Interim report
Page 1
Marico Information classification: Official November 14, 2025 The Secretary, Listing Department, BSE Limited, 1st Floor, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 531642 The Manager, Listing Department, National Stock Exchange of India Limited, 'Exchange Plaza', C-1 Block G, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051 Scrip Symbol: MARICO Sub.: Outcome of the Board meeting held on November 14, 2025 Dear Sir / Madam, This is to inform you that the Board of Directors (“ Board”) of the Company has at its meeting held today i.e. November 14, 2025, inter-alia, approved the un-audited standalone and consolidated financial results of Marico Limited for the quarter and half year ended September 30, 202 5 (“Financial Results”). The Financial Results and the Statutory Auditors’ Limited Review Reports thereon are enclosed. The Board meeting commenced at 10:45 a.m. and subsequent to approval of the above matters is likely to continue till its scheduled time up to 1:00 p.m. This intimation is also being made available on the Company’s website at: http://marico.com/india/investors/documentation/shareholder-info Kindly take the above on record and oblige. Thank you. For Marico Limited Vinay M A Company Secretary & Compliance Officer Encl.: As above
Page 2
B S R & Co. LLPChartered Accountants14th Floor, Central B Wing and North C WingNesco IT Park 4, Nesco CenterWestern Express HighwayGoregaon (East), Mumbai – 400 063, IndiaTelephone: +91 (22) 6257 1000Fax: +91 (22) 6257 1010 Registered Office:B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 201314th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063Page 1 of 4 Limited Review Report on unaudited consolidated financial results of Marico Limited for the quarter ended 30 September 2025 and year to date results for the period from 1 April 2025 to 30 September 2025 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amendedTo the Board of Directors of Marico Limited1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Marico Limited (hereinafter referred to as “the Parent”), and its subsidiaries (the Parent and its subsidiaries together referred to as “the Group”) for the quarter ended 30 September 2025 and year to date results for the period from 1 April 2025 to 30 September 2025 (“the Statement”) being submitted by the Parent pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").2. This Statement, which is the responsibility of the Parent’s management and approved by the Parent’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.4. The Statement includes the results of the entities mentioned in Annexure I to the Statement5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
Page 3
B S R & Co. LLPLimited Review Report (Continued)Marico Limited Page 2 of 4 6. We did not review the interim financial results of 4 Subsidiaries included in the Statement, whose interim financial results reflects total assets (before consolidation adjustments) of Rs. 1,674 crores as at 30 September 2025 and total revenues (before consolidation adjustments) of Rs. 867 crores and Rs. 1,556 crores, total net profit after tax (before consolidation adjustments) of Rs. 142 crores and Rs. 306 crores and total comprehensive income (before consolidation adjustments) of Rs. 142 crores and Rs 306 crores, for the quarter ended 30 September 2025 and for the period from 1 April 2025 to 30 September 2025 respectively, and cash inflows (net) (before consolidation adjustments) of Rs 48 crores for the period from 1 April 2025 to 30 September 2025. as considered in the Statement. These interim financial results have been reviewed by other auditors whose reports have been furnished to us by the Parent’s management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.Our conclusion is not modified in respect of this matter.7. The Statement includes the interim financial results of 14 Subsidiaries which have