Marico Limited — Interim / Quarterly Report 2021

Apr 5, 2021

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April 5, 2021

The Secretary, The Manager, Listing Department, Listing Department, BSE Limited, The National Stock Exchange of India Limited, 1[st] Floor, Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1 Block G, Dalal Street, Bandra Kurla Complex, Bandra (East), Mumbai – 400001 Mumbai – 400051 Scrip Code: 531642 Scrip Symbol: MARICO

Subject: Quarterly Update – Q4 FY 2020-21

Dear Sir/Madam,

Please find enclosed an update on the operating performance and demand trends witnessed during the quarter ended March 31, 2021. The same will also be made available on the website of the Company shortly.

This will be followed by a detailed Information Update once the Board approves the audited consolidated and standalone financial results for the quarter and financial year ended March 31, 2021.

Thank you.

Yours faithfully,

For Marico Limited

HEMANG Digitally signed by HEMANGI I YATEEN YATEEN GHAG Date: GHAG 2021.04.05 14:22:39 +05'30'

Hemangi Ghag

Company Secretary & Compliance Officer

Encl.: As above

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Quarterly Update: Q4 FY21

This update seeks to provide an overall summary of the operating performance and demand trends witnessed in the quarter ended 31[st] March 2021. A detailed Information Update will follow this once the Board approves the financial results for Q4 FY21.

In the last quarter of the fiscal year, the sector continued to exhibit improving demand trends as quarterly economic growth has moved into positive territory and the COVID-19 vaccination rollout has gathered pace. However, as we keep a watchful eye on the evolving situation post the current COVID surge, the Company is adequately prepared to tackle any disruptions in the business environment on account of the same.

In the given context, the Company also witnessed healthy momentum building across its key portfolios. General Trade put up a strong show led by rural growth. E-Commerce continued to gain salience. Modern Trade was affected by the high base on account of the pre-lockdown pantry loading in March last year, but has been in recovery mode. CSD rebounded to post healthy growth.

The India business delivered a very strong double-digit volume growth , albeit on a low but relatively stronger base when compared to key peers in the sector. A marginal correction of the historical revenue skew in Q4 and Q1 also played a part in the optical growth. Revenue growth in Q4 was even higher than volume growth due to pricing interventions in key portfolios to partially alleviate the significant input cost push during the period. Parachute Coconut Oil led from the front, posting stellar volume growth. Saffola Edible Oils grew in double digits for the sixth quarter in a row, despite a very high base. Value Added Hair Oils firmly moved along a sustainably recovering trajectory with high double-digit volume growth in the quarter. The Foods portfolio more than doubled in size with a strong performance in the Oats franchise and aggressive innovations through this year. While select franchises of Premium Personal Care continued to trend positively, the overall portfolio was still muted.

The International business, too, posted strong double-digit constant currency growth on the back of recovery across markets.

As operating margin is likely to dip significantly owing to the severe input cost pressure, the Company expects to deliver low double-digit bottomline growth in the quarter.

While the input cost environment has turned challenging in the short term, the Company expects these trends to be transient and correct from Q2 next year. Notwithstanding the quarterly variations in volume growth/margins over the last 15 months, the Company maintains its aspiration of delivering sustainable and profitable volume-led growth over the medium term, on the back of the strengthening brand equity of its core franchises and progressively driving and scaling up new engines of growth.

About Marico:

Marico (BSE: 531642, NSE: “MARICO”) is one of India’s leading consumer products companies in the global beauty and wellness space. During FY 2019-20, Marico recorded a turnover of INR 73.1 billion (USD 1.03 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, Saffola FITTIFY Gourmet, Saffola ImmuniVeda, Saffola Arogyam, Saffola Mealmaker, Hair & Care, Parachute Advansed, Nihar Naturals, Mediker, Kaya Youth O2, Coco Soul, Revive, Set Wet, Livon, Veggie Clean, KeepSafe, Travel Protect, House Protect and Beardo. The International consumer products portfolio contributes to about 23% of the Group’s revenue, with brands like Parachute, Parachute Advansed, HairCode, Fiancée, Caivil, Hercules, Black Chic, Code 10, Ingwe, X-Men, Mediker SafeLife, Thuan Phat and Isoplus.

Marico Limited

Reg Office: 7[th] floor, Grande Palladium, 175, CST Road, Kalina, Santacruz (East), Mumbai - 400 098 Tel: (91-22) 6648 0480 Fax: (91-22) 2650 0159 Website: www.marico.com E-mail: investor@marico.com

CIN: L15140MH1988PLC049208

Websites:

www.marico.com, www.maricobd.com, www.maricoinnovationfoundation.org, www.parachuteadvansed.com, www.niharnaturals.com , www.saffola.in , www.saffolafittify.com , www.saffolalife.com, www.cocosoul.in, www.setwet.com, www.livonhairgain.com, www.livonilovemyhair.com, www.hairsutras.com, www.fitfoodie.in, www.indiaparenting.com/biooil/, www.getslimtherightway.com, www.truerootslab.com , www.pblskin.com, https://stores.saffola.in/