Marico Ltd on Thursday said consolidated revenue rose in the low twenties year-on-year in Q4 FY26, underpinned by strong volume growth and sustained momentum in its international business, and added it was confident of delivering healthy volume-led revenue growth in FY27.
“This performance was underpinned by top-quartile volume growth, a robust recovery in VAHO (value-added hair oils) and strong momentum in the international business,” the company said in its quarterly update.
Among its key raw materials, copra prices corrected 35 per cent from its peak while vegetable oils and crude-sensitive materials saw an upward bias and the company said it would take selective pricing actions to offset the impact, while maintaining brand investments. “We expect double-digit operating profit growth in this quarter, with a sequential improvement in growth.”
The India business posted high single-digit underlying volume growth, with a sequential improvement during the quarter, even as overall consumption trends remained gradual.
Growth driver
A key growth driver was the VAHO segment, which recorded growth in the twenties, marking a strong recovery and contributing significantly to overall performance.
“Foods delivered high teens value growth, marking a progressive move towards an accelerated growth trajectory.”
Industry observers said Marico’s growth reflects a broadening of its portfolio beyond core oils, with newer categories such as VAHO and foods emerging as key engines.
Analysts added that the company’s focus on mid and premium segments, product innovation, and direct distribution expansion through Project SETU is supporting sustained growth in these segments.
The international business maintained high-teen constant currency growth, although the Gulf region was impacted by geopolitical headwinds towards the end of the quarter.