Marico's acquired brands generate ₹1,552 crore in FY26

Fast-moving consumer goods (FMCG) major Marico Ltd has assembled a sizeable portfolio of premium and digital brands through acquisitions over the past few years.

Detailed subsidiary financials released with the Parachute-maker's annual report show the acquired businesses—Beardo, 4700BC, Cosmix, True Elements and Plix—generated a combined ₹1,552 crore in FY26 revenue. Marico reported consolidated revenue of ₹13,611 crore for the year. Profitability, however, remained uneven across the portfolio.

Nutrition emerged as the standout category among the acquired businesses.

Plix, the plant-based nutrition brand operated by Satiya Nutraceuticals, almost doubled its revenue to ₹864 crore in FY26 from ₹433 crore a year earlier. The surge helped drive a more than fivefold increase in profit to ₹25.9 crore from ₹4.77 crore. Marico first announced its investment in Plix in 2023, acquiring a 58% stake for ₹369 crore. It now owns 60% of the company.

Cosmix also posted strong growth ahead of its acquisition by Marico. The functional nutrition brand reported revenue of ₹91.5 crore in FY26, compared with ₹47.25 crore in FY25, while profit doubled to ₹12.4 crore. Marico acquired a 60% stake in the company for ₹226 crore in February 2026.

As Cosmix and 4700BC were acquired late in FY26, their performance is unlikely to have materially influenced Marico's FY26 consolidated financial results.

Premium snacks brand 4700BC, operated by Zea Maize Pvt. Ltd., increased revenue 21% to ₹120 crore in FY26, but its loss widened 48% to ₹24 crore. Marico bought about 94% of the company for ₹227 crore in January 2026.

HW Wellness Solutions Pvt. Ltd, which sells clean-label breakfast cereals, healthy snacks and millets under the True Elements brand, reported an 83% increase in loss to ₹43 crore in FY26, while revenue grew a modest 8%. Marico first invested in True Elements in 2022 and made it a wholly owned subsidiary in October 2025 after acquiring the remaining 46.02% stake for ₹138 crore.

Men's grooming brand Beardo remained profitable. Zed Lifestyle, which operates Beardo, reported revenue of ₹299 crore and a profit of ₹22 crore in FY26. Marico first invested in the brand in 2017.

Marico had also acquired Ayurvedic beauty brand Just Herbs in 2021. The business, operated by Apcos Naturals, has since been merged into the parent company.

From acquisitions to strategy

The subsidiary performance reflects a broader shift in Marico's portfolio strategy.

Marico reported revenue of ₹13,611 crore in FY26, up 26% from the previous year, while recurring consolidated net profit after tax and minority interest rose 11% year-on-year to ₹1,762 crore. Premium and digital brands contributed 37% of revenue in FY26, up from 27% in FY20. The company aims to raise that share to 50% by FY30.

Marico is targeting more than ₹15,000 crore in revenue in FY27 and, under its "Vision 2030" strategy, aims to reach ₹20,000 crore in revenue by 2030.

Marico has accelerated acquisitions in recent years to sharpen its portfolio, adopting what it calls a "fewer, bigger, bolder and faster" approach while absorbing capabilities from younger consumer brands.

“Data analytics, AI-led insights, and enhanced consumer engagement platforms are increasingly reshaping how we build brands, deepen personalisation and improve speed-to-market,” chairman Harsh Mariwala said in the annual report.

Different yardsticks

Marico's Q4 investor presentation said its digital-first portfolio, including Beardo, Just Herbs, Plix and Kaya, crossed ₹1,100 crore in annualized revenue run rate (ARR) in FY26.

“Marico’s digital-first portfolio is expected to achieve double-digit Ebitda margins by FY27 end, which should expand further to the teens by FY30,” analysts at Motilal Oswal Financial Services said in a 7 July report.

On Thursday, shares of the company closed 2.43% higher on the National Stock Exchange at ₹860.55, compared with a 0.34% gain in the benchmark Nifty 50.

Note: A previous version of this story incorrectly stated that Marico Ltd made ₹2,375 crore in revenue from operations from its newly acquired brands in FY26. The correct figure is ₹1,552 crore. The figures for Marico's latest acquisition, Cosmix, were also reported incorrectly. The brand's revenue from operations was ₹91.5 crore in FY26 and ₹47.25 crore in FY25; its profit after tax for FY26 was ₹12.4 crore. We regret the errors.