I-T officials raid Marico-founded Kaya's head office, clinics

Kaya Limited, the skincare and wellness company founded by Marico Chairman Harsh Mariwala, said officials of the Income Tax Department visited its head office and one of its clinics in India on Wednesday.

In a stock exchange filing, the company said the proceedings are underway and it is fully cooperating with authorities. “Currently, there is no material impact on the business operations of the Company due to the aforesaid action. In the event there is any further material update that requires intimation under the SEBI Listing Regulations, the Company will make necessary disclosures in accordance with regulatory provisions,” Kaya said.

Kaya, also known as Kaya Skin Clinic, was demerged from Marico in 2013 and has since operated as an independent, publicly listed entity specializing in skin and hair care services and products.

Separately, Marico also said I-T raid was conducted at some of its offices and manufacturing units on Wednesday. The FMCG giant said the proceedings are currently underway and that it is extending full cooperation to the officials.

Marico added that the visit has not had any material impact on its business operations so far. “In the event there is any further material update that requires intimation under the SEBI Listing Regulations, the Company will make necessary disclosures in accordance with regulatory provisions,” it said in a regulatory filing.

Marico’s Mumbai premises came under a large-scale Income Tax raid on Wednesday, with about 200 officials involved. Sources indicated that the search operations are tied to financial discrepancies in two companies.

Income Tax department raids offices of Marico ahead of GST 2.0 rollout

Although specific details of the investigation remain undisclosed, officials confirmed that the team is meticulously scrutinising financial documents and transactions undertaken by Marico as part of a broader tax evasion probe. The development comes at a critical time, coinciding with the imminent rollout of GST 2.0, which is expected to bring enhanced compliance measures in the taxation landscape.

Marico, chaired by Harsh Mariwala, is a leading player in the fast-moving consumer goods (FMCG) sector, renowned for brands such as Parachute, Saffola, and Livon. The company has a strong footprint not only in the domestic market but also in international markets including West Asia and Africa.

Marico bets big on brand building with 25% rise in ad expenses to Rs 299 cr in Q1 FY26 profit

The maker of Parachute oil delivered a 'double-digit' revenue growth in the first quarter of fiscal year 2026. The company's revenue soared to Rs 3,259 crore in Q1 FY25 compared to Rs 2,643 crore in the corresponding quarter last fiscal.

Marico's profit climbed from Rs 474 crore in Q1 FY2024 to Rs 513 crore in Q1 FY25.