Marico targets ₹20,000 crore revenue by 2030

Pawan Agrawal, Group CFO and CEO of International Business, Marico 

Fast-Moving Consumer Goods (FMCG) maker Marico has set its sights on doubling its revenue and reach ₹20,000 crore by 2030, a top official told businessline.

The Mumbai-headquartered company crossed the ₹10,000 crore revenue mark in FY25, and is focusing on growth in its core portfolios. It plans to reach the revenue milestone through organic and inorganic growth across its products portfolio.

“We expect overall volume growth in the core business to gradually improve with the newer segments of the portfolio continuing to grow over 25–30 per cent,” said Pawan Agrawal, Group CFO and CEO of International Business (Rest of South Asia and SE Asia).

“Applying this lens, we are confident of delivering double-digit revenue growth consistently over the medium term. Given this momentum, if we can shift the overall growth trajectory to low teens, achieving a 2x growth over the next 4–5 years is within reach,” he said.

Green shoots

The company’s food business crossed ₹900 crore in revenue in FY25. The foods portfolio has grown 5x of the FY20-level, and Agrawal said he expected 25 per cent growth over the medium term to rise about 8x, while continuing to improve profitability in the category. While oats, honey, and soya chunks saw growth, the company also witnessed green shoots in its newer launches, including muesli.

The digital-first portfolio exited FY25 at ₹750 crore ARR. The company is expecting the exit ARR to be 2.5x of FY24 ARR in FY27, up from the previous target of 2x.

Male grooming and personal care brand Beardo has quadrupled since FY21 while ‘Just Herbs’ crossed ₹100-crore revenue mark in FY25.

Marico’s portfolio includes well-known brands such as Parachute and Saffola.

Investment

The company will continue its investment in advertising and promotion, as part of its marketing and brand-building exercise.

“If you look at even last year, at a full-year level, we grew our brand-building investments by 18 per cent. We remain committed to continue investing in brand building, as we believe it’s very important to focus on mid to long-term growth rather than managing short-term margins using A&P as a lever. So, we’ll continue to invest. And since we have expanded in a lot of newer categories, it is also imperative for us to invest in A&P to build those new portfolios. Investments in newer portfolios could grow by 40-50 per cent as well,” Agrawal said. 

Demand outlook

Marico is positive about the demand returning in the FMCG segment across the country in FY26.

“Consumption among the upper middle class has continued to trend healthily. We also anticipate a gradual recovery in middle-class consumption in the coming quarters. As far as Marico’s business is concerned, we continue to deliver strong performance across all key parameters. We’re witnessing encouraging trends in demand across several core categories, including Parachute coconut oil, Saffola edible oil and value-added hair oils. Our diversified portfolio, comprising foods and premium personal care, including the digital-first portfolio, continues to grow well over 25 per cent. Looking ahead to FY26, we remain confident in our ability to improve over FY25 across all key dimensions,” he added. 

Published on June 5, 2025