Marico Boosts Stake in Plix Parent to 84%, Reports Strong Q2 Growth

Marico Limited has increased its ownership in Satiya Nutraceuticals Private Limited, the company behind the plant-based brand The Plant Fix – Plix, raising its stake to 84.09% on a fully diluted basis. This follows the acquisition of an additional 24.09% share from the founders and other shareholders, as disclosed in an exchange filing.

The transaction, completed on October 5, 2026, involved purchasing the stake in tranches in accordance with previously agreed definitive agreements. Marico initially held a 60% interest in Satiya Nutraceuticals, and this latest acquisition has pushed its total holding to 84.09%. The current tranche was acquired for Rs 1,012.03 crore, bringing Marico's total investment in the company to Rs 1,392.07 crore.

Under the terms of the agreement, the remaining 14.09% stake, still held by the founder and other shareholders, is set to be purchased by July 2027. This portion will involve a base consideration of up to Rs 592 crore, with additional payments contingent on meeting specific milestones outlined in the definitive agreements.

Founded in 2020 and headquartered in Mumbai, Satiya Nutraceuticals operates in the growing health and wellness sector through its brand The Plant Fix – Plix, which offers plant-based nutrition and personal care products. Marico’s increased investment is aimed at expanding its footprint in value-added foods and nutrition while reinforcing its position in the personal care and wellness categories, both experiencing rising consumer demand.

Alongside this announcement, Marico shared its financial update for the second quarter ending September 30, 2026. The company noted that domestic demand remained strong despite a volatile business environment. Management expressed confidence about consumption trends while keeping a close eye on inflationary pressures.

The India business segment continued to deliver positive results, with volume growth reaching double digits. Parachute Coconut Oil, a flagship product, showed further acceleration, achieving early-teens volume growth. This performance highlights the brand’s strong consumer loyalty and supply chain advantages.

Meanwhile, Saffola Oils posted mid-single-digit growth driven by price increases, though volumes declined as the company prioritized profitability and rationalized supply for some variants.

Value Added Hair Oils marked its sixth consecutive quarter of robust expansion, registering volume increases in the twenties. The brand’s success stems from investments in mid and premium segments, expanded direct reach via Project SETU, and strong growth in the Almond category.

The Foods and Premium Personal Care portfolio, including digital-first brands and shampoos, maintained steady growth, supporting Marico’s broader diversification strategy.

International operations also performed well, delivering constant-currency growth in the teens. Markets such as Vietnam, the Middle East, and South Africa contributed strongly, while Bangladesh showed slight sequential improvement despite facing elevated inflation and a challenging base.

Marico expects its consolidated revenue to grow in double digits. The company attributes this outlook to strong showings across its core businesses, digital channels, and international markets. Management believes the results demonstrate the success of its strategic focus and disciplined execution.

Cost pressures remain a factor, with crude-linked derivatives becoming more expensive, although copra prices have stayed steady at about 35% below recent peaks. Marico anticipates gross margins to improve year-on-year, supported by favorable product mix and cost benefits from copra pricing.

Investments in advertising and sales promotion have increased significantly to support brand building and growth initiatives. Despite these expenses, the company projects operating profit growth in the mid-twenties percentage range.

Having delivered solid results in the first half of the year, Marico is on track to exceed its near-term financial guidance. This performance is underpinned by the resilience of its core brands and the scaling of newer growth avenues. The company reaffirmed its goal to achieve sustainable, profitable volume-led growth over the medium term.

Shares of Marico closed 1.11% higher at Rs 790 on the National Stock Exchange on Monday, with intra-day trading ranging between Rs 780 and Rs 814.

Marico Limited is a major player in India’s consumer goods sector, focusing on beauty and wellness products. It continues to adapt its portfolio to evolving consumer preferences, including a growing interest in plant-based and value-added nutrition products, positioning itself for future opportunities in this expanding market segment.