Slide 1: Exchange cover letter: Information Update for Q4 FY25
May 2, 2025 The Secretary, The Manager, Listing Department, Listing Department, BSE Limited, National Stock Exchange of India Limited, 1st Floor, Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1 Block G, Dalal Street, Bandra Kurla Complex, Bandra (East), Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 5
Slide 2: Q4 FY25 Results
Q4 FY25 Results MAY 2025 Marico Information classification: Official
Slide 3: Safe Harbour Statement
Safe Harbour Statement This Release / Communication, except for the historical information, may contain statements, including the words or phrases such as anticipates, intends, will, would, undertakes, aims, estimates, contemplates, seeks to, objective, goal, projects, and similar expressions or var
Slide 4: Index
Index Macro Overview Performance Outlook Financials Highlights 4 6 15 23 3 Marico Information classification: Official
Slide 5: Demand trends remain steady; gradual improvement expected in FY26
Demand trends remain steady| Expect gradual improvement in overall consumption in FY26 FMCG Sector Vol Growth (2-Yr CAGR): Retail (CPI) and Food Inflation (%) Retail and food inflation moderating: bodes well for overall consumption in FY26 Government schemes, rise in MSPs All-India Urban Rural Jul-2
Slide 6: Index
Index Macro Overview Performance Outlook Financials Highlights 4 6 15 23 5 Marico Information classification: Official
Slide 7: Volume and revenue growth in India at 14-quarter high; robust International quarter
Volume and revenue growth in India business at 14-quarter high | Robust quarter for International business Q4FY25 (YoY) India International Consolidated 7% 16% 20% Volume Growth Constant Currency Growth Revenue Growth 11.2% 35% 4% 8% 16.8% Consolidated Consolidated A&P Consolidated EBITDA Consolidat
Slide 8: India business meets double-digit growth aspiration in FY25
India business meets double-digit growth aspiration in FY25 | International business ends on a stellar note FY25 (YoY) India International Consolidated 5% 14% 12% Volume Growth Constant Currency Growth Revenue Growth 10.4% 18% 6% 8% 19.7% Consolidated Consolidated A&P Consolidated EBITDA Consolidate
Slide 9: Parachute & Saffola: transient sluggishness; VAHO moves into positive territory
Parachute & Saffola: Transient sluggishness amidst inflation | VAHO moves into positive territory Parachute Coconut Oil Saffola Edible Oils Value Added Hair Oils (33% of India Revenues) (19% of India Revenues) (19% of India Revenues) 4Y Vol. CAGR : Mid-single digit in Edible Oils (1%)* a 22% Margina
Slide 10: Foods Q4 value growth
Q4 Value Growth 44% 9 Marico Information classification: Official
Slide 11: Premium Personal Care: Ahead of aspirations
Premium Personal Care: Ahead of aspirations Serums | Male Grooming | Skin Care Digital-First Brands ~ 300 cr. FY25 Net Revenues 750 cr. Q4 Exit ARR 10 Marico Information classification: Official
Slide 12: Project SETU: Drive growth in GT through expansion in Direct Reach
Project SETU: Drive growth in GT through transformative expansion in Direct Reach 3-Year Phased Plan A fit for purpose and FY24 FY27 fit for future GTM Model Market share Gain across categories in rural and 1.5 urban 1 mn mn Direct reach Direct reach To drive profitable growth and competitive advant
Slide 13: Project SETU: Progressing as planned
Project SETU: Progressing as planned Focus on rural reach expansion at a pan-India level Ensuring strong controls through advanced validation technologies, including 11 image deduplication, OTP-based phone number validation and geocoding No. of states Deploying AI-driven smart PDAs minimizing manual
Slide 14: Bangladesh closes strong; MENA & SA sustain scale-up momentum
