The Marico share price saw renewed interest in the stock market today as the FMCG major’s Q2 performance came under the spotlight. Early in the session, Marico NSE and Marico BSE counters recorded fresh activity, driven by a sharp rise in operating revenue and steady volume growth in India.
While the broader stock market today stayed mixed, Marico’s numbers created a clear talking point for traders tracking consumption-sector earnings.
Market Performance: Marico Share Price Reacts to Q2 Print
Marico shares opened firm in the early trade on Monday, extending the positive tone that followed the company’s latest earnings update.
The stock was seen around ₹764.65, reflecting the initial reaction to the financials declared on November 14.
Even with margin pressure visible in the quarter, the market’s first response focused on two things — strong top-line growth and steady demand across categories.
Main News: Marico Q2 Results Show Broad-Based Growth
Marico’s Q2 FY26 results highlighted a quarter shaped by strong revenue growth and a mixed margin picture. The company reported a net profit of ₹420 crore, compared with ₹423 crore in the same quarter last year.
However, Marico noted that after adjusting for one-offs in the base period, profit actually grew 8% YoY.
The company’s revenue from operations delivered a sharp jump:
- Revenue: ₹3,482 crore (+31% YoY)
- EBITDA: ₹560 crore (+7%)
- EBITDA Margin: 16.1% (down 350 bps)
- Net Profit: ₹420 crore (vs ₹423 crore YoY)
Inflation in key raw materials, primarily copra, continued to put pressure on margins, which is reflected in the lower EBITDA margin compared to the previous year.
Company Details: India Business Leads with Strong Volumes
Marico said in its statement that demand trends in India remained steady through the quarter, except for temporary disruptions in trade channels due to the shift to new GST rates in September.
Despite this transitional phase, the India business delivered one of its strongest performances in recent quarters:
- India revenue: ₹2,667 crore (+35% YoY)
- Volume growth: 7% YoY
- Supported by: Price hikes in core categories to manage cost inflation
The broad-based strength in the domestic market played a central role in the company’s growth story for the quarter.
Marico also reiterated that inflation in copra, a key input for its flagship hair oil portfolio, was a major factor behind the margin contraction seen in Q2.
Revenue Breakdown: Strong Rise Across Categories
Keeping the numbers clear and easy to track:
Q2 FY26 Revenue Snapshot
- Total Revenue: ₹3,482 crore
- India Revenue: ₹2,667 crore
- YoY Growth: 31% overall
- Volume Growth (India): 7%
The revenue jump was supported by a mix of price increases and category strength across the FMCG portfolio.
EBITDA & Margin Details
Marico EBITDA – Q2 FY26
- EBITDA: ₹560 crore
- EBITDA Growth: 7% YoY
- EBITDA Margin: 16.1%
- Margin Change: –350 bps
The margin drop was primarily driven by higher input costs and increased pressure on key raw material prices.
Net Profit Performance
Net Profit – Q2 FY26
- Q2 FY26 Net Profit: ₹420 crore
- Q2 FY25 Net Profit: ₹423 crore
- Underlying Profit Growth (adjusted): +8% YoY
The reported number shows a slight decline, but the adjusted metric reflects a healthier operational performance.
Marico Q2 Impact: What Stood Out This Quarter
A few themes defined Marico’s Q2 earnings:
- Strong revenue growth across the portfolio
- Price-led expansion in core categories
- Margin pressure from commodity inflation
- Consistent volume momentum in India despite the GST transition
- Stable demand environment in key markets
These drivers shaped both the quarterly performance and the immediate market sentiment around the stock.
Summary: Marico Shares Find Support as Strong Revenue Growth Offsets Margin Pressure
The mood around Marico's share price today was largely built around the company’s strong top-line performance. While margins came under pressure due to inflation in critical inputs like copra, the 31% revenue growth, 7% EBITDA increase, and steady domestic volumes helped balance overall sentiment.
With Marico results now out, the focus across Marico NSE and Marico BSE counters remains on the company’s ability to maintain growth in core categories while navigating cost pressures. The Marico Q2 earnings highlight a quarter marked by solid demand, disciplined pricing decisions, and operational stability, making it one of the key FMCG updates in the stock market today.
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