Marico delivers a strong Q1 FY26 on volume growth and price hikes

Q1FY26 revenue to rise in low 20s YoY; volume up despite price hikes; copra inflation pressures margins, but recovery expected in H2; strong performance across segments

The pre-quarter update for the first quarter of 2025-26 (Q1FY26) from Marico was promising. The demand environment in Q1 appeared to be improving, with rural demand continuing to grow and urban demand remaining steady.

 

The guidance is for consolidated revenue in Q1 growing in the low-twenties year-on-year (Y-o-Y), which is higher than Street estimates, and likely to be the highest in the sector. The company expects India volumes to improve quarter-on-quarter (Q-o-Q) and reach a multi-quarter high, surpassing the volume growth of 7 per cent in Q4FY25 despite material price hikes.

 

Operating profit is likely to see modest growth in