Marico’s 38th AGM: 5 Key Takeaways on FY26, Growth and Vision 2030 

Marico Limited convened its 38th Annual General Meeting (AGM) through video conferencing in line with applicable provisions of the Companies Act and SEBI Listing Regulations. Chairman Harsh Mariwala presided over the meeting, with all directors and key managerial personnel present. Here are five things to know from the proceedings.

1. Double-Digit FY26 Growth
   
   Marico’s consolidated FY26 revenue from operations rose to INR 13,611 crore from INR 10,831 crore, while net profit grew to INR 1,813 crore from INR 1,658 crore. Q4 volume growth came in at 9 per cent, exceeding analyst estimates of 7 per cent. The board had earlier recommended a final dividend of INR 4 per equity share for FY26, with July 30, 2026, fixed as the record date and payment due by September 5, 2026.
   
2. Vision 2030 Takes Centre Stage
   
   The Chairman apprised members on the theme of the company’s eighth Integrated Annual Report, ‘Advancing towards Vision 2030’ and provided an overview of Marico’s strategic imperatives and FY26 performance. Mariwala said Marico will strengthen its growth engines, deepen innovation capabilities, and accelerate its sustainability agenda while pursuing its Vision 2030 aspirations.
   
   He added that despite persisting macroeconomic and geopolitical uncertainties, the company enters the new year with confidence, supported by a resilient business model, strong brands, and an agile organisation.
   
3. Target by 2030
   
   Marico aims to become a INR 20,000 crore company by 2030, effectively doubling its revenue over five yeaINR Gupta said the company has nearly doubled its Total Addressable Market since FY22 and plans to expand it further to 3x by FY30 through sharper portfolio choices, accelerated premiumisation, and sustained investment in digital and technology capabilities. At a consolidated level, Marico aspires to deliver double-digit revenue growth alongside mid-teens EBITDA CAGR.
   
4. Foods, Digital Brands and AI in Focus
   
   Gupta briefed members on the company’s operational performance during the year, its strategy and outlook, demand trends in the FMCG sector, double-digit consolidated revenue and profit growth, Project SETU, the outlook for foods and premium personal care businesses, international business, and its emphasis on innovation, digital transformation, AI, and data. Marico’s foods business crossed the INR 1,000 crore revenue milestone in FY26, with the company planning to expand this portfolio to 15 times its FY20 revenue by FY30.
   
   Gupta also noted that Beardo and Plix have turned profitable, with the total digital-first portfolio expected to achieve teens EBITDA margin by FY30. Separately, the board approved five strategic acquisitions during FY26, including stakes in Plix, True Elements, Just Herbs, 4700BC, and Cosmix, as well as the appointment of Girish Paranjpe as an Independent Director for a five-year term from June 2026.
   
5. Shareholders Approve Key Resolutions
   
   Members approved the re-appointment of Rishabh Mariwala as director, who retired by rotation and offered himself for re-appointment, along with the ratification of remuneration for Cost Auditors Ashwin Solanki & Associates.
   
   The Chairman stated that the reports from the Statutory Auditors and Secretarial Auditor did not contain any qualifications, observations, or remarks with an adverse effect on the company’s functioning. Following the meeting, the Scrutinizer confirmed that all resolutions listed in the AGM notice were passed with the requisite majority.