Marico Limited · NSE:MARICO
Marico — Investor Presentation (March 2026)
53 slides from Marico's investor presentation, March 2026
Slide 1: Corporate Presentation
Corporate Presentation March 2026
Slide 2: Marico at a Glance
MARICO AT A GLANCE One of India’s leading Consumer Products companies operating in the Beauty & Wellness space. 30+ Years $ 11 bn. 22% Operating since 1990 Market Capitalisation as on 28th Feb, 2026 Total Shareholder Return CAGR since listing in 1996 39,289 ₹ 10,831 cr. ₹ 1,593 cr. FY25 Revenue FY25
Slide 3: Geographical Presence
GEOGRAPHICAL PRESENCE Marico aspires to be a leading emerging market MNC with a leadership position in the categories of Leave-in Hair Nourishment, Foods and Male Grooming in a few chosen markets in Asia and Africa. South India Africa Middle South East & East Asia North Bangladesh Africa The Company
Slide 4: Board of Directors
BOARD OF DIRECTORS Mr. Harsh Mariwala Mr. Saugata Gupta Mr. Ananth Narayanan Ms. Apurva Purohit Chairman & Non-Executive Director Managing Director & CEO Independent Director Independent Director Mr. Bhaskar Bhat Mr. Milind Barve Ms. Nayantara Bali Mr. Nikhil Khattau Independent Director Lead Indepe
Slide 5: Management Team
MANAGEMENT TEAM Mr. Saugata Gupta Mr. Ashish Goupal Mr. Amit Bhasin Managing Director & CEO Chief Executive Officer – India Core Business Chief Legal Officer & Group General Counsel Mr. Amit Prakash Mr. Nitin Kathuria Mr. Pawan Agrawal Chief Human Resources Officer Chief Supply Chain Officer - India
Slide 6: Strategy Framework
STRATEGY FRAMEWORK l lJ MmMarlco make a difference
Slide 7: Choice Making Framework - Where to Play
CHOICE MAKING FRAMEWORK - WHERE TO PLAY Per Capita Population Maturity Retail Income Emerging Economies with Large Young Population – Low Penetration in our chosen High Proportion of Traditional Lower but Fast Growing Per Demographic Dividend categories. Lower Intensity of Retail Capita Income Compe
Slide 8: Inorganic Growth Opportunities - Playbook
INORGANIC GROWTH OPPORTUNITIES - PLAYBOOK Key Attributes Premium Select Hair Healthy Existing Categories Personal Markets Markets in Nourishment Care Foods Markets Asia New Markets o Market Leader Brand o Strong Distribution Past Acquisitions/Strategic Investments 2006 2007-08 2010 2011 Existing Mar
Slide 9: India Business
INDIA BUSINESS l lJ MmMarlco make a difference
Slide 10: India Business Overview
INDIA BUSINESS OVERVIEW India Business Revenues (₹ cr.) 8,110 7,333 7,351 7,132 6,189 FY21 FY22 FY23 FY24 FY25 MEDIUM TERM EXPECTATIONS Share of Group Revenues Diversified portfolio of trusted core Double-digit revenue growth brands and digital brands scaling up 75% at an accelerated pace Operating
Slide 11: India Business: Portfolio Overview (1/2)
INDIA BUSINESS : PORTFOLIO OVERVIEW (1/2) Coconut Value Added Edible Oils & Foods Oil Hair Oils • Saffola Oils • Saffola Oats • Saffola Honey • Parachute • Parachute Advansed • Saffola Soya Chunks • Nihar Naturals • Nihar Naturals • Plix (Nutraceuticals) • Oil of Malabar • Hair & Care • True Element
Slide 12: India Business: Portfolio Overview (2/2)
INDIA BUSINESS : PORTFOLIO OVERVIEW (2/2) Premium Digital-First Others Personal Care PPC (PPC) • Mediker • Beardo • Livon • Plix (Personal Care) • Revive • Set Wet • Just Herbs • Parachute Advansed • Kaya 12
Slide 13: Coconut Oil
COCONUT OIL Market : ~INR 82 bn* (~USD 900 Mn) Only Player with Nation-wide Reach – Dominant Market Leader Parachute 56% Nihar 6% Oil of Malabar 2% Total Volume Share ~64% Parachute Nihar Oil of Malabar ~30% Mid Single Digit 36% Estimated % of the Market (in volumes) Medium-term India Business selli
Slide 14: Value Added Hair Oils (1/2)
