Marico Acquires Another 24.09% in Plix Parent for ₹1,012 Crore, Raises Stake to 84.09%

Marico has deepened its investment in plant-based nutrition and personal care brand Plix, acquiring an additional 24.09% stake in parent company Satiya Nutraceuticals for ₹1,012.03 crore. The deal, completed on October 5, takes the FMCG company's holding in Satiya to 84.09% from 60%.

The latest transaction takes Marico's total investment for its 84.09% holding in Satiya Nutraceuticals to ₹1,392.07 crore. Marico's ownership could increase further, with the company set to acquire another 14.09% from the founders and certain other shareholders in July 2027.

For that stake, Marico will pay a base consideration of up to ₹592 crore, with an additional payment linked to agreed milestones and other terms.

The investment comes as Plix has expanded rapidly. Satiya Nutraceuticals' consolidated turnover nearly doubled to ₹864.31 crore in FY26 from ₹432.84 crore in FY25. Turnover stood at ₹155.32 crore in FY24, showing how quickly the business has scaled over the past two years.

Marico Builds Its Holding in Plix

Marico first invested in Satiya Nutraceuticals in 2023, initially acquiring a 32.75% stake along with majority control over the company's board and voting rights. Satiya subsequently became a subsidiary of Marico.

The company's holding increased through subsequent transactions and reached 60% before the latest purchase. With another 24.09% now acquired, Marico owns 84.09% of Satiya on a fully diluted basis.

Satiya Nutraceuticals owns The Plant Fix – Plix, a digital-first brand operating across plant-based nutrition, health, wellness and personal care. The company was incorporated in 2020.

Plix is part of Marico's wider push into businesses beyond its established Parachute and Saffola franchises. The company has been building its presence in foods, premium personal care and digital-first brands through both acquisitions and its existing portfolio.

Foods and Premium Personal Care, including digital-first brands, accounted for around 23% of Marico's India revenue in FY26. The company expects the contribution from these businesses to rise to around 27% in FY27 and 33% by FY30.

Marico Q2 FY27 Revenue Seen Growing Double Digits

The acquisition comes alongside Marico's business update for the September quarter. The company expects consolidated revenue to grow in double digits in Q2 FY27, while operating profit is expected to increase in the mid-twenties.

Its India business recorded double-digit underlying volume growth during the quarter. Parachute Coconut Oil volumes grew in the early teens, while Value Added Hair Oils recorded volume growth in the twenties for the sixth consecutive quarter.

Saffola Oils posted mid-single-digit price-led growth, though volumes declined as Marico rationalised supplies of select variants while maintaining profitability. Foods and Premium Personal Care, including digital-first brands and shampoo, continued to grow during the quarter.

Outside India, Marico's international business recorded constant-currency growth in the teens, led by Vietnam, the Middle East and South Africa. Bangladesh showed a marginal sequential improvement.

Raw material costs also moved differently during the quarter. Copra prices remained around 35% below their peak, while crude-linked derivative costs increased further. Marico expects the movement in copra prices and its portfolio mix to support a strong year-on-year improvement in gross margin.

Marico shares closed at ₹790 on the NSE on October 5, up 1.11%, after touching an intraday high of ₹814.

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