FMCG stock in focus after company eyes to acquire protein firm Cosmix for ₹300 Cr

Synopsis: Marico is in talks to acquire plant-based protein startup Cosmix for Rs. 300 crore to strengthen its health and wellness and digital-first portfolio, supporting its ambition to scale digital revenues to Rs. 2,000–2,500 crore over the next three years.

This is one of India’s leading consumer goods companies operating in global beauty and wellness categories. It is present in over 25 countries across the emerging markets of Asia and Africa is now in the spotlight after its eye to acquiring plant-based protein startup Cosmix.

With a market capitalisation of Rs. 96,240 cr, the shares of Marico Ltd are currently trading at Rs. 741 per share, increasing 2% in today’s market session, making a high of Rs. 750.90, from its previous close of Rs. 737.65 per share.

About the acquisition

Marico Ltd is a leading consumer goods company, is reportedly in advanced talks to acquire plant-based protein startup Cosmix for around Rs. 300 crore. This strategic move aims to bolster its health and wellness portfolio amid India’s booming demand for protein-rich nutrition. The deal aligns with Marico’s focus on high-growth categories, positioning protein as a “must-play” segment as articulated by CEO Saugata Gupta.

Founded in 2019, Cosmix has demonstrated impressive growth, posting Rs. 24.4 crore in revenue and Rs. 2.8 crore in profit for FY24. The brand achieved over 2.5x growth in the last three years, capitalising on urban consumers’ shift toward convenient, protein-packed products. This performance underscores the startup’s strong market traction in the competitive nutrition space.

The acquisition would enhance Marico’s digital-first strategy by integrating Cosmix into its portfolio of direct-to-consumer (D2C) brands, including Plix, True Elements, Beardo, and Just Herbs. 

Marico targets Rs. 2,000–2,500 crore in digital revenue within three years, and Cosmix’s online-savvy model fits seamlessly. Additionally, Namita Thapar, who invested Rs. 1 crore for 1% equity via Shark Tank in 2024, stands to see her stake’s value triple if the deal materialises.

About the company 

Marico Ltd is one of India’s leading FMCG companies, known for its strong presence in hair care, edible oils, foods, and personal care. The company owns well-known brands such as Parachute, Saffola, Hair & Care, Livon, Set Wet, Nihar, Beardo, Just Herbs, True Elements, and Plix.

Marico has a strong international footprint across Asia and Africa, with key markets including Bangladesh, Vietnam, the Middle East, and Africa. In recent years, the company has aggressively expanded into health, wellness, and digital-first (D2C) brands, focusing on premiumisation and nutrition-led products.

The company reported healthy topline growth with sales rising 31% YoY to Rs. 3,482 crore in Q2FY26 compared to Rs. 2,664 crore in Q2FY25. EBITDA increased 7% YoY to Rs. 560 crore from Rs. 522 crore, indicating stable operating performance. Profitability remained flat, with net profit marginally declining 1% YoY to Rs. 432 crore, while EPS also slipped 1% YoY to Rs. 3.24.

Written by Manideep Appana

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