Marico targets US$2.3B revenue by 2030, driven by innovation and digital expansion 

INDIA – Marico, a leading fast-moving consumer goods (FMCG) company, has set an ambitious target to double its revenue to Rs 20,000 crore (US$2.3B) by 2030.  

This follows the company’s milestone achievement of surpassing Rs 10,000 crore (US$1.2B) in revenue during the 2024–25 financial year. 

In the company’s latest annual report, Chairman Harsh Mariwala highlighted that the achievement reflects Marico’s strong brand equity and its consistent focus on innovation. 

“Even as we celebrate this significant accomplishment, we remain sharply focused on our next horizon, scaling towards Rs 20,000 crore (US$2.3B) in revenue by 2030,” said Mariwala. 

He noted that the growth roadmap is guided by innovation, strategic brand building, and operational efficiency. 

Managing Director and Chief Executive Officer Saugata Gupta stated that Marico is now shifting its focus beyond core product categories such as edible oils and hair care. The company is aiming to build consumer-centric portfolios aligned with evolving aspirations of a diverse demographic. 

The company’s food business, particularly under the Saffola brand, has been a key growth driver. The segment includes products such as oats, honey, noodles, peanut butter, mayonnaise, and ready-to-eat snacks. This category recorded revenue of over Rs 900 crore (US$104.7M) in FY25, a fivefold increase from FY20.  

Gupta expressed confidence that this portfolio could grow eightfold from FY20 levels, supported by sustained growth above 25% in the medium term. 

Marico’s digital-first and premium personal care brands—Beardo, Just Herbs, and Plix—also delivered strong performance.

By the end of FY25, the digital-first portfolio achieved an annualised revenue run-rate of Rs 750 crore (US$87.2M). The company anticipates this figure will reach 2.5 times the FY24 exit run-rate by FY27. 

Together, the foods and premium personal care segments contributed 22% to Marico’s India business in FY25, with a combined annual run-rate of approximately Rs 2,000 crore (US$232.6M). This share is projected to rise to around 25% by FY27. 

The company has also expanded its gross margins by approximately 1,000 basis points over FY24 and FY25. As newer categories continue to scale, Marico expects additional margin expansion due to their higher profitability compared to legacy product lines. 

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