Marico sees sustained growth momentum, raises FY27 margin outlook

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Analysts have retained 'Buy' ratings with a potential upside of 12-15% from Tuesday's close.

Project SETU is expected to support growth by expanding Marico's direct retail reach and rural penetration, which will likely add 1-2% to annual volume growth. Improving performance in key overseas markets such as Vietnam, the Middle East and South Africa, along with a gradual recovery in Bangladesh, is likely to further strengthen growth momentum.

The company expects to deliver double-digit volume growth in India and revenue growth in teens at the consolidated level, with annual revenue likely to surpass ₹15,000 crore from ₹13,611 crore in FY26. Marico has advanced its ₹20,000 crore revenue goal by a year to FY29 instead of FY30. The improved growth outlook has led the company to raise its FY27 Ebitda growth guidance to the mid-20% range from around 20% earlier.