Bangladesh closes on a strong note | MENA & SA sustain scale-up momentum Bangladesh Vietnam MENA South Africa 11% 12% (1%) 4% 47% 36% 13% 19% Q4 CCG FY25 CCG Q4 CCG FY25 CCG Q4 CCG FY25 CCG Q4 CCG FY25 CCG Robust growth in core and Expect gradual recovery in Double digit growth in Gulf Hair Care lea
Slide 15: Index
Index Macro Overview Performance Outlook Financials Highlights 4 6 15 23 14 Marico Information classification: Official
Slide 16: Diversification on track: Foods scaling in line with aspirations
Diversification on track: Foods scaling in line with aspirations | GM expansion continues Foods portfolio at 5x of FY20 scale Structural GM expansion of ~200 bps in Foods On course to become ~8x of FY20 scale in FY27 Expect gradual improvement ahead Foods Gross Margin (%) ~8x ~5x +200 bps ~4x +800 b
Slide 17: Diversification on track: Digital marches ahead
Diversification on track: Digital marches ahead | Driving Profitable Unit Economics Exit ARR expected to be ~2.5x of FY24 ARR in FY27 On course to deliver double-digit (raised from ~2x previously) EBITDA margin in FY27 Digital- Digital-first EBITDA Margin (%) ~2.5x ~1.7x x FY24 FY25 FY27E Beardo sca
Slide 18: Foods and Premium Personal Care: Scale up on track
Foods and Premium Personal Care: Scale up on Track | Profit Contribution on the rise Share of Foods & PPC1 in India Revenues Higher gross margin Share in India NC expected to be 25%+ in FY27 vis-à-vis core business at ~5x of FY22 levels ~25% ~8x ~22% ~5x ~11% ~300 bps x FY22 FY25 FY27E Incremental g
Slide 19: Revenue share of Premium categories
Revenue share 20% of Premium 29% (FY21) categories (FY25) Hair Cleansing Hair Styling/Care (ex-Hair Oils) Skin Care Baby Care ~5x ~5x ~3.5x ~3x ~3x ~3.5x ~2x ~2x x x x x FY21 FY25 FY27E FY21 FY25 FY27E FY21 FY25 FY27E FY21 FY25 FY27E Revenues from Premium Categories grew at 24% CAGR over FY21-25 | E
Slide 20: International growth construct
-based growth construct Bangladesh to maintain double digit momentum MENA & South Africa scaling up - broad basing of the business in progress Consistent Double digit Growth Trajectory in MENA and SA Revenue Share (as a % of International business) MENA + SA CCG (%) Bangladesh 25% 30% CAGR CAGR ~51%
Slide 21: Powering double-digit revenue growth aspirations
Powering double-digit revenue growth aspirations in the near and medium term India Business: Building volume-driven revenue growth International Business: Going momentum Strong Volume growth (%) Revenue growth (%) International Business CCG (%) 7% 6% 4% 5% Strengthen double-digit growth momentum Q1F
Slide 22: Aspiring for double-digit operating profit growth in FY26
Aspiring for double-digit operating profit growth in FY26 despite near term cost headwinds Higher profit uplift Scaling Premium Institutionalized Supply Chain & Pricing Power of driven by Foods & Categories Cost Management Back-end Core Brands PPC scale-up Overseas Program Capabilities Margin accret
Slide 23: Index
Index Macro Overview Performance Outlook Financials Highlights 4 6 15 23 22 Marico Information classification: Official
Slide 24: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement P&L Particulars Q4FY25 Q4FY24 Change (%) FY25 FY24 Change (%) Revenue from Operations 2,730 2,278 20% 10,831 9,653 12% Material Cost 1,404 1,103 27% 5,388 4,748 13% ASP 305 226 35% 1,128 952 18% Employee Cost 208 186 12% 831 743 12% Other Expenses 355 321 11% 1,3
Slide 25: Annexure 1: Operating Margin Structure
Annexure 1: Operating Margin Structure for Marico Limited (Consolidated) Particulars (% of Revenues) Q4FY25 Q3FY25 Q4FY24 FY25 FY24 Material Cost (Raw + Packaging) 51.4% 50.5% 48.4% 49.7% 49.2% Advertising & Sales Promotion (ASP) 11.2% 10.5% 9.9% 10.4% 9.9% Personnel Costs 7.6% 7.4% 8.2% 7.7% 7.7% O
Slide 26: Annexure 2: Working Capital
Annexure 2: Working Capital Key P&L Capital Efficiency Ratios Particulars Q4FY25 Q3FY25 Debtors Turnover (Days) 42 43 Inventory Turnover (Days) 47 49 Net Working Capital (Days) 44 44 Note: The Company has maintained healthy working capital ratios through the year. 25 Marico Information classificatio
