Marico Ltd, a homegrown fast-moving consumer goods company, announced on Friday that its packaged foods and premium personal care segments, which include products like oats, muesli, male grooming items, and wellness supplements, have achieved a combined annual revenue run rate (ARR) of ₹1,900 crore.
Saugata Gupta, managing director and CEO, shared during the company’s post-earnings call that the revenue share from foods and premium personal care, including digital-first brands, accounted for 21% of the domestic business in the first nine months of FY25, despite significant price increases in core categories. He noted that these segments are experiencing a remarkable shift in growth potential for the Indian market.
Marico’s foods portfolio features Saffola Oats, True Elements muesli, and the plant-based nutrition brand Plix. In the premium personal care category, it includes brands like Beardo, Just Herbs, and Plix’s personal care line. The company’s core offerings consist of well-known brands such as Parachute oil and Saffola Edible Oils.
To diversify its core hair and edible oils business, Marico has been exploring new categories and investing in emerging brands. In 2021, the company acquired a majority stake in Apcos Naturals Pvt. Ltd., which markets skin and hair care products under the Just Herbs brand. In 2023, it secured a majority stake in Satiya Nutraceuticals Pvt. Ltd., the owner of the plant-based nutrition brand Plix, for ₹369 crore, and fully acquired the male grooming brand Beardo.
Gupta mentioned that in 2020, the company aimed to develop a ₹1,000 crore foods portfolio and recognized the potential threat from direct-to-consumer brands impacting traditional players, a trend observed in developed markets like the US. He also highlighted the greater growth potential of the foods sector compared to beauty and personal care.
The digital-first portfolio, which includes Beardo, Just Herbs, and Plix’s personal care line, reached an ARR of ₹600 crore in the December quarter, while the foods segment approached ₹1,000 crore in ARR. The company reported a 4% increase in profit for the December quarter, totaling ₹399 crore, alongside a 6% volume growth in its India operations. Quarterly revenue rose by 15% to ₹2,794 crore, compared to ₹2,422 crore in the same period last year.
In urban markets, consumption sentiment remains stable and healthy among affluent and upper-middle-class consumers, while the middle and lower segments are also showing resilience.