Fast-moving consumer goods company Marico Ltd said it recorded high single-digit volume growth in its domestic business during the second quarter of FY26, despite disruptions caused by the rollout of new GST rates and elevated commodity prices.

The company said in its quarterly business update that it expects modest operating profit growth year-on-year, as it extended discounts on pipeline inventory to channel partners and absorbed input cost pressures ahead of the GST rate changes.

GST impact and volume performance

The government’s new Next-Generation GST 2.0 regime, announced on September 4 and effective from September 22, reduced tax rates on most essential and personal care products. Marico said the transition created temporary disruption in trade channels during the quarter, but

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