Slide 1: Stock exchange cover letter for Information Update
January 27, 2026 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 Co
Slide 2: Q3 FY26 Results
Too smooth to handle Flaxseed Ultra Smooth Care Me marico make a difference Q3 FY26 Results JANUARY 2026 re 7 | Truly Good. Truly Yum.
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 ‘expects, anticipates, intends, will, would, undertakes, aims, estimates, contemplates, seeks to, objective, goal, projects, should’ and similar
Slide 4: Index
Index Macro Overview Performance Outlook Financials Highlights 4 6 14 20 3
Slide 5: Consumption momentum stable | Demand trends expected to gradually improve
Consumption momentum stable | Demand trends expected to gradually improve Positive Macro Drivers FMCG Sector Volume Growth* All-India Continued Easing Inflation Strong Rural Demand Momentum Boosting real purchasing power Favorable rabi season and MSP hikes for households bodes well Urban GST Rationa
Slide 6: Index
Index Macro Overview Performance Outlook Financials Highlights 4 6 14 20 5
Slide 7: Sustained volume momentum in India | International business extends robust growth
Sustained volume momentum in the India business | International business extends robust growth trajectory Q3FY26 (YoY) India International Consolidated 8% 21% 27% Volume Growth Constant Currency Growth Revenue Growth 15% 11% 16.7% 12% Consolidated A&P Consolidated EBITDA Consolidated EBITDA Consolid
Slide 8: Parachute & Saffola pricing inelasticity | VAHO reinforces strength
Parachute & Saffola continue to exhibit pricing inelasticity| VAHO reinforces strength Parachute Coconut Oil Saffola Edible Oils Value Added Hair Oils (36% of India Revenues) (16% of India Revenues) (18% of India Revenues) 4Y Vol. CAGR : Mid-single digit in Edible Oils a * (1%) 50% Marginal decline
Slide 9: Foods poised to accelerate in the quarters ahead
Foods poised to accelerate in the quarters ahead Q3 Value Growth 5% 8
Slide 10: Strategic Investment in 4700BC: Expanding TAM through Premium Gourmet Snacking
Strategic Investment in 4700BC: Expanding TAM through Premium Gourmet Snacking Founded in 2013, a leading premium gourmet snacking brand Pioneered gourmet popcorn - #1 RTE popcorn player in India Strong NPD pipeline ahead – to augment current portfolio also comprising popped chips, makhana, crunchy
Slide 11: Premium Personal Care: Maintains Scale-up Momentum
Premium Personal Care: Maintains Scale-up Momentum Serums | Male Grooming | Skin Care Digital-First Brands Expected FY26 Expected FY26 > ₹350 cr. Exit ARR > ₹1000 cr. Exit ARR 10
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 FY24 3-Year Phased Plan FY27 1x 1.5x Direct Reach Direct Reach A fit for purpose and fit for future GTM Model Visible positive outcomes across urban GT and mid & premium VAHO segments To drive profitable growth and Pan
Slide 13: Broad based growth in International business
Broad based growth in International business | Vietnam & South Africa rebound smartly Bangladesh Vietnam MENA South Africa 29% 22% 17% 16% Q3 CCG Q3 CCG Q3 CCG Q3 CCG Core and New Franchises HPC categories exhibiting Hair Care continues to lead Key franchises regaining continue to deliver visible tr
Slide 14: Index
Index Macro Overview Performance Outlook Financials Highlights 4 6 14 20 13
Slide 15: Diversification on track: Foods scaling in line with aspirations
Diversification on track: Foods scaling in line with aspirations | GM expansion to continue 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 Revenues (in ₹ cr.) Foods Gross Margin (%)
Slide 16: 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-first brands exit ARR (in ₹ cr.) Digital-first EBITDA Margin (%) ~2.5x Ax
Slide 17: Digital Businesses: Driving TAM Expansion and Brand Penetration
Digital Businesses: Driving TAM Expansion and Brand Penetration ASPIRATION OVER 3 YEARS Revenues in INR Cr Nutraceuticals Men’s Grooming Breakfast Hair care 2,000-2500 & Skin care CURRENT CATEGORIES Fragrances Seeds & Herbal Skin & Hair Care trail mixes Cosmetics Personal Care Appliances 2.5X Nutrac
Slide 18: Powering double-digit revenue growth aspirations
Powering double-digit revenue growth aspirations in the near and medium term India Business: Building volume and revenue growth momentum and International Business: driving diversification Going Strong Volume Growth (%) Revenue growth (%) International Business CCG (%) 8% 14% 5% 14% 2% 9MFY24 9MFY25
Slide 19: Resilient profit growth amidst hyperinflation in input costs
Continue to deliver resilient profit growth amidst unprecedented hyperinflation in input costs 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 ac
Slide 20: Index
Index Macro Overview Performance Outlook Financials Highlights 4 6 14 20 19