VALUE ADDED HAIR OILS (1/2) Market : ~INR 92 bn (~USD 1 bn) 23% 29% 11% 4% 21% 12% Not present Light Hair Oils Amla Oils Value Added Cooling Oils Anti-Hair Fall Others Coconut Oils Medium Term Value Growth Aspiration – Double Digit Likely to see sustained growth Market Leader in Hair Oils One of the
Slide 15: Value Added Hair Oils (2/2)
VALUE ADDED HAIR OILS (2/2) Belief in benefits of Leave-in v/s Rinse-off solutions Improves Reduces Reduces Softens Improves Thickness, Protein Breakage Hair Shine Strength And Loss Length Over the years, with economic growth, consumers have been upgrading Base Oils Better Sensorials Functional Bene
Slide 16: Saffola
SAFFOLA Evolution from an edible oil brand to a leading healthy lifestyle brand o On the back of increasing relevance of healthy living 22% o Extension of brand equity into Healthy Foods for breakfast, in-between meals, plant-based India Business protein, healthy snacking and immunity boosting foods
Slide 17: Premium Hair Nourishment
PREMIUM HAIR NOURISHMENT Market : ~INR 5 bn (~USD 55 mn) Medium Term Value Growth Aspiration: 25%+ o Tail wind category with low penetration o Focus on driving category growth through innovation and ~45% Volume Market Share consumer engagement Leader in Leave-in Hair Conditioners o Key Channels: Spe
Slide 18: Male Grooming
MALE GROOMING o Marico acquired Set Wet in May 2012 o Tail wind category with low penetration o Caters to millennials – therefore huge growth potential Hair Gels/ Creams Deodorants Waxes Medium Term Value Growth Aspiration: 25%+ Medium Term Strategy o Growing the market through continuous product an
Slide 19: Beardo
BEARDO INSPIRING A NEW ERA OF MEN’S GROOMING Beard Care, Hair Care, Skin Care, Bath & Body, Fragrances and Grooming Appliances o Beardo was born to REDEFINE men’s grooming, empowering men to discover Crossed ₹200 Cr. in revenues in FY25 their unique sense of masculinity and style o Transitioned from
Slide 20: Just Herbs
JUST HERBS “PURE, BESPOKE & AYURVEDIC RESULTS - DRIVEN” Herbal Cosmetics, Skin Care, Hair Care, Bath & Body, and Fragrances o Just Herbs is a line of pure, bespoke and Ayurvedic, results-driven skin and hair care products, made from certified organic and wildcrafted ingredients ~₹100 Cr. in revenues
Slide 21: True Elements
TRUE ELEMENTS FOOD THAT DOES NOT LIE Wide range of Breakfast and Snacking Categories o India’s first 100% whole food-based ingredients with no preservatives, artificial colours or added sugar Crossed ₹150 Cr. in revenues in FY25 o One of the few Indian food brands to be globally recognized with “Cle
Slide 22: Plix
PLIX CLEAN PLANT-BASED HEALTH & NUTRITION BRAND - ‘TAKE CARE, HAVE FUN’ Nutraceuticals, Skin care, Bath & Body and Hair care o Plix challenges the traditional perception of health and wellness, with a central mission to make wellness an “enjoyable lifestyle” and focus on Crossed ₹400 Cr. in revenues
Slide 23: 4700BC: Expanding TAM Through Premium Gourmet Snacking
4700BC EXPANDING TAM THROUGH PREMIUM GOURMET SNACKING o Founded in 2013, a leading premium gourmet snacking brand o Pioneered gourmet popcorn - #1 RTE popcorn player in India Last 3 months ARR at ~₹140 Cr. o Strong NPD pipeline ahead – to augment current portfolio also comprising popped chips, makha
Slide 24: Cosmix: Fortifying Presence in Nutrition Space
COSMIX FORTIFYING PRESENCE IN NUTRITION SPACE o Founded in 2019, a leading digital-first functional wellness brand o Known for its vegan, gut-friendly formulations Last 6 months ARR at ~₹100 Cr. o #1 bestseller position in the plant protein category across leading e- commerce and quick commerce plat
Slide 25: Strong Distribution Network
