The company noted stable demand trends, with rural markets showing signs of recovery and urban sentiment holding steady. India volume growth improved sequentially to a multi-quarter high, supported by core categories and expanding new business lines.
Parachute coconut oil saw a marginal volume decline due to input cost inflation and pricing changes. However, the number of units sold increased after adjusting for pack size revisions, with limited impact from price hikes.
Saffola oils delivered high-twenties revenue growth, backed by mid-single-digit volume growth. The company also passed on the benefits of reduced vegetable oil import duties to consumers.
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Value-added hair oils grew in low double digits, with stronger traction in the mid and premium segments. Marico expects sustained recovery in this category, supported by increased brand-building investments and wider distribution through Project SETU.Foods and premium personal care, including digital-first brands, continued to scale up profitably.The international business grew in the high teens (in constant currency), with broad-based performance across key markets. Bangladesh remained resilient with high-teen growth.
On the raw material front, copra prices rose sequentially due to unseasonal rains, while vegetable oil prices eased post the import duty cut. Crude derivatives remained range-bound.
Marico expects some gross margin pressure in H1FY26 due to a high base and pricing-led comparisons but anticipates improvement in the second half. Operating profit is likely to see modest YoY growth.
The company reiterated its medium-term focus on volume-led, profitable growth, supported by stronger brand equity and continued diversification.
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