Marico targets Rs 20,000 crore revenue by 2030

New Delhi:  FMCG company Marico plans to double its revenue to Rs 20,000 crore by 2030, according to its Chairman Harsh Mariwala. The company crossed the Rs 10,000-crore revenue mark in the 2024–25 financial year and is now preparing for its next phase of growth, according to a report by PTI.

“Even as we celebrate this significant accomplishment, we remain sharply focused on our next horizon, scaling towards Rs 20,000 crore in revenue by 2030, guided by a clear roadmap rooted in innovation, purposeful brand building and operational excellence,” Mariwala said in the company’s latest annual report.

Mariwala described the revenue milestone as a reflection of Marico’s brand strength and innovation, which he called a “vital lever” in its growth strategy.

According to the report, Marico is shifting its focus beyond its core edible oils and hair care products. Managing Director and Chief Executive Officer Saugata Gupta said the company aims to build portfolios centred around evolving consumer aspirations.

“Marico’s overarching objective is to build and strengthen consumer centric portfolios to cater for the evolving aspirations of a diverse and dynamic demographic,” Gupta said.

The company has also increased investments in emerging and digital-first businesses, which are contributing more to both revenue and profitability.

“With this strategic framework in place, we aspire to be a globally admired digital FMCG company, while reinforcing the competitive moat of our scaled efficiency-led core businesses,” said Gupta.

The company’s foods business under the Saffola brand, which includes oats, honey, noodles, peanut butter, mayonnaise, and ready-to-eat snacks, recorded revenue of over Rs 900 crore in FY25, marking a fivefold increase from FY20.

“We remain confident of sustaining over 25% growth over the medium term, which would take the business to approximately 8x its FY20 scale, as we continue to enhance profitability within the category,” Gupta noted.

Marico has reportedly expanded its gross margins by around 1,000 basis points over FY24 and FY25 and anticipates gradual margin expansion as the business scales.

Premium personal care brands such as Beardo, Just Herbs, and Plix also maintained strong growth momentum. The digital-first portfolio reached an annualised revenue run-rate of Rs 750 crore by the end of FY25.

“We expect this figure to reach 2.5x of the FY24 exit run-rate by FY27,” Gupta said.

The combined contribution of foods and premium personal care to Marico’s India business stood at 22 per cent in FY25, with an annual run-rate of approximately Rs 2,000 crore. The company expects this share to rise to around 25% by FY27.

“These new businesses continue to deliver higher gross margins compared to our core categories, thereby bearing the potential for margin accretion as they scale further,” Gupta added.