Marico shares in focus as arm acquires Vietnamese skincare company for Rs 262 crore

Synopsis

Marico is set to acquire a 75% stake in Vietnam's Skinetiq for Rs 262 crore, expanding its premium beauty and D2C presence. This follows Marico's recent 60% acquisition of wellness brand Cosmix. The company also reported a 13.3% YoY profit increase for the December quarter, driven by domestic volume growth and international expansion.

Shares of FMCG major Marico will be in focus heading into trade on Tuesday, February 10, after the company announced that its wholly owned arm, Marico South East Asia Corporation, signed definitive agreements to purchase a 75% equity stake in Vietnam-based beauty and personal care company Skinetiq for a total consideration of Rs 262 crore.

Skinetiq owns the digital-first, science-led skincare brand “Candid” and also has exclusive distribution rights in Vietnam for the luxury clinical skincare label “Murad”. The proposed acquisition is in line with Marico’s strategy to expand its presence in premium beauty and strengthen its direct-to-consumer portfolio in Vietnam, a rapidly growing beauty market in Southeast Asia.

The deal will be executed in two tranches and remains subject to regulatory approvals in Vietnam. Following completion, Skinetiq will become a subsidiary of Marico South East Asia Corporation and, in turn, Marico Ltd. The company also retains an option to acquire the remaining stake after FY28, subject to achievement of certain milestones.

The company has reported steady growth in recent years, with unaudited turnover of Rs 152 crore in CY2025, Rs 61 crore in CY2024 and around Rs 45 crore in CY2023.

Also Read | Quant MF cuts gold, silver exposure near peak levels in multi-asset fund

This is the company’s second acquisition in February. Last week, it said it acquired a 60% stake in Cosmix Wellness at an equity valuation of about Rs 375 crore. The Bengaluru-based brand specialises in plant-based protein powders, fermented yeast protein formulations and functional superfood blends, and has recently expanded into functional foods such as plant-protein pancake mixes and protein bars.

Bootstrapped and profitable since inception, Cosmix has scaled to roughly Rs 100 crore ARR while maintaining a high-teen EBITDA margin profile. The company reported turnover of Rs 50.93 crore in FY25, Rs 24.32 crore in FY24 and Rs 5.39 crore in FY23, reflecting rapid scale-up over the past three years.

Marico reported a 13.3% YoY increase in consolidated profit at Rs 460 crore for the December quarter, supported by high single-digit volume expansion in its domestic business.

Consolidated revenue from operations climbed 26.6% YoY to Rs 3,537 crore in Q3 FY26, compared with Rs 2,794 crore in the same quarter last year, reflecting broad-based growth across segments.

According to the company, which owns brands such as Saffola, Parachute and Livon, the topline performance was driven by underlying volume growth of 8% in the India business and constant currency growth of 21% in its international operations.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

...moreless

...moreless