MARICO Q2 FY27: TARGETS ₹15,000+ CR FY27 REVENUE & MID-20% EBITDA GROWTH; ₹20,000+ CR REVENUE VISION BY FY30, PAT UP 31% YOY

• FY27 Revenue Guidance: Management expects teens revenue growth and consolidated revenue exceeding ₹15,000 Cr during FY27 • FY27 EBITDA Guidance: Targets mid-twenties EBITDA growth, supported by volume expansion, improving product mix and operating leverage • FY27 Volume Guidance: Expects double-digit domestic volume growth and mid-teens constant currency growth in international business • FY30 Revenue Target: Management aims to achieve ₹20,000+ Cr consolidated revenue by FY30, with double-digit revenue CAGR • FY30 EBITDA Target: Aspires to deliver mid-teens EBITDA CAGR, supported by premiumisation and profitable scaling of new businesses • Margin Performance: EBITDA margin expanded to 18.2% from 16.2% YoY but declined from 20.7% QoQ, while gross margin improved approximately 600 bps YoY • Domestic Business: Revenue increased 10% YoY to ₹2,916 Cr, supported by 10% underlying volume growth and broad-based market share gains • Parachute Coconut Oil: Volumes surged 13% YoY, highest growth in 22 quarters, while market share increased to 60% • Value-Added Hair Oils: Revenue grew 21% YoY, with market share increasing 80 bps, supported by premiumisation and distribution expansion • Foods Business: Revenue surged 45% YoY, crossing ₹1,500 Cr annualised revenue run-rate, supported by Saffola Foods and acquired brands • Premium Personal Care: Annualised revenue run-rate crossed ₹500 Cr, while digital-first businesses reached approximately ₹1,150 Cr • FY27 Digital Business Target: Expects digital-first premium personal care businesses to achieve double-digit EBITDA margin by FY27-end, expanding to teens in the medium term • Premium Portfolio Expansion: Targets Foods and Premium Personal Care contribution of approximately 27% of India revenue by FY27-end and 33% by FY30 • FY30 Portfolio Strategy: Aims to increase premium and digital categories to 50% of the overall portfolio from 37% in FY26 • International Business: Revenue increased 23% YoY in INR terms, with constant currency growth of 13%; Vietnam grew 22%, MENA 15%, South Africa 15% and Bangladesh 5% • International Expansion: Targets 20%+ revenue CAGR in international markets excluding Bangladesh, with premium categories contributing approximately 40% of international revenue by FY30 • Distribution Expansion: Project SETU 2.0 will focus on AI-enabled selling, deeper rural penetration and expansion of Foods and Premium Personal Care across general trade • Distribution Targets: Direct distribution reach scaled to over 1.5x FY24 levels, while rural stockist penetration increased approximately 2x by the FY27 exit target • H1 Performance: Revenue increased 18% YoY to ₹7,854 Cr, EBITDA grew 26% to ₹1,528 Cr and PAT increased 28% to ₹1,180 Cr • Cost Management: Softer copra prices and the MarVal cost optimisation programme expected to support profitability, although crude-linked and vegetable oil inflation remain risks • Future Growth Plans: Focused on core brand growth, premiumisation, scaling digital-first brands, international expansion, AI-driven distribution and improving profitability

MARICO LIMITED

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