Marico Ltd
MARICOMarico Ltd
MARICO


Price Chart
Scorecard
Performance
LowHasn't fared well - amongst the low performers
Valuation
HighSeems to be overvalued vs the market average
Growth
LowLagging behind the market in financials growth
Profitability
HighShowing good signs of profitability & efficiency
Entry point
GoodThe stock is underpriced and is not in the overbought zone
Red flags
LowNo red flag found
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Key Metrics
No LabelNo Label | PB RatioPB Ratio | Dividend YieldDiv. Yield |
---|---|---|
51.20 | 19.70 | 1.49% |
Sector PESector PE | Sector PBSector PB | Sector Div YldSctr Div Yld |
---|---|---|
47.18 | 9.34 | 1.57% |
Forecast & Ratings
Detailed Forecast from 35 analysts
Price
Price Upside
Earnings
Earnings Growth
Revenue
Rev. Growth
Company Profile
Marico Limited is a consumer products company operating in the beauty and wellness space. The Company's principal products include edible oils and value added hair oils. Company's brands include Parachute, Nihar, Saffola, Hair & Care and Livon.
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Forecasts
Price
Revenue
Earnings
Price Forecast
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Revenue Forecast
All values in ₹ Thousand cr.
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Earnings Per Share Forecast
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Income
Balance Sheet
Cash Flow
Income Statement
Financial Year | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | TTM | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total Revenue | 6,110.12 | 6,014.10 | 6,944.00 | 8,044.00 | 8,181.00 | 8,956.00 | 10,647.00 | 11,168.00 | 11,236.00 | 10,555.00 | ||||||||||
Raw Materials | 3,010.45 | 2,430.11 | 3,129.00 | 3,627.00 | 3,072.00 | 3,756.00 | 4,992.00 | 4,579.00 | 4,149.00 | 8,256.00 | ||||||||||
Power & Fuel Cost | 31.06 | 29.32 | 34.00 | 37.00 | 36.00 | 27.00 | 32.00 | 35.00 | 37.00 | |||||||||||
Employee Cost | 373.40 | 404.18 | 422.00 | 466.00 | 478.00 | 570.00 | 586.00 | 653.00 | 743.00 | |||||||||||
Selling & Administrative Expenses | 1,120.87 | 1,160.75 | 1,556.00 | 1,701.00 | 1,931.00 | 1,960.00 | 2,364.00 | 2,715.00 | 3,034.00 | |||||||||||
Operating & Other expenses | 430.16 | 734.16 | 581.00 | 785.00 | 1,100.00 | 947.00 | 894.00 | 1,232.00 | 1,105.00 | |||||||||||
EBITDA | 1,144.18 | 1,255.58 | 1,222.00 | 1,428.00 | 1,564.00 | 1,696.00 | 1,779.00 | 1,954.00 | 2,168.00 | 2,299.00 | ||||||||||
Depreciation/Amortization | 94.86 | 90.30 | 89.00 | 131.00 | 140.00 | 139.00 | 139.00 | 155.00 | 158.00 | 167.00 | ||||||||||
PBIT | 1,049.32 | 1,165.28 | 1,133.00 | 1,297.00 | 1,424.00 | 1,557.00 | 1,640.00 | 1,799.00 | 2,010.00 | 2,132.00 | ||||||||||
Interest & Other Items | 20.62 | 16.58 | 16.00 | 40.00 | 50.00 | 34.00 | 39.00 | 56.00 | 73.00 | 58.00 | ||||||||||
PBT | 1,028.70 | 1,148.70 | 1,117.00 | 1,257.00 | 1,374.00 | 1,523.00 | 1,601.00 | 1,743.00 | 1,937.00 | 2,074.00 | ||||||||||
Taxes & Other Items | 317.22 | 350.11 | 303.00 | 143.00 | 353.00 | 351.00 | 376.00 | 441.00 | 456.00 | 470.00 | ||||||||||
Net Income | 711.48 | 798.59 | 814.00 | 1,114.00 | 1,021.00 | 1,172.00 | 1,225.00 | 1,302.00 | 1,481.00 | 1,604.00 | ||||||||||
EPS | 5.52 | 6.19 | 6.31 | 8.63 | 7.91 | 9.08 | 9.49 | 10.09 | 11.47 | 12.42 | ||||||||||
DPS | 4.25 | 3.50 | 4.25 | 4.75 | 6.75 | 7.50 | 9.25 | 4.50 | 9.50 | 6.50 | ||||||||||
Payout ratio | 0.77 | 0.57 | 0.67 | 0.55 | 0.85 | 0.83 | 0.97 | 0.45 | 0.83 | 0.52 |
Company Updates
Annual report
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PDFPeers & Comparison
Consumer StaplesFMCG - Personal Products
Valuation
Technical
Forecast
Stock | PE RatioPE Ratio | PB RatioPB Ratio | Div. YieldDividend Yield |
---|---|---|---|
Marico Ltd | 55.45 | 19.70 | 1.49% |
Godrej Consumer Products Ltd | -192.14 | 8.55 | 1.42% |
Dabur India Ltd | 50.00 | 8.94 | 1.06% |
Colgate-Palmolive (India) Ltd | 50.86 | 35.92 | 2.34% |
Price Comparison
Compare MARICO with any stock or ETFShareholdings