not been reviewed, whose interim financial results reflect total assets (before consolidation adjustments) of Rs. 605 crores as at 30 September 2025 and total revenues (before consolidation adjustments) of Rs. 375 crores and Rs. 707 crores, total net loss after tax (before consolidation adjustments) of Rs. 19 crores and Rs. 33 crores and total comprehensive loss (before consolidation adjustments) of Rs. 19 crores and Rs. 33 crores, for the quarter ended 30 September 2025 and for the period from 1 April 2025 to 30 September 2025 respectively, and cash inflows (net) (before consolidation adjustments) of Rs 8 crores for the period from 1 April 2025 to 30 September 2025. as considered in the Statement. According to the information and explanations given to us by the Parent’s management, these interim financial results are not material to the Group.Our conclusion is not modified in respect of this matter.For B S R & Co. LLPChartered AccountantsFirm’s Registration No.:101248W/W-100022Vijay MathurPartnerMumbaiMembership No.: 04647614 November 2025UDIN:25046476BMOWNL7338
Page 4
B S R & Co. LLPLimited Review Report (Continued)Marico Limited Page 3 of 4 Annexure IList of entities included in unaudited consolidated financial results.Sr. No Name of component Relationship1 Marico Limited Parent2 Marico Bangladesh Limited Subsidiary3Marico Middle East (FZE) (MME)`Wholly Owned Subsidiary4Marico Bangladesh Industries LimitedWholly Owned Subsidiary of MME (voluntary liquidated w.e.f 18 September 2025)5 Marico Malaysia Sdn. Bhd.Wholly Owned Subsidiary of MME6Egyptian American Investment and Industrial Development Company S.A.EWholly Owned Subsidiary of MME7MEL Consumer Care SAE (MELCC)Wholly Owned Subsidiary of MME8 Marico Gulf LLCWholly Owned Subsidiary of MME9Marico Egypt Industries CompanyWholly Owned Subsidiary of MELCC10Marico For Consumer Care Products SAEWholly Owned Subsidiary of MELCC11Marico South Africa Consumer Care (Pty) Limited (MSACC)Wholly Owned Subsidiary12Marico South Africa (Pty) LimitedWholly Owned Subsidiary of MSACC13Marico South East Asia Corporation (MSEA)Wholly Owned Subsidiary14 Marico Lanka (Private) Limited Wholly Owned Subsidiary
Page 5
B S R & Co. LLPLimited Review Report (Continued)Marico Limited Page 4 of 4 15 Zed Lifestyle Private Limited Wholly Owned Subsidiary16 Apcos Naturals Private LimitedWholly Owned Subsidiary (under voluntary liqudation)17HW Wellness Solutions Private LimitedSubsidiary18Satiya Nutraceuticals Private Limited (‘SNPL’)Subsidiary19 Juizo Advisory Private LimitedWholly Owned Subsidiary of SNPL20Cocosecrets Consumer Care LLCWholly Owned Subsidiary (w.e.f 14 October 2024)21Welfare of Mariconions Trust (WEOMA)Employee Welfare Trust
Page 6
Rs. in croreYear ended September 30, 2025(Un-audited) June 30,2025 (Un-audited)September 30, 2024(Un-audited)September 30, 2025(Un-audited)September 30, 2024(Un-audited)March 31, 2025 (Audited)1 Revenue from operations 3,482 3,259 2,664 6,741 5,307 10,831 2 Other income 49 56 82 105 119 208 3Total income (1 + 2) 3,531 3,315 2,746 6,846 5,426 11,039 4Expenses(a) Cost of materials consumed 1,910 1,184 1,149 3,094 2,256 4,572 (b) Purchase of stock-in-trade 542 317 256 859 463 960 (c) Changes in inventories of finished goods, work-in-progress and stock-in-trade(455) 229 (94) (226) (146) (144) (d) Employee benefits expense 218 220 213 438 416 831 (e) Finance cost 12 10 11 22 28 53 (f) Depreciation and amortisation expense 47 45 41 92 82 178 (g) Other expenses Advertisement and sales promotion345 299 290 644 530 1,128 Others362 355 328 717 640 1,345 Total expenses 2,981 2,659 2,194 5,640 4,269 8,923 5Profit before tax (3 - 4) 550 656 552 1,206 1,157 2,116 6Tax expenseCurrent tax148 157 117 305 252 480 Deferred tax charge / (credit)(30) (14) 2 (44) (2) (22) Tax expense for the period 118 143 119 261 250 458 7Net profit for the period (5 - 6) 432 513 433 945 907 1,658 8Other comprehensive income / (loss)A. (i) Items that will not be reclassified to profit or loss Remeasurements of post employment benefit obligations (3) 0 (0) (3) (0) (1) (ii) Income tax relating to items that will not be reclassified to profit or loss Remeasurements of post employment benefit obligations 1 0 0 1 0 0 B. (i) Items that will be reclassified to profit or loss Exchange differences on translation of foreign operations26 (13) 17 13 (43) (75) Change in fair value of hedging instruments(1) (1) 0 (2) 0 1 (ii) Income tax relating to items that will be reclassified to profit or loss Change in fair value of hedging instruments1 (0) (0) 1 0 (0) Other comprehensive income / (loss) 24 (14) 17 10 (42) (74) 9Total comprehensive income for the period (7+8)456 499 450 955 865 1,584 10Net profit attributable to:- Owners420 504 423 924 887 1,629 - Non-controlling interests12 9 10 21 20 29 11Other comprehensive income / (loss) attributable to:- Owners23 (14) 17 9 (37) (69) - Non-controlling interests1 0 - 1 (5) (5) 12Total comprehensive income attributable to:- Owners443 490 440 933 850 1,560 - Non-controlling interests13 9 10 22 15 24 13Paid-up equity share capital (Face value of Re. 1/- per share)130 129 129 130 129 129 14Other equity 3,846 15Earnings per share (of Re. 1 /- each) ( Not annualised)(a) Basic (in Rs.)3.24 3.90 3.26 7.14 6.86 12.59 (b) Diluted (in Rs.)3.24 3.89 3.26 7.13 6.85 12.56 See accompanying notes to the financial results MARICO LIMITEDSTATEMENT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2025Sr. No.ParticularsQuarter ended Half year ended #Marico Information classification: Official
Page 7
Rs. in croreParticulars As at September 30, 2025 (Un-audited) As at March 31, 2025 (Audited) ASSETSNon-current assetsProperty, plant and equipment734 710 Capital work-in-progress52 40 Right of use assets237 230 Investment property10 15 Goodwill862 857 Other intangible assets948 946 Financial assets(i) Investments138 215 (ii) Loans4 6 (iii) Other financial assets25 22 Deferred tax assets (net)84 57 Non current tax assets (net)108 108 Other non-current assets84 49 Total non-current assets 3,286 3,255 Current assetsInventories1,598 1,235 Financial assets(i) Investments1,256 1,375 (ii) Trade receivables1,666 1,271 (iii) Cash and cash equivalents 419 321 (iv) Bank balances other than (iii) above14 456 (v) Loans7 7 (vi) Other financial assets2 3 Current tax asset (net)1 2 Other current assets430 413 Total current assets 5,393 5,083 Total assets 8,679 8,338 EQUITY AND LIABILITIES EquityEquity share capital130 129 Other equityReserves and surplus4,063 3,997 Other reserves(142) (152) Share application money pending allotment0 1 Equity attributable to owners 4,052 3,975 Non-controlling interests154 291 Total equity 4,206 4,266 LIABILITIESNon-current liabilitiesFinancial liabilities(i) Lease liabilities124 124 (ii) Other financial liabilities1,252 1,211 Provisions1 1 Employee benefit obligations (net)30 27 Deferred tax liabilities (net)229 248 Total non-current liabilities 1,636 1,611 Current liabilitiesFinancial liabilities(i) Borrowings392 379 (ii) Lease liabilities59 51 (iii) Trade payablesTotal outstanding dues of micro enterprises and small enterprises152 89 Total outstanding dues of creditors other than micro enterprises and small enterprises1,740 1,274 (iv) Other financial liabilities49 231 Other current liabilities193 232 Provisions22 21 Employee benefit obligations (net)79 92 Current tax liabilities (net)151 92 Total current liabilities 2,837 2,461 Total liabilities 4,473 4,072 Total equity and liabilities 8,679 8,338 MARICO LIMITEDCONSOLIDATED BALANCE SHEET #Marico Information classification: Official
Page 8
