Marico Shares Jumps 2% Climbing Fresh Peaks After Strong Q4 FY26 Results; Brokerages Stay Bullish

Shares of Marico surged on Wednesday after the FMCG major reported better-than-expected revenue and profitability for the March quarter.

Marico share price rallied during the trading session, touching a fresh 52-week high of Rs. 842 per share. At the time of writing, Marico shares were trading at Rs. 819 apiece, up 1.49%. The company's market capitalisation stood at around Rs. 1,06,338 crores.

Marico Q4 FY26 Results

For the quarter ended March 2026, Marico reported a consolidated net profit of Rs. 408 crores, marking an 18% year-on-year growth. Consolidated revenue from operations rose sharply to Rs. 3,333 crores compared to Rs. 2,730 crores reported in the same quarter last year.

Marico's EBITDA rose 14% year-on-year during the March quarter. However, the EBITDA margin contracted by 114 basis points YoY to 15.6%. However, there was some relief sequentially as gross margins improved by 140 basis points QoQ due to easing copra prices.

The company said the strong growth was mainly because of the healthy performance in both domestic and international businesses. India business recorded 9% underlying volume growth, while the international business posted 19% constant currency growth.

Domestic Business Analysis

Marico's domestic revenue increased 21% year-on-year to Rs. 2,505 crores. The company pointed that more than 95% of its business either gained or sustained market share during the quarter.

Strong traction in core brands, rural recovery, and continued growth in e-commerce channels supported the domestic business performance.

According to the company, the India business continued to receive healthy demand momentum across key categories.

International Business Analysis

The international segment was also a major growth driver for Marico during Q4 FY26. Revenue from the international business rose 25% to Rs. 828 crores.

The company reported positive growth across most international markets, although the Gulf region is still under pressure due to geopolitical challenges.

Despite the regional headwinds, the international portfolio contributed significantly to overall revenue growth.

Rs. 4/sh Dividend Announced

The board of directors of Marico recommended a final dividend of Rs. 4 per equity share for FY26.

Brokerage On Marico

Brokerage firm Nuvama Institutional Equities maintained a positive outlook on Marico shares after the Q4 results.
According to the brokerage, Marico's Q4FY26 revenue, EBITDA, and volume growth largely came in line with estimates. Revenue surged 22.1% YoY, while EBITDA expanded 13.8% YoY compared to just 4.1% growth seen in Q4FY25.

The brokerage highlighted that India volumes grew 9% YoY, while value growth stood at 21% YoY. Parachute value growth came in at 29% despite a slight decline in volumes, while Saffola continued to report healthy growth.
While the brokerage flagged El Nino as a potential risk for rural consumption in H2FY27, it maintained a 'BUY' rating on the stock and increased the target price to Rs. 955 from Rs. 900 earlier.

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