Marico Q2 FY27 Results: Consolidated Net Profit ₹558 Crore on Total Income of ₹3,950 Crore
- Earnings
- consumer products
Reviewed byRachit TripathiBlacklitt Research
Marico (NSE: MARICO) reported consolidated total income of ₹3,950 crore and net profit of ₹558 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹3,052 crore and net profit of ₹683 crore, it said in a filing on 2 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹3,950 crore, up 12.9% YoY and down 1.4% QoQ
- Net profit and EPS: ₹558 crore, up 29.2% YoY; basic EPS ₹4.24 against ₹3.24
- Finance costs: ₹24 crore, up 100.0% YoY from ₹12 crore
Standalone
The company on its own, without its subsidiaries
- Total income: ₹3,052 crore, up 13.8% YoY and 7.2% QoQ
- Net profit and EPS: ₹683 crore, up 71.6% YoY; basic EPS ₹5.27 against ₹3.08
- Other income: ₹330 crore, against ₹171 crore a year earlier and ₹53 crore in Q1 FY27
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 3,950 | 3,499 | +12.9% | 4,005 | -1.4% | |
| Revenue from operations | 3,897 | 3,450 | +13.0% | 3,957 | -1.5% |
| Other income | 53 | 49 | +8.2% | 48 | +10.4% |
| 558 | 432 | +29.2% | 652 | -14.4% | |
| Profit before tax | 674 | 550 | +22.5% | 790 | -14.7% |
| Finance costs | 24 | 12 | +100.0% | 21 | +14.3% |
| Depreciation | 64 | 47 | +36.2% | 56 | +14.3% |
| Tax expense | 116 | 118 | -1.7% | 138 | -15.9% |
| Net profit margin | 14.13% | 12.35% | +1.78 pp | 16.28% | -2.15 pp |
| EPS, basic (₹) | 4.24 | 3.24 | +30.9% | 4.86 | -12.8% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Profit grew faster than income, but fell from the previous quarter. Net profit of ₹558 crore was up 29.2% on a year earlier while total income rose 12.9%, and profit before tax rose 22.5%. Against the previous quarter, net profit fell 14.4% while total income eased 1.4%.
Tax expense was ₹116 crore against ₹118 crore a year earlier, and the net profit margin rose to 14.13% from 12.35%. Finance costs doubled to ₹24 crore from ₹12 crore, and depreciation rose 36.2% to ₹64 crore.
The notes flag items that affect comparison. The Skinetiq transaction is included from 2 Apr 2026, and the company says the results are not comparable with other periods in the statement. The Just Herbs and Beardo business transfers have no impact on the consolidated results, according to the notes. Advertisement and promotion expenses netted off revenue were restated for a change in accounting policy, which the company says does not change profit before tax, profit after tax or EPS for comparative periods.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 3,052 | 2,681 | +13.8% | 2,847 | +7.2% | |
| Revenue from operations | 2,722 | 2,510 | +8.4% | 2,794 | -2.6% |
| Other income | 330 | 171 | +93.0% | 53 | +522.6% |
| 683 | 398 | +71.6% | 460 | +48.5% | |
| Profit before tax | 762 | 483 | +57.8% | 549 | +38.8% |
| Finance costs | 13 | 6 | +116.7% | 10 | +30.0% |
| Depreciation | 45 | 34 | +32.4% | 37 | +21.6% |
| Tax expense | 79 | 85 | -7.1% | 89 | -11.2% |
| Net profit margin | 22.38% | 14.85% | +7.53 pp | 16.16% | +6.22 pp |
| EPS, basic (₹) | 5.27 | 3.08 | +71.1% | 3.55 | +48.5% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone profit rose faster than consolidated profit. Net profit of ₹683 crore was up 71.6% year on year, and other income of ₹330 crore was 10.8% of total income, against ₹171 crore a year earlier and ₹53 crore in the previous quarter.
Revenue from operations grew 8.4% to ₹2,722 crore, slower than other income. Profit before tax of ₹762 crore was up 57.8%. The half-year standalone cash flow shows dividend income from subsidiaries of ₹272 crore, against ₹546 crore a year earlier.
Consolidated net profit of ₹558 crore is ₹125 crore below standalone net profit of ₹683 crore, a gap the two statements show side by side.
Inference
The filing sets out two acquisitions in progress. The company gained control of Skinetiq, an entity incorporated in Vietnam, by acquiring 75% of its shares with effect from 2 Apr 2026, and the group has an obligation to acquire the non-controlling stake contingent on business milestones. On 5 Oct 2026 the company agreed to acquire 38.18% of Satiya Nutraceuticals Private Limited (Plix) in tranches; 24.09% is already acquired, and the remaining 14.09% is to be completed in July 2027, subject to the agreement's terms. The stake would then stand at 84.09% on a fully diluted basis.
The board also appointed Rajan Bharti Mittal, an independent director, as Lead Independent Director with effect from 2 Nov 2026. Dividends paid to the company's shareholders were ₹519 crore in the half year, against ₹908 crore a year earlier. The auditors' review conclusions are unmodified; for the consolidated results, 5 subsidiaries were reviewed by other auditors and 14 were not reviewed, which management says are not material to the group.
Not stated in the filing: the consideration for the Skinetiq and Plix stakes, the cash outflow for Skinetiq in the quarter, and whether a dividend has been declared for the quarter. These are the gaps a reader would most want filled.
Filed with BSE on . Reference: Original filing (PDF)
Disclaimer:
The information available on this article is provided for education and informational purposes only. It does not constitute or provide financial, investment or trading advice and should not be construed as an endorsement of any specific stock or financial strategy in any form or manner. We do not make any representations or warranties regarding the quality, reliability, or accuracy of the information provided. This website may contain links to third-party content. We are not responsible for the content or accuracy of these external sources and do not endorse or verify the information provided by third parties. We are not liable for any decisions made or actions taken based on the information provided on this website.