September 30, 2025 (Un-audited) September 30, 2024 (Un-audited) ACASH FLOW FROM OPERATING ACTIVITIESPROFIT BEFORE INCOME TAX1,206 1,157 Adjustments for :Depreciation and amortisation expense92 82 Finance costs22 28 Interest income from financial assets(3) (39) (Gain) on disposal of property, plant and equipment and right of use asset (net)(2) (20) Net fair value changes in financial assets and profit on sale of investments(90) (31) Employees stock option charge16 22 Provision for doubtful debts1 0 36 43 Operating profit before working capital changes1,242 1,200 Change in operating assets and liabilities:(Increase) in inventories(363) (35) (Increase) in trade receivables(396) (229) (Increase) in other financials assets(6) (6) (Increase) / Decrease in other non-current assets(1) 2 (Increase) in other current assets(17) (269) Decrease / (Increase) in loans and other assets2 (1) Increase in provisions1 4 (Decrease) in employee benefit obligations(13) (11) (Decrease) in other current liabilities(39) (4) Increase / (Decrease) in trade payables528 (99) (Decrease) / Increase in other financial liabilities(9) 2 Changes in working capital(313) (646) Cash generated from operations929 554 Effect of exchange difference on translation of foreign currency17 (56) Income taxes paid (net of refunds)(245) (179) Net cash generated from operating activities (A) 701 319 BCASH FLOW FROM INVESTING ACTIVITIESPayment for property, plant and equipment and intangible assets(142) (108) Proceeds from sale of property, plant and equipment9 66 Purchase of non current investments- (46) Proceeds from sale of non current investments93 50 (Payment) for / proceeds from purchase / sale of current investments (net)192 (437) (Investment in) / Redemption of bank deposits (having original maturity more than 3 months) (net)434 285 Interest received14 36 Net cash (utilised in)/ generated from investing activities (B)600 (154) CCASH FLOW FROM FINANCING ACTIVITIESProceeds from issuance of share capital145 17 (Purchase)/ sale of investments by WEOMA trust (net)(126) 1 Borrowings (repaid) / taken (net)13 (45) Dividend paid to non controlling interest(57) (27) Acquisition of non controlling interest(219) (70) Interest paid(15) (32) Repayment of principal portion of lease liabilities(28) (15) Interest on lease liabilities(7) (6) Dividends paid to company's shareholders(908) - Net cash utilised in financing activities (C)(1,203) (177) DNET INCREASE/ (DECREASE) IN CASH & CASH EQUIVALENTS (A+B+C)98 (12) ECash and cash equivalents at the beginning of the financial year 321 228 F Cash and cash equivalents at the end of the year 419 216 MARICO LIMITEDCONSOLIDATED STATEMENT OF CASH FLOW Rs in crore Half year ended Particulars #Marico Information classification: Official
Page 9
Notes to the Marico Limited Consolidated financial results:1. The Consolidated unaudited financial results for the quarter and half year ended September 30, 2025Directors of Marico Limited ("the Company") at their meeting held on November 14, 2025 and are - http://www.marico.com and on the websites of BSE (www.bseindia.com) and NSE (www.nseindia.com). These results have been subjected to limited review by the statutory auditors.2. This statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable. 3. The Consolidated financial results for the quarter and half year ended September 30, 2025,comprise results of Marico Limited, its subsidiaries and step-down subsidiaries in India, Bangladesh, UAE, Egypt, South Africa, Malaysia, Sri Lanka, Vietnam and USA. All the aforesaid entities are collectively called 'Marico'.4. During the quarter ended June 30, 2025, the Company acquired 8.8% stake in Satiya on a fully diluted basis from the existing investors. 60% on a fully diluted basis.5. During the quarter ended September 30, 2025, the Company entered into a definitive agreement to acquire the balance 46.02% of equity capital to increase its aggregate stake in HW Wellness to 100%. As at September 30, 2025, the Company completed acquisition of aggregate 99.96% of equity capital in True Elements. Subsequently, the remaining 0.04% was acquired on October 17, 2025, thereby making True Elements a wholly owned subsidiary.
