Founded in 2013 by Chirag Gupta, 4700BC pioneered gourmet popcorn in India and has since built a strong presence through diverse snacking offerings across offline, online and institutional channels (including airlines, cinemas, etc.). Known for its bold flavors and contemporary brand language, 4700BC caters to the urban, premium consumer seeking indulgent yet modern snacking options. Over the years, the brand has evolved from a niche challenger into a recognized name within India’s organized snacking landscape. Going forward, 4700BC will focus on driving accelerated growth through new product launches across emerging snacking segments, strengthening its multi-channel distribution network, and building a differentiated premium brand anchored in innovation.

Saugata Gupta, MD and CEO, Marico Limited, said, “The investment in 4700BC aligns well with Marico’s ambition to participate in fast-growing food categories through distinctive, future-ready brands. We see immense potential in 4700BC as a premium snacking brand with deep consumer connect and proven execution. Together, we will tap the opportunity to leverage our existing scale in foods to broaden the brand’s presence across channels, while staying true to its consumer-first ethos and harnessing its top-notch innovation capabilities.”

Chirag Gupta, Founder, 4700BC, said, “We are delighted to partner with Marico. This marks a defining moment in the brand’s journey. While PVR INOX has played a pivotal role in building scale and credibility, Marico’s FMCG expertise will be instrumental as 4700BC enters its next chapter. With the strong backing and exciting new launches ahead, the focus for us remains on building one of India’s most loved premium snacking brands.”

Ajay Bijli, MD, PVR INOX Limited, said, “We recognized the potential in 4700BC at a very early stage and supported the brand through its formative years. From a niche gourmet popcorn offering, it has grown into a nationally recognized premium snacking brand. As it looks to scale further and broaden its ambition, the brand is well-positioned under the stewardship of a scaled FMCG leader like Marico. For PVR INOX, this transaction represents a natural culmination of our strategic role and enables us to monetize a non-core asset.”

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The company, which owns popular brands as Saffola, Parachute, and Livon, crossed the Rs. 10,000-crore revenue milestone in the last 2024-25 financial year.

Terming this as an achievement, Mariwala, in the latest annual report of the company, said it is a reflection of the strength of Marico’s brands and innovations, which are a vital lever in the pursuit of purposeful growth.

The company is now gearing up for the next phase of transformation, aiming to achieve the next Rs. 10,000 crore in revenues over the next five years. Even as we celebrate this significant accomplishment, we remain sharply focused on our next horizonscaling towards Rs. 20,000 crore in revenue by 2030 guided by a clear roadmap rooted in innovation, purposeful brand building and operational excellence, said Mariwala while addressing the shareholders. Marico, which was earlier known for edible oils and hair care products, has progressively expanded beyond its traditional strongholds.

Now Marico’s overarching objective is to build and strengthen consumer centric portfolios to cater for the evolving aspirations of a diverse and dynamic demographic, said its Managing Director & Chief Executive Officer, Saugata Gupta. Marico is scaling up its profitable emerging businesses, where it has made strategic investments. It has cultivated a vibrant new-age digital-first portfolio that is progressively stepping up its contribution to both the topline and bottom line each year, said Gupta. With this strategic framework in place, we aspire to be a globally admired digital FMCG company, while reinforcing the competitive moat of our scaled efficiency-led core businesses, he said.

Marico’s foods business, which is primarily under the Saffola brand, and sells oats, honey, noodles, peanut butter, mayonnaise, and ready-to-eat healthy snacks, has surpassed the ₹900 crore mark in FY’25, reaching five times of the FY’20 scale.

“We remain confident of sustaining over 25 per cent growth over the medium term, which would take the business to approximately 8x its FY20 scale, as we continue to enhance profitability within the category,” said Gupta. Marico has structurally expanded gross margins by ~1,000 bps over FY’24 and FY’25, on a cumulative basis, and expects gradual margin expansion as the business scales in the medium term, he said.

Marico’s premium personal care, which includes brands like Beardo, Just Herbs etc, and the personal care portfolio of Plix, also maintained strong momentum in FY’25, driven by the scale-up of our digital-first brands.

Its digital-first portfolio exited FY25 with an annualised revenue run-rate of Rs. 750 crore and now Marico expect this figure to reach 2.5x of the FY24 exit run-rate by FY27, said Gupta.

The composite revenue share of Foods and Premium Personal Care in Marico’s India business stood at 22 per cent in FY’25, with a combined ARR of ~ Rs. 2,000 Crore.We will continue to aggressively diversify the portfolio through these portfolios in line with our medium-term strategic priorities and expect these portfolios to expand to ~25 per cent of domestic revenue by FY27, said Gupta.

These new businesses continue to deliver higher gross margins compared to our core categories, thereby bearing the potential for margin accretion as they scale further.

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Gupta, who has been instrumental in Marico’s growth since joining in 2004, continues to lead the company through significant milestones in brand strengthening, international expansion, and innovation.

