Marico is likely to benefit from lower raw material costs, which could enhance its margins and lead to earnings upgrades in Q1 FY27.

Marico's stronger-than-expected quarterly update has reinforced confidence in the consumption story, with healthy volume growth and a positive outlook for the broader FMCG sector, according to Sabharwal.

Nuvama has reiterated its bullish stance on Marico, driven by robust business momentum, improving profitability, and sustained demand.

Marico has reported one of its strongest volume performances in recent quarters, with expectations of continued FMCG recovery due to falling copra prices potentially boosting margins.

Marico's strong performance could signal a broader recovery in consumer demand.

Marico expects consolidated first-quarter revenue to grow in the low-twenties percentage range, driven by strong performance across its core, digital, and international businesses, with double-digit volume growth in its India business and strong operating profit anticipated due to lower copra prices despite increased advertising spending.

Anand Rathi Research has identified Marico as one of its preferred large-cap picks, expecting the company to benefit from steady revenue growth driven by premiumisation and price-led growth in the FMCG sector.

Nomura projects Marico to deliver sales growth of 8.5 year-on-year, with gradual improvement in Parachute volumes, although EBITDA growth is expected to be limited to around 19 year-on-year due to increased advertising spending.