Page 10
6. In accordance with the Indian Accounting Standard - Ind AS 108, the Company has organized the business into two segments viz, India and International. Accordingly, the Company has reported its segmental results for these segments. (Rs. in crores) Place Mumbai Saugata GuptaDate: November 14, 2025 Managing Director & CEO
Page 11
Marico Information classification: Official About Marico: Marico (BSE: 531642, NSE: “MARICO”) is one of India’s leading consumer products companies operating in the global beauty and wellness categories. During FY24 -25, Marico recorded a turnover of ₹ 108.3 billion (USD 1.3 billion) through its products sold in India and chosen markets in Asia and Africa. Marico touches the lives of 1 out of every 3 Indians, through its portfolio of brands such as Parachute, Saffola, Hair & Care, Parachute Advansed, Nihar Naturals, Mediker, Pure Sense, Coco Soul, Revive, Set Wet, Livon, Beardo, Just Herbs, True Elements and Plix. The overseas consumer products portfolio contributes to about 25% of the Group’s revenue, with brands like Parachute, Parachute Advansed, HairCode, Fiancée, Purité de Prôvence, Ôliv, Caivil, Hercules, Black Chic, Code 10, Ingwe, X-Men, Thuan Phat and Isoplus. As part of Marico's Green Initiative, your Company wants to make its contribution to save the environment by sending its shareholders the Annual Report and other communication using the electronic medium. Therefore, Members holding shares in dematerialized form are requested to contact their respective Depository Participant to update their email address. Members can submit service requests in electronic mode through the website of the RTA using the weblink: https://web.in.mpms.mufg.com/helpdesk/Service_Request.html. Marico Limited Reg Office: 7th floor, Grande Palladium, 175, CST Road, Kalina, Santacruz (East), Mumbai 400 098 Tel: (91-22) 6648 0480
Page 12
B S R & Co. LLPChartered Accountants14th Floor, Central B Wing and North C WingNesco IT Park 4, Nesco CenterWestern Express HighwayGoregaon (East), Mumbai – 400 063, IndiaTelephone: +91 (22) 6257 1000Fax: +91 (22) 6257 1010 Registered Office:B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 201314th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063Page 1 of 1 Limited Review Report on unaudited standalone financial results of Marico Limited for the quarter ended 30 September 2025 and year to date results for the period from 1 April 2025 to 30 September 2025 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amendedTo the Board of Directors of Marico Limited1. We have reviewed the accompanying Statement of unaudited standalone financial results of Marico Limited (hereinafter referred to as “the Company”) for the quarter ended 30 September 2025 and year to date results for the period from 1 April 2025 to 30 September 2025 (“the Statement”) (in which are included interim financial information of its Employee Welfare Trust).2. This Statement, which is the responsibility of the Company’s management and approved by its Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”). Our responsibility is to issue a report on the Statement based on our review.3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.For B S R & Co. LLPChartered AccountantsFirm’s Registration No.:101248W/W-100022Vijay MathurPartnerMumbaiMembership No.: 04647614 November 2025UDIN:25046476BMOWNK5929
Page 13
Rs. in croreYear endedSeptember 30, 2025(Un-audited)June 30,2025 (Un-audited)September 30, 2024(Un-audited)September 30, 2025(Un-audited)September 30, 2024(Un-audited)March 31, 2025 (Audited)1 Revenue from operations 2,426 2,281 1,860 4,707 3,746 7,581 2 Other income 173 474 302 647 320 591 3Total income (1 + 2) 2,599 2,755 2,162 5,354 4,066 8,172 4Expenses(a) Cost of materials consumed 1,839 1,008 998 2,847 1,962 3,968 (b) Purchase of stock-in-trade 163 123 114 286 202 408 (c) Changes in inventories of finished goods, work-in-progress and stock-in-trade(413) 257 (80) (156) (122) (107) (d) Employee benefits