STRONG DISTRIBUTION NETWORK OVERALL REACH: 5.8 MILLION OUTLETS OUT OF 11.3 MILLION OUTLETS – HUGE HEADROOM FOR GROWTH Urban – Rural Split : Urban salience is ~70% of sales while Channel Split: Alternate channels (Modern Trade and E- rural contributes the remaining ~30%. The split has largely Commerc
Slide 26: International Business
INTERNATIONAL BUSINESS l lJ MmMarlco make a difference
Slide 27: International Business
INTERNATIONAL BUSINESS International Business Revenues (in INR cr.) 2,721 2,521 2,414 2,179 1,859 FY21 FY22 FY23 FY24 FY25 MEDIUM TERM EXPECTATIONS Share of Group Revenues Organic Constant Currency Growth : Double Digit Operates in geographic hubs leading 25% to supply chain and media synergies Main
Slide 28: International Business: Portfolio Overview (1/2)
INTERNATIONAL BUSINESS: PORTFOLIO OVERVIEW (1/2) Bangladesh Coconut Oil, Hair Care, Skincare, Baby Care, Male Grooming and Styling, Edible Oils Vietnam Male Grooming and Styling, Foods, Female Personal Care 28
Slide 29: International Business: Portfolio Overview (2/2)
INTERNATIONAL BUSINESS: PORTFOLIO OVERVIEW (2/2) South Africa Hair Care, Health Care, Skincare MENA Coconut Oil, Hair Care, Male Grooming and Styling 29
Slide 30: Strategy Outlook
STRATEGY OUTLOOK l lJ MmMarlco make a difference
Slide 31: Driving 4Ds to Make Marico Future-Ready
DRIVING 4DS TO MAKE MARICO FUTURE-READY Unlock the next leg of growth through… Diversification Distribution Digital Diversity …..and continue to maintain focus on Grow the Core Cost Management ESG Commitments 31
Slide 32: Diversification – Premiumise Within Core Hair Oils
DIVERSIFICATION – PREMIUMISE WITHIN CORE HAIR OILS https://marico.com/images/brands/KMA-aloe-vera33.jpg Parachute Advansed Aloe Vera Enriched Coconut Hair Oil Parachute Advansed Superfoods Hair Oils Range 32
Slide 33: Diversification – Broaden and Scale-up in Foods
DIVERSIFICATION – BROADEN AND SCALE-UP IN FOODS Foods portfolio crosses ₹1000 Cr. in ARR Saffola Foods True Elements Plix 4700BC Cosmix 33
Slide 34: Diversification – Digital First Portfolio
DIVERSIFICATION – DIGITAL FIRST PORTFOLIO Digital First portfolio to exit FY26 at ₹1000+ Cr. ARR Beardo Just Herbs Plix Kaya 34
Slide 35: FY30 Diversification Blueprint
FY30 DIVERSIFCATION BLUEPRINT Digital-first PPC exit ARR (in ₹ cr.) Digital-first PPC EBITDA Margin (%) Teens ~5x Double Digit Digital-first PPC: Driving structural shift in profitability along with the accelerated scale- ~2.5x up. x Foods: Foods growth to be driven FY24 FY27E FY30E FY22 FY24 FY27E
Slide 36: Diversification – International Expansion (1/4)
DIVERSIFICATION – PORTFOLIO EXPANSION IN INTERNATIONAL MARKETS (1/4) Bangladesh Red King Men’s Cooling Oil ‘Parachute Naturale Shampoo’ range ‘Parachute Just for Baby’ Baby Skin Care range Vietnam X-Men Lashe Purité de Prôvence, Ôliv Candid Face Wash Range Hair Care and Shower Gel Range Female Perso
Slide 37: Diversification – International Expansion (2/4)
DIVERSIFICATION – PORTFOLIO EXPANSION IN INTERNATIONAL MARKETS (2/4) MENA - Middle East & Egypt Fiancee Nourishing Hair Oil Range Saffola Masala Oats Savoury Oats Range Parachute Advansed Hair Oil Range Fiancee Nourishing Hair Cream (Pump and Jar Packs) Parachute Skinpure Aromatic 100% Organic Extra
Slide 38: Driving Premiumisation in International Portfolio (3/4)
DIVERSIFICATION – DRIVING PREMIUMISATION IN INTERNATIONAL PORTFOLIO (3/4) Revenue share 20% of Premium 29% (FY21) categories (FY25) Revenues from Premium Categories grew at 24% CAGR over FY21-25 | Expect 25%+ CAGR ahead 38
Slide 39: Driving Premiumisation in International Portfolio (4/4)
