Mumbai-based Marico is positioning itself at an inflection point, aiming to transform from a legacy FMCG player into a scaled, profitable, digital-first consumer powerhouse, Managing Director & CEO Saugata Gupta said during the company’s earnings call.
Gupta said the Indian multinational consumer goods major’s strategy rests on five pillars — evidence-based acquisitions, profitable scale-up through operational discipline, synergy acceleration, prudent capital allocation and a repeatable growth playbook.
Marico is building what it calls a “digital chessboard” spanning digital foods, digital personal care and global digital brands.
In foods, the portfolio ranges from Saffola’s health positioning to clean-label brand True Elements and premium snacking brand 4700BC, which gives Marico entry into the ₹24,000-crore western snacking market. The company now plans to scale 4700BC beyond popcorn into adjacent categories such as nachos, pop chips and fox nuts, building a broader premium snacking franchise, drawing inspiration from successful global snack brands in developed markets.
Functional nutrition brands Cosmix and Plix further strengthen its play in wellness and plant-based nutrition. Cosmix, with an annual run rate of ₹100 crore and high-teen EBITDA margins, targets India’s protein-deficient population.
In personal care, Marico is driving premiumisation through Beardo in male grooming, Plix in plant-based beauty, Kaya in dermatologist-backed solutions and Just Herbs in Ayurveda-inspired beauty.
Internationally, the company plans to replicate this model in high-growth markets such as Vietnam and the Middle East. In Vietnam, Candid — part of the Skinetiq portfolio — is scaling rapidly in science-led skincare with mid-20s EBITDA margins. Marico has also launched Astroman and Lashe in Vietnam to tap early-stage D2C opportunities. In the Middle East, markets such as the UAE and Saudi Arabia are being targeted for digital beauty and grooming expansion.
Gupta said Marico aims to grow revenues of its digital acquisitions 3x to 3.5x by FY30. Beardo has scaled fivefold since its acquisition in 2020, while Plix has grown sixfold in two years and is expected to achieve double-digit margins within 12–15 months.
Marico expects foods revenue to reach nine times FY20 levels next year and 15 times by FY30. Digital-first personal care is projected to grow fivefold over FY24 levels, with portfolio EBITDA margins in the teens by FY30. New businesses are expected to contribute about 33% of India revenues by FY30, while global digital brands are targeted to clock ₹4,000 crore in revenue.
Gupta said Marico’s acquisition strategy focuses on product-market fit, scalable brands with ₹100–150 crore revenue base, healthy unit economics and founder-driven businesses, emphasising disciplined deal-making and avoiding inflated valuations.
“Marico is not just participating in the digital consumer revolution; we are shaping it,” Gupta said, expressing confidence in delivering sustainable, profitable growth through digital-first and globally scalable brands.