The announcement follows Marico’s robust financial performance for Q4 and FY25. The company posted a 20% YoY increase in Q4 Revenue from Operations to Rs. 2,730 crore, and full-year revenue of Rs. 10,831 crore, marking a 12% YoY growth and crossing the Rs. 10,000 crore milestone for the first time. Key drivers included 7% India volume growth in Q4, 16% international constant currency growth, and strong momentum in Foods and Premium Personal Care segments with a combined ARR of Rs. 2,000 crore.

Marico’s net profit rose 10% YoY in FY25, reflecting continued strategic execution and operational resilience as it gears up for its next growth phase under Gupta’s leadership.

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The domestic business maintained its improving volume growth trajectory on the back of healthy trends across most of the core and new franchises. Offtakes remained strong as more than 80% of the business either gained or sustained market share and penetration both on a MAT basis. Domestic revenue was ₹1,979 crore, up 8% YoY, as volume growth was supplemented by price hikes in the Coconut Oil portfolio and favorable reversal in the pricing cycle in Saffola Oils. Alternate channels continued to gain salience vis-à-vis General Trade. 

After the successful initiation in the preceding quarter, Project SETU was extended to 4 more states, taking the tally to 10 states. The execution at the state level has progressed as planned, supported by robust governance mechanisms to ensure sustainable outlet expansion. 

Gross margin expanded by 30 bps YoY, as the impact of higher input costs in the core portfolios of the domestic business was more than offset by healthy margin improvements in the digital-first franchises in India and international businesses. A&P spends was up 8% YoY, as the Company sustained investments towards strategic brand building. EBITDA margin stood at 19.6%, down 50 bps YoY and EBITDA grew by 5% YoY. Reported PAT was up 20% due to one-off gains, on the sale of fixed assets and favorable settlement of a past litigative claim (both classified under ‘Other Income’), amounting to ₹42 cr. PAT (excluding one-offs) was up 10%.

The encouraging demand trends in the first half of the year holds promise of an improving trajectory in the second half. Amidst the backdrop of improving macro-indicators, we expect a gradual uptick in the growth of our core categories in the domestic business through the ongoing initiatives to enhance the profitability of our General Trade (GT) channel partners and transformative direct reach expansion under Project SETU. 

Saugata Gupta, MD & CEO, commented, “We closed the first half of the fiscal on a fairly positive note with the growth trajectory of the business heading in the right direction. We have delivered healthy volume-led revenue growth in the domestic business buoyed by sustained market share and penetration gains across core portfolios. Foods and Digital-first brands continued to ramp up impressively and reinforce the diversification agenda. The international business has exhibited remarkable strength despite challenging operating conditions in select markets. We will take calibrated pricing actions in response to the rising trend in input costs, while focusing on achieving our stated growth aspirations for the year.”

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During the quarter, the overall FMCG volume trends in India continued to show gradual improvement on a 2-year CAGR basis. The trajectory in rural areas showed more promise, while urban areas remained stable. Both HPC (Home and Personal Care) and Food segments witnessed an uptick, with the former experiencing a more pronounced pickup over the last six months. Premium segments outpaced mass segments, and alternate channels gained significance compared to General Trade (GT).

The volume growth was supplemented by price hikes in the Coconut Oil portfolio, which more than offset the residual base impact of pricing cuts in the Saffola Oil portfolio. Key portfolios saw healthy off-takes, with more than 90% of the business either gaining or sustaining market share and penetration on a MAT basis.

The execution of Phase 1 of Project SETU in six states, representing a mix of stronghold and opportunity markets, has yielded promising initial results. This phase has led to direct coverage expansion in both urban and rural markets. In FY25, the company plans to scale up Phase 1 markets and expand into more states.

The international business sustained its double-digit constant currency growth momentum, with each key market delivering broad-based growth.

Gross margin expanded by 230 basis points year-on-year. Advertising and promotion spending increased by 13% YoY. The EBITDA margin stood at 23.7%, up 50 basis points YoY, with EBITDA grew by 9%. Profit after tax (excluding one-offs) increased by 12% due to a lower effective tax rate (ETR) during the quarter. This excludes the one-off gain on the sale of fixed assets, classified under ‘Other Income,’ in the base quarter. Reported PAT growth was 9%. The ETR is expected to be 22.5% in FY25

Category Growth

Parachute Rigids registered a 2% volume growth. Volume off-takes grew 8% during the quarter. The brand asserted its stronghold in the category with ~100 bps gain in market share during the quarter. The volume market share of the composite Coconut oil portfolio reached higher levels at ~64% on a MAT basis.

Value-Added Hair Oils declined 5% in value terms amidst persistent sluggishness and competitive headwinds in the bottom of the pyramid segment. Mid and premium segments of franchises continued to fare relatively better. The value market share of the franchise was up ~60 bps during the quarter and consolidated at 27% on a MAT basis.

Saffola Edible Oils delivered mid-single-digit volume growth as input and consumer pricing remained stable.

