliver double-digit revenue growth in FY27, with annual revenue expected to cross ₹15,000 crore. The company expects high single-digit volume growth in India, mid-teen constant currency growth in international markets and high-teen EBITDA growth over the full year.
The FMCG maker plans to continue investing behind its core brands while accelerating growth in Foods, Premium Personal Care and digital-first businesses. It also aims to diversify its international portfolio by reducing its reliance on Bangladesh and expanding in markets such as Vietnam, MENA and South Africa.
Commenting on the results, Saugata Gupta, Managing Director and CEO of Marico, said the company's performance reflected disciplined execution and a balanced growth strategy focused on strengthening core brands while scaling premium, digital and international businesses.
