Marico is aspiring to achieve ₹20,000 crore in annual revenue by 2029, a year ahead of its formal 2030 target, as the FMCG major bets on profitable digital-first businesses, premiumisation and international expansion. Managing Director and CEO Saugata Gupta, in an interview with businessline, discusses the company’s growth roadmap, acquisition strategy, commodity pressures and changing consumer preferences.
Edited excerpts:
Marico targets ₹20,000 crore by 2030. Can it get there earlier?
We expect to comfortably cross ₹15,000 crore in revenue this fiscal year. We are targeting mid-teens overall growth, comprising high-single-digit growth for the Indian business, accounting for 3–4 per cent inflation, alongside 20–25 per cent growth in our premium diversified segment and mid-teens constant currency growth in the international business. We have set a target of achieving ₹20,000 crore by 2030. We will try and aspire to do it by 2029.
When will digital-first acquisitions deliver sustained double-digit margins?
Beardo has achieved double-digit EBITDA. Plix is on a high-single-digit EBITDA. The recent acquisitions are profitable, and we are close to break-even in the rest of the businesses. Therefore, by the time we exit FY27, the overall digital business is expected to achieve double-digit EBITDA and then move towards mid-teens over the next two to three years.
Post the recent spree of acquisitions, is Marico prioritising returns over new acquisitions?
We maintain a disciplined acquisition strategy, focusing on adjacencies where we don’t have a right to win organically and ensuring valuations remain reasonable. We avoid aggressive acquisitions, and this focused approach is why our success rate is among the best in the industry. That said, we have already acquired a significant amount, and we have enough on our plate to drive growth, which will simply require time to scale.
Parachute recorded 13 per cent volume growth, its best in 22 quarters. Is this sustainable?
I believe Parachute will be sustainable if it settles down to a 4–6 per cent growth rate, which is a medium-term aspiration. The current growth is a one-time occurrence driven by multiple factors. One key factor is that last year, we saw a lot of downtrading, with consumers opting for smaller packs. We also implemented selective price drops, especially on the large packs.
Are copra savings funding higher advertising spending while protecting margins?
We are in a unique position compared to other players due to last year’s sharp rise in input costs. Copra prices surged by 100 per cent, leading us to implement a 60 per cent price hike. Although copra has decreased by 35 per cent from its peak this year, it still represents nearly 50 per cent of our raw-material base, and other costs like crude and packaging remain high. We have managed this through pricing actions and a targeted one-time increase in advertising and promotion to kick-start growth in shampoo and almond oil categories, and digital services. Thanks to our cost management initiatives and improved trade-spend efficiency, we expect advertising and promotion expenditure growth to settle into the teens by next year.
Is Saffola prioritising profitability and premiumisation over volume growth?
Saffola is actively participating in and aggressively growing the cold-pressed oils category. We are focusing all our investments on growing the premium end of the segment. We are also selectively avoiding aggressive growth in low-margin areas, taking strategic calls on pricing and volumes at the lower end of the segment.
Is quick commerce creating new demand or shifting traditional retail sales?
At Marico, we look at quick commerce as a driver of innovation and premiumisation. Our quick-commerce growth has been very good, while we believe that each channel has a role to play. Similarly, we have a different pack-price architecture for each of the channels because shopper intent and behaviours are different in each channel.
Is festive gifting emerging as a growth driver for digital brands?
We are noticing that gifting is a trend doing well for some of our brands, especially Beardo, 4700BC, Just Herbs, and True Elements. We have curated some interesting gift hampers under these brands for festive occasions, and this is one of our big drivers of growth.
Published on November 3, 2026