DIVERSIFICATION – DRIVING PREMIUMISATION IN INTERNATIONAL PORTFOLIO (4/4) Bangladesh to maintain double digit momentum MENA & South Africa scaling up - broad basing of the business in progress Consistent Double digit Growth Trajectory Revenue Share (as a % of International business) in MENA and SA M
Slide 40: Distribution: Building Future-Ready Go-To-Market Infra
DISTRIBUTION : BUILDING FUTURE-READY GO-TO-MARKET INFRA Leverage IT & Analytics • PDAs, ISRO, RETINA New-Age & Specialty Channels • NAGTM – Chemists & Cosmetics, Foods • Specialist GT, Modern Trade, E-Commerce Distribution Expansion • Direct Reach & Wholesale 40
Slide 41: Distribution: Project SETU to Drive GT Growth
DISTRIBUTION : PROJECT SETU TO DRIVE GT GROWTH FY24 3-Year Phased Plan FY27 1x 1.5x Direct Direct Reach Reach A fit for purpose and fit for future GTM Model Visible positive outcomes across urban GT and mid & premium VAHO segments Pan-India rural expansion to drive To drive profitable growth and mar
Slide 42: Digital: IT & Analytics
DIGITAL: IT & ANALYTICS Business strategy driven by digital Innovate Incubate Scale Digital strategy aligned with business strategy Enablers - Talent & Skills, Ways of Working, Technology, Data assets, Analytics Initiatives: Prioritized use cases Spends effectiveness tower Digital Quotient of Market
Slide 43: Diversity: Diverse Talent and Inclusive Culture
DIVERSITY: DIVERSE TALENT AND INCLUSIVE CULTURE Diversity: Diverse Talent and Inclusive Culture ‘Inclusion Diversity’ will continue to be a strong business driver for Marico ‘Inclusion & Diversity’ will continue to be a strong business driver for Marico Gender Differently Abled Thought Inspiring Inc
Slide 44: Sustainability
SUSTAINABILITY l lJ MmMarlco make a difference
Slide 45: External Ratings
EXTERNAL RATINGS Marico has been rated by MSCI ESG Ratings from 2015 onwards Our 2025 rating stands at ‘AA’. AA AA AA AA A A A BBB 2018 2019 2020 2021 2022 2023 2024 2025 Marico paved its way into list Marico awarded as Marico received the prestigious of the 16 top Indian “Organisation with Sustaina
Slide 46: Awards & Accolades
AWARDS & ACCOLADES l lJ MmMarlco make a difference
Slide 47: Recent Awards and Recognitions
RECENT AWARDS AND RECOGNITIONS Awards and Recognitions Marico featured in the “Leadership” Marico Pondicherry plant awarded as Marico has been ranked #8 among the category on the Indian Corporate “Gold” at the OHSSAI's 9th Annual HSE Top 10 Most Desirable FMCG Governance Scorecard by IiAS Excellence
Slide 48: Stock Information
STOCK INFORMATION l lJ MmMarlco make a difference
Slide 49: Stock Information
STOCK INFORMATION Top Institutional Shareholders Stock Data Bloomberg Ticker MRCO IN EQUITY HDFC Mutual Fund RBC Global Asset Management BSE Ticker 531642 Fidelity International Aikya Asset Management NSE Ticker Marico Life Insurance Corporation of India Government Pension Fund Global Market Capital
Slide 50: Financial Highlights
FINANCIAL HIGHLIGHTS l lJ MmMarlco make a difference
Slide 51: 5 Year Trends
5 YEAR TRENDS Revenues & EBITDA Margin PAT* & PAT Margin 12,300 22.0% 1,600 15.2% 15.5% 14.7% 10,300 21.0% 14.4% 15.0% 8,300 21.0% 20.0% 1,100 14.5% 18.5% 19.7% 14.0% 6,300 19.8% 17.7% 19.0% 12.9% 13.1% 13.5% 4,300 18.0% 600 13.0% 2,300 17.0% 12.5% 8,048 9,512 9,764 9,653 10,831 1,162 1,225 1,280 1,
Slide 52: Dividend Payout
DIVIDEND PAYOUT Focus on maximization of shareholder value Dividend pay-out will continue to be maintained in line with stated policy – Click Here FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Dividend Payout Ratio 96% 83% 97% 45%* 83% 85% *Lower payout in FY2023 was attributable to acquisitions during
Slide 53: Thank You
Marlco THANK YOU make a difference