expense 133 136 132 269 259 505 (e) Finance cost 6 5 7 11 12 23 (f) Depreciation and amortisation expense 32 30 28 62 56 123 (g) Other expenses - Advertisement and sales promotion 123 84 117 207 223 434 Others 225 224 234 449 449 924 Total expenses 2,108 1,867 1,550 3,975 3,041 6,278 5Profit before tax (3 - 4) 491 888 612 1,379 1,025 1,894 6Tax expenseCurrent tax110 119 77 229 165 320 Deferred tax charge /(credit)(18) (8) 6 (26) 20 33 Tax expense for the period92 111 83 203 185 353 7Net profit for the period (5 - 6)399 777 529 1,176 840 1,541 8Other comprehensive income / (loss)A. (i) Items that will not be reclassified to profit or loss Remeasurements of post employment benefit obligations(3) - (0) (3) (0) (0) (ii) Income tax relating to items that will not be reclassified to profit or loss Remeasurements of post employment benefit obligations1 - 0 1 0 0 B. (i) Items that will be reclassified to profit or loss Change in fair value of hedging instruments(1) (1) 0 (2) 0 1 (ii) Income tax relating to items that will be reclassified to profit or loss Change in fair value of hedging instruments1 (0) (0) 1 0 (0) Other comprehensive income / (loss) , net of tax(2) (1) (0) (3) 0 1 9Total comprehensive income for the period (7 + 8) 397 776 529 1,173 840 1,542 10Paid-up equity share capital (Face value of Re. 1/- per share)130 129 129 130 129 129 11 Other equity 4,634 12Earnings per share (of Re 1 /- each) ( Not annualised)(a) Basic (in Rs.) 3.08 6.01 4.10 9.09 6.50 11.91 (b) Diluted (in Rs.) 3.08 5.99 4.09 9.07 6.49 11.88 See accompanying notes to the financial results MARICO LIMITEDSTATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2025Sr. No.ParticularsQuarter ended Half year ended #Marico Information classification: Official
Page 14
Rs. in croreParticulars As at September 30, 2025 (Un-audited) As at March 31, 2025 (Audited)ASSETSNon-current assetsProperty, plant and equipment576 563 Capital work-in-progress46 33 Right of use assets152 156 Investment property9 15 Intangible assets36 36 Financial assets(i) Investments in subsidiaries1,392 1,105 (ii) Other investments138 215 (iii) Loans66 163 (iv) Other financial assets18 13 Deferred tax assets (net)16 - Non current tax assets (net)104 104 Other non-current assets74 42 Total non-current assets2,627 2,445 Current assetsInventories1,087 804 Financial assets(i) Investments1,244 1,367 (ii) Trade receivables1,208 935 (iii) Cash and cash equivalents 50 40 (iv) Bank balances other than (iii) above2 87 (v) Loans132 4 (vi) Other financial assets31 42 Current tax asset (net)1 1 Other current assets323 313 Total current assets4,078 3,593 Total assets6,705 6,038 EQUITY AND LIABILITIES EquityEquity share capital130 129 Other equityReserves and surplus4,932 4,632 Other reserves(1) 1 Share application money pending allotment0 1 Total equity attributable to owners5,061 4,763 LIABILITIESNon-current liabilitiesFinancial liabilities(i) Lease liabilities91 97 Employee benefit obligations (net)19 16 Deferred tax liabilities (Net)- 10 Total non-current liabilities110 123 Current liabilitiesFinancial liabilities(i) Borrowings72 139 (ii) Lease liabilities38 35 (iii) Trade payablesTotal outstanding dues of micro enterprises and small enterprises88 49 Total outstanding dues of creditors other than micro enterprises and small enterprises1,069 718 (iv) Other financial liabilities23 12 Other current liabilities114 125 Provisions19 12 Employee benefit obligations (net)50 53 Current tax liabilities (net)61 9 Total current liabilities1,534 1,152 Total liabilities1,644 1,275 Total equity and liabilities6,705 6,038 MARICO LIMITEDSTANDALONE BALANCE SHEET #Marico Information classification: Official
Page 15