Slide 27: Annexure 3: Movement of Key Raw Material Prices
Annexure 3: Movement of Key Raw Material Prices YTD: +48% YoY Copra Rice Bran Oil YTD: +25% YoY Key P&L Liquid Paraffin (LLP) YTD: -8% YoY HDPE YTD: -4% YoY se prices. 26 Marico Information classification: Official
Slide 28: Annexure 4: Market Shares in Key Categories in India
Annexure 4: Market Shares in Key Categories in the India Business - Franchise ~MS% Rank ^ Coconut Oil Franchise 63% 1st ^ Parachute Rigids within Coconut Oil 54% 1st * Saffola Oats 41% 1st * Value Added Hair Oils 28% 1st ^ Post wash Leave-on Serums 47% 1st *^ Hair Gels/Waxes/Creams 53% 1st ^ Volume
Slide 29: Annexure 5: ESG Performance Snapshot (Q4 FY25)
Annexure 5: ESG Performance Snapshot (Q4 FY25) Jalgaon plant, which transitioned to 100% green energy from Initiatives conducted as part of Jalashay across Tamil Nadu Teachers engagement at Jharkhand, Madhya Pradesh and January 2025 through a Green Energy Agreement with MSEDCL. and Maharashtra. Chat
Slide 30: Annexure 6: Awards & Recognitions
Annexure 6: Awards & Recognitions Marico has been ranked #8 among the Top category on the Indian Corporate OHSSAI's 9th Annual HSE Excellence & ESG Global Awards 10 Most Desirable FMCG Companies in Governance Scorecard by Institutional 2024 India at 2025 Unstop Investor Advisory Services 29 Marico I
Slide 31: Thank You
MARICO LIMITED CIN - L15140MH1988PLC049208 7th Floor, Grande Palladium 175, CST Road, Kalina, Santa Cruz (East) Mumbai- 400 098 www.marico.com Websites: www.niharnaturals.com www.beardo.in www.justherbs.in Thank You www.parachuteadvansed.com www.saffola.in www.true-elements.com www.mylivonmysalon.co
Slide 32: Information Update for Q4FY25: Executive Summary
Marico Information Update for Q4FY25 (Quarter ended March 31, 2025) Executive Summary: Consolidated Results Particulars ( Cr) Q4FY25 YoY Growth FY25 YoY Growth Revenue from Operations 2,730 20% 10,831 12% EBITDA 458 4% 2,139 6% EBITDA Margin (%) 16.8% Down ~260 bps 19.7% Down ~125 bps Profit After T
Slide 33: Information Update for Q4FY25 (continued)
Marico Information Update for Q4FY25 (Quarter ended March 31, 2025) the improving growth trajectory to sustain through next year, supported by sustained ATL investments and focused brand activations. Saffola Edible Oils posted 26% growth in value terms. The brand recorded a low single-digit volume d
Slide 34: Information Update for Q4FY25 (continued)
Marico Information Update for Q4FY25 (Quarter ended March 31, 2025) surpassing aspirations for the year. We expect to scale this portfolio to ~2.5x of FY24 ARR (earlier ~2x of FY24 ARR) in FY27. Consequently, we expect the India revenue share of the Foods and Premium Personal Care portfolios to expa
Slide 35: Information Update: Mode of issue and disclosures
Marico Information Update for Q4FY25 (Quarter ended March 31, 2025) Mode of Issue of this update We recommend that readers refer to the Marico Group financials to get a better appreciation of the business performance. A copy of the latest Annual Audited Financial Results of Marico Limited (Standalon
Slide 36: Marico Limited Q4FY25 Results
Marico Limited Q4FY25 Results India Volume and Revenue Growth at 14 quarter high Consolidated Revenues crosses the 10,000 cr. milestone in FY25 International business sustains robust double-digit growth momentum FY25 Reported Net Profit up 10% 7% in the India business and constant currency growth of
Slide 37: International Business and Outlook
International Business Bangladesh posted 11% CCG underscoring the resilience of the business model in a challenging macro environment. The fundamentals and medium-term growth construct of the business remain intact. Vietnam had a flattish quarter, but is expected to chart a gradual pickup in the com