Marico Q2 FY27: consolidated PAT up 29% YoY to ₹558 Cr as margins expand, revenue +13%

Marico's consolidated PAT rose 29% YoY to ₹558 Cr (₹550 Cr attributable to owners, EPS ₹4.24) on revenue of ₹3,897 Cr, up 13% YoY against the restated year-ago base of ₹3,450 Cr. Sequentially both lines eased from Q1 FY27's ₹3,957 Cr revenue and ₹652 Cr PAT — down 1.5% and 14% respectively — reflecting the seasonally softer quarter and the input-cost pressure management had flagged coming into it.

Operating profit (PBT plus finance cost) of ₹698 Cr grew 24% YoY, landing almost exactly on the ~₹700 Cr, mid-20s growth the company itself guided in its October 5 pre-quarter business update. Net profit margin expanded to 14.3% from 12.5% a year ago but compressed from 16.3% in Q1 FY27, as elevated crude and vegetable-oil costs — called out explicitly in the prior concall as a Q2 risk even with copra staying ~35% below its peak — weighed on the sequential trend. India revenue grew 9.8% YoY to ₹2,916 Cr, with the company's own update citing double-digit underlying volume growth, ahead of the high-single-digit pace guided for the full year. International revenue rose 23.4% YoY to ₹981 Cr, though part of that reflects the April 2026 consolidation of Skinetiq (Vietnam skincare), which management itself notes makes the period not fully comparable to prior quarters.

The stock went into the print at ₹798.55, up 1.6% over the past month of trading.

For context: this is the second-highest quarterly PAT of the last 6 quarters.

Against the FY27 guidance laid out on the August concall — double-digit revenue growth crossing ₹15,000 Cr, high-teens-to-20% EBITDA growth, and high-single-digit India volumes — the quarter beats on volume and EBITDA growth pace, while tracking almost exactly to the more specific figures the company pre-announced on October 5. Nuvama, reviewing that update, called the revenue and EBITDA trajectory in line with its estimates; the actual print does not deviate materially from that read. No post-result press release commentary beyond the pre-quarter business update was available for this filing. Standalone PAT of ₹683 Cr (EPS ₹5.27) runs ahead of the consolidated figure only because standalone other income includes ₹272 Cr of dividends from subsidiaries that eliminate on consolidation — the consolidated number is primary here. Separately, the board used the quarter to raise the Satiya Nutraceuticals (Plix) stake to 84.09% via an October 5 agreement, with the remaining 14.09% due to complete in July 2027.