The CEO of Marico, Saugata Gupta, stated during the company's 36th Annual General Meeting (AGM) that the company had solid domestic business in the fiscal year 2024, with modern trade and ecommerce accounting for 30 per cent of the Indian industry.
According to Chairman Harsh Mariwala, the company will quickly transform into Marico 3.0 with the continuous support of the 4Ds (diversification, distribution, digital, and diversity).
In FY27, Marico wants to double its current size and increase its food business at a compound annual growth rate of 20–25 per cent.
The company's financials show that the premium personal care portfolio had strong growth, with the digital-first portfolio leading the way with an exit ARR of Rs 450 crore in FY24.
According to the company's financials, the premium personal care portfolio witnessed healthy momentum, led by the digital-first portfolio reaching an exit ARR of Rs 450 crore in FY24.
"We will continue to aggressively diversify the portfolio through the scale-up of Foods and Premium Personal Care portfolios while improving profitability parameters in line with our medium-term strategic priorities. Consequently, we expect the domestic revenue share of the Foods and Premium Personal Care portfolios to expand from ~20 per cent currently to 25 per cent by FY27," said Gupta.
On the implementation of generative AI technology, Gupta said investment in new-age technologies has led to "cost optimisation and greater agility in responding to market dynamics, improving consumer insight, efficient workflows, faster turnarounds, and greater employee engagement".
Gupta also mentioned that the ecommerce business contributed to 11-12 per cent of Marico's domestic business, and exuded confidence that Marico will double its business over the next few years.
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