September 30, 2025 (Un-audited) September 30, 2024 (Un-audited) ACASH FLOW FROM OPERATING ACTIVITIESPROFIT BEFORE INCOME TAX1,379 1,025 Adjustments for:Depreciation and amortization expense62 56 Finance costs11 12 Dividend income from subsidiaries(546) (231) Unrealised exchange (gain)/loss(4) - Interest income from financial assets(10) (8) (Gain) on disposal of property, plant and equipment and right of use asset (net)(2) (20) Net fair value changes in financial assets and profit on sale of investments(65) (31) Employees stock option charge15 20 Provision for doubtful debts- (0) (539) (202) Operating profit before working capital changes840 824 Change in operating assets and liabilities:(Increase) in inventories(283) (37) (Increase) in trade receivables(273) (163) Decrease in other financials assets5 37 Decrease in other non-current assets1 1 (Increase) in other current assets(10) (240) Decrease /(Increase) in loans and other assets1 (1) Increase in provisions6 2 (Decrease) in employee benefit obligations(3) (12) (Decrease) / Increase in other current liabilities(10) 7 Increase in trade payables390 4 Increase in other financial liabilities9 8 Changes in working capital (167) (394) Cash generated from operations673 429 Income taxes paid (net of refunds)(176) (132) Net cash generated from operating activities (A) 497 297 BCASH FLOW FROM INVESTING ACTIVITIESPayment for property, plant and equipment and intangible assets(105) (84) Proceeds from sale of property, plant and equipment9 66 Purchase of non current investments- (46) Proceeds from sale of non current investments93 50 (Payment) for / proceeds from purchase/ sale of current investments (net)172 (436) Investment in subsidiaries(287) (70) Loan given to subsidiaries(77) (11) Loan repaid by subsidiaries49 - (Investment in)/redemption of bank deposits (having original maturity more than 3 months) (net)76 6 Dividend received from subsidiaries546 231 Interest received23 8 Net cash (utilised in) / generated from in investing activities (B)499 (286) CCASH FLOW FROM FINANCING ACTIVITIESProceeds from issuance of share capital145 17 (Purchase)/ sale of investments by WEOMA trust (net)(126) 1 Borrowings (repaid) / taken (net)(67) (11) Interest paid on borrowings(7) (7) Repayment of principal portion of lease liabilities(18) (10) Interest paid on lease liabilities(5) (5) Dividends paid to company's shareholders(908) - Net cash utilised in financing activities (C)(986) (15) D NET INCREASE / (DECREASE) IN CASH & CASH EQUIVALENTS (A+B+C) 10 (4) ECash and cash equivalents at the beginning of the financial year40 28 FCash and cash equivalents at the end of the year50 24 Half year ended Rs. in crore MARICO LIMITEDSTANDALONE STATEMENT OF CASH FLOW Particulars #Marico Information classification: Official
Page 16
Marico Information classification: Official Notes to the Marico Limited Standalone financial results: 1. The Standalone unaudited financial results for the quarter and half year ended September 30, 2025of Marico Limited ("the Company") at their meeting held on November 14, 2025 and are available - http://www.marico.com and on the websites of BSE (www.bseindia.com) and NSE (www.nseindia.com). These results have been subjected to limited review by the statutory auditors. 2. This statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under section 133 of Companies Act, 2013 and other recognized accounting practices and policies to the extent applicable.3. In accordance with the Indian Accounting Standard - Ind AS 108, the Company has disclosedsegment results in consolidated financial results.4. During the quarter ended June 30, 2025, the Company acquired 8.8% stake in Satiya Nutraceuticals on a fully diluted basis from the existing investors. Consequently, the Plix now stands at 60% on a fully diluted basis.5. During the quarter ended September 30, 2025, the Company entered into a definitive agreement to acquire the balance 46.02% of equity capital to increase its aggregate stake in HW Wellness to 100%. As at September 30, 2025, the Company completed acquisition of aggregate 99.96% of equity capital in True Elements. Subsequently, the remaining 0.04% was acquired on October 17, 2025, thereby making True Elements a wholly owned subsidiary.Place Mumbai Saugata Gupta Date: November 14, 2025 Managing Director & CEO