Foods posted robust 37% value growth YoY. Saffola Oats delivered 20%+ growth, while the relatively newer franchises also scaled up on expected lines. True Elements and Plix maintained their accelerated growth momentum.

Premium Personal Care sustained its strong growth trajectory during the quarter, led by the Digital-first portfolio. Beardo continued to scale well and is on course to deliver improved profitability in line with expectations. Just Herbs and Personal Care portfolio of Plix continued to gain traction.

Earlier this month, the Company announced that it will collaborate with renowned dermatological solutions provider, Kaya Limited, to advance in the personal care segment. Under this arrangement, the Company will have exclusive rights to scale up Kaya’s range of efficacy-based personal care products outside of its clinics. This strategic initiative presents a Rs 100 crore revenue opportunity over the next 4-5 years and will add another growth lever to Marico’s Premium Personal Care led Digital Business.

In international business, Bangladesh achieved 10% constant currency growth, maintaining resilience and momentum. South-East Asia was flat in constant currency terms, as the recovery in HPC demand in Vietnam was offset by a weaker quarter in Myanmar. MENA delivered 20% constant currency growth, with both the Gulf region and Egypt performing well. South Africa saw a 28% constant currency growth, driven by the ethnic hair care segment. NCD and Exports reported 14% growth.

Saugata Gupta, MD & CEO, said, “The new fiscal has started on a promising note for both the domestic and international businesses with revenue growth visibly turning a corner. We expect to sustain the improving trajectory in the core domestic business on the back of consistent market share and penetration gains coupled with the ongoing initiatives to revive growth in traditional trade and expand direct reach under Project SETU. We will also maintain a steadfast focus on the profitable scale-up of the Foods and Digital-first brands. The international business has been veritably consistent over the last few years and is expected to maintain its double-digit constant currency growth momentum. We will aim to deliver on each of the key performance parameters and drive healthy revenue-led earnings growth in the near and medium term.’’

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Saffola Oats has risen to prominence, experiencing remarkable growth within the category while seamlessly becoming a staple in the daily breakfast choices of consumers. The brand has witnessed an astonishing tenfold increase in offtake volumes since inception. According to the Kantar Household Panel Data, Saffola Oats now commands an impressive 43% share of the market in value terms, surpassing all competitors. The data also underscores that 1 out of every 11 households in the country actively includes oats into their daily consumption.  

Commenting on the development, Saugata Gupta, MD and CEO, Marico Limited, said, “We are proud to have achieved this significant milestone and emerge as leaders in the oats category. It’s a testament to our dedication to excellence, innovation and consumer satisfaction. Indians are uncompromising when it comes to taste. With this basic learning, we set out to Indianise oats by addressing the quintessential Indian taste preferences, while seamlessly integrating the health benefits that it offers. Supporting the government’s vision of promoting millets as a sustainable and nutritious food source, we have embraced millets in our product portfolio and blended the goodness of two superfoods – oats and millets in our Saffola oats range. Our unwavering commitment to delight our consumers has helped us revolutionise oats as a category and played a pivotal role in propelling Saffola Oats to the coveted position of India’s Number 1 Oats* Brand. Our journey continues, fuelled by the trust of our customers and our commitment to provide ‘better for you’ products.”

Saffola Oats attributes its success to an unwavering commitment to quality and taste. Consumers have played an instrumental role in this journey, extending their tremendous support to the brand especially in the thriving markets like Maharashtra, Kerala and West Bengal, making it a staple in households across these regions.

In an ever-changing consumer landscape, Saffola Oats has been quick to adapt. As the 21^st entrant in the competitive plain oats market, Saffola Oats embarked on a journey to understand the unique preferences of Indian consumers. Recognizing their love for masaaledaar (spicy) flavours, often found in chatpata street food in every corner across the country, the brand strategically pivoted to meet this demand by introducing the world’s first ‘Savoury Oats’.

The brand’s journey began by educating consumers on the health benefits of oats, particularly in weight management, and then effectively transitioned from being perceived as a mere weight loss product to a staple for weight watchers. Moreover, to keep consumers engaged the brand has offered limited edition choices with international flavours, regional recipes and even catered to sweet variants for those who crave a sweet treat.

Aligning with the government’s vision of promoting millets, Saffola expanded its Oats portfolio with the launch of Saffola Oats Gold that offers a perfect blend of two wholesome grains – Millet (Jowar) and Oats.

Saffola Oats offers a super-creamy texture as it is made from specially sourced soft & 100% natural wholegrain oats. The oats are a powerhouse of nutrients, offering Protein, Iron, and fiber, ensuring long-lasting energy for your day. Its savoury variant, Saffola Masala Oats, offers a wide array of flavours, including Classic Masala, Peppy Tomato, Veggie Twist, Masala Coriander, and Curry Pepper.

*Based on data reported by Kantar Household Panel data for the Oats Category, value for the 12-month ending Dec 31, 2022, for the All India (U) market. (Copyright © 2022, Kantar)

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