Slide 21: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement (in ₹ cr.) P&L Particulars Q3FY26 Q3FY25 Change (%) 9MFY26 9MFY25 Change (%) Revenue from Operations 3,537 2,794 27% 10,278 8,101 27% Material Cost 1,997 1,411 42% 5,724 3,984 44% ASP 336 293 15% 980 823 19% Employee Cost 241 207 16% 679 623 9% Other Expenses 371
Slide 22: Annexure 1: Operating Margin Structure for Marico Limited (Consolidated)
Annexure 1: Operating Margin Structure for Marico Limited (Consolidated) Particulars (% of Revenues) Q3FY26 Q2FY26 Q3FY25 9MFY26 9MFY25 Material Cost (Raw + Packaging) 56.5% 57.4% 50.5% 55.7% 49.2% Advertising & Sales Promotion (ASP) 9.5% 9.9% 10.5% 9.5% 10.2% Personnel Costs 6.8% 6.3% 7.4% 6.6% 7.7
Slide 23: Annexure 2: Working Capital
Annexure 2: Working Capital Key P&L Capital Efficiency Ratios Particulars Q3FY26 Q2FY26 Debtors Turnover (Days) 42 41 Inventory Turnover (Days) 41 35 Net Working Capital (Days) 38 35 Note: The Company has maintained healthy working capital ratios through the year. 22
Slide 24: Annexure 3: Movement of Key Raw Material Prices
Q3FY23 Q3FY23 Q4FY23 Key P&L Q4FY23 Q1FY24 Q1FY24 Q2FY24 Q2FY24 Q3FY24 Q3FY24 Q4FY24 Q4FY24 Q1FY25 Q1FY25 Copra Q2FY25 Q2FY25 Q3FY25 Liquid Paraffin (LLP) Q3FY25 Q4FY25 Q4FY25 Q1FY26 Q1FY26 Q2FY26 Q2FY26 YTD: -2% YoY YTD: +84% YoY Q3FY26 Q3FY26 Q3FY23 Q3FY23 Annexure 3: Movement of Key Raw Material
Slide 25: Annexure 4: Market Shares in Key Categories in the India Business
Annexure 4: Market Shares in Key Categories in the India Business - MAT Dec’25 Franchise ~MS% Rank ^ Coconut Oil Franchise 64% 1st ^ Parachute Rigids within Coconut Oil 54% 1st * Saffola Oats 41% 1st * Value Added Hair Oils 30% 1st ^ Post wash Leave-on Serums 45% 1st *^ Hair Gels/Waxes/Creams 52% 1s
Slide 26: Annexure 5: ESG Performance Snapshot (Q3 FY26)
Annexure 5 : ESG Performance Snapshot (Q3 FY26) Emissions & Energy Water Stewardship Responsible Sourcing Sustainable Agriculture Social Value Creation • 87.43% reduction • 12.5 KL/ Cr INR fresh water • 69% of our suppliers • 1.38 lakhs farmers • 1.5 Lakhs students (Scope 1+2) in GHG withdrawal inte
Slide 27: Annexure 6: Recent Update on ESG Ratings
Annexure 6 : Recent Update on ESG Ratings S&P – Corporate Sustainability Assessment MSCI ESG Ratings 79 AA AA 64 65 AA A 45 Leadership Category For 3 Years FY 22 FY 23 FY 24 FY 25 In A Row FY 22 FY 23 FY 24 FY 25 CDP – Climate Change & Water Security Sustainalytics by Morningstar 29.5 26.5 A- 21.5 1
Slide 28: Annexure 7: Awards and Recognitions
Annexure 7: Awards and Recognitions Marico has been conferred Marico was recognized as the Marico featured among with Mahatma Award 2025 for Champion of the Circular Winners of Adam Smith CSR Excellence in Water Revolution by ET Edge Awards 2025 for Best Foreign Management Exchange Solution 27
Slide 29: 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.parachuteadvansed.com www.justherbs.in www.saffola.in www.mylivonmysalon.com/ www.setwet.com www.true-eleme
Slide 30: Information Update for Q3FY26: Executive Summary
Marico – Information Update for Q3FY26 (Quarter ended December 31, 2025) Executive Summary: Consolidated Results Particulars (₹ Cr) Q3FY26 YoY Growth 9MFY26 YoY Growth Revenue from Operations 3,537 27% 10,278 27% EBITDA 592 11% 1,807 7% EBITDA Margin (%) 16.7% Down 234bps 17.6% Down 317 bps Profit A
Slide 31: Information Update for Q3FY26
Marico – Information Update for Q3FY26 (Quarter ended December 31, 2025) premium offerings within the portfolio, including the recently introduced Cold Pressed Oils. We expect the brand to revert to a healthy growth trajectory in the coming quarters. • Foods grew 5% YoY, in line with our ongoing str
Slide 32: Information Update for Q3FY26
Marico – Information Update for Q3FY26 (Quarter ended December 31, 2025) The rapid scale up of these portfolios has been accompanied by significant improvement in their profitability, resulting in their share of India Net Contribution (NC) moving to double digits (~5x of FY22 levels). This underscor
Slide 33: Mode of Issue of this update
Marico – Information Update for Q3FY26 (Quarter ended December 31, 2025) Mode of Issue of this update We have issued this Information Update, first to the Stock Exchanges, posted it on Marico’s website and then sent it to the financial community members who are on Marico’s regular mailing list. We r
Slide 34: Marico Limited – Q3FY26 Results
Marico Limited – Q3FY26 Results Consolidated Revenue grew 27% India business delivers 8% volume growth VAHO strengthens trajectory with 29% growth International business maintains robust momentum; posts 21% CCG EBITDA up 11% YoY; PAT up 12% YoY In Q3FY26, Revenue from Operations was at ₹3,537 crore,
Slide 35: Foods and Premium Personal Care; International Business
Foods grew 5% YoY, in line with our ongoing strategic focus on calibrating franchise profitability in view of the growing scale of the business. Saffola Oats continued to gain market share on a MAT basis, retaining its position as the #1 Oats brand. We expect the portfolio to revert to its accelerat