Promoter Holdings Trend
Total Promoter Holding
In last 6 months, promoter holding in the company has almost stayed constant
Low Pledged Promoter Holding
Pledged promoter holdings is insignificant
Institutional Holdings Trend
Total Retail Holding
In last 3 months, retail holding in the company has almost stayed constant
Decreased Foreign Institutional Holding
In last 3 months, foreign institutional holding of the company has decreased by 1.52%
Shareholding Pattern
Mar 2024
Jun 2024
Sep 2024
Dec 2024
Shareholding History
Mutual Funds Holding Trend
Increased Mutual Fund Holding
In last 3 months, mutual fund holding of the company has increased by 1.40%
Top 5 Mutual Funds holding Marico Ltd
Funds (Top 5) | The rupee value of the stock held by the fund divided by the stock’s market cap Market-cap held | Percentage of the fund’s portfolio invested in the stock Weight | Change in the portfolio weight of the stock over the last 3 months 3M holding change | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months Portfolio rank(3M change) |
---|---|---|---|---|
The rupee value of the stock held by the fund divided by the stock’s market cap 1.6601% | Percentage of the fund’s portfolio invested in the stock 1.85% | Change in the portfolio weight of the stock over the last 3 months 0.41% | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months 51/84 (+3) | |
The rupee value of the stock held by the fund divided by the stock’s market cap 0.6539% | Percentage of the fund’s portfolio invested in the stock 6.24% | Change in the portfolio weight of the stock over the last 3 months 0.46% | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months 6/39 (+1) | |
The rupee value of the stock held by the fund divided by the stock’s market cap 0.3461% | Percentage of the fund’s portfolio invested in the stock 2.88% | Change in the portfolio weight of the stock over the last 3 months 0.31% | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months 9/67 (+1) |
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Events
Dividend Trend
No Trend In Dividends
MARICO has shown inconsistent dividend trend over the last 5 years
Dividend Yield
Current dividend yield is 1.49%. An investment of ₹1,000 in the stock is expected to generate dividend of ₹14.93 every year
Dividends
Corp. Actions
Announcements
Legal Orders
Upcoming Dividends
No upcoming dividends are available
Past Dividends
Cash Dividend
Ex DateEx DateFeb 7, 2025
Dividend/Share
₹3.50
Ex DateEx Date
Feb 7, 2025
Cash Dividend
Ex DateEx DateMar 6, 2024
Dividend/Share
₹6.50
Ex DateEx Date
Mar 6, 2024
Cash Dividend
Ex DateEx DateNov 7, 2023
Dividend/Share
₹3.00
Ex DateEx Date
Nov 7, 2023
Cash Dividend
Ex DateEx DateMar 8, 2023
Dividend/Share
₹4.50
Ex DateEx Date
Mar 8, 2023
Cash Dividend
Ex DateEx DateFeb 4, 2022
Dividend/Share
₹6.25
Ex DateEx Date
Feb 4, 2022
Net profit of Marico rose 4.18% to Rs 399.00 crore in the quarter ended December 2024 as against Rs 383.00 crore during the previous quarter ended December 2023. Sales rose 15.36% to Rs 2794.00 crore in the quarter ended December 2024 as against Rs 2422.00 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales2794.002422.00 15 OPM %19.0821.18 - PBDT562.00537.00 5 PBT518.00495.00 5 NP399.00383.00 4 Powered by Capital Market - Live
Marico has fixed 07 February 2025 as record date for interim dividend of Rs 3.50 per equity share of Re 1 each for FY 2024-25 . The dividend will be paid on or before 02 March 2025.Powered by Capital Market - Live
Revenue from operations increased 15% YoY to Rs 2,794 crore in Q3 FY25, with underlying volume growth of 6% in the domestic business and constant currency growth of 16% in the international business. Profit before tax grew by 4.64% to Rs 518 crore in Q3 FY25 as compared with Rs 495 crore reported in Q3 FY24. EBITDA stood at Rs 533 crore in Q3 FY25, up 4% as compared with Rs 513 crore in Q3 FY25. EBITDA margin fell by 210 bps to 19.1% in Q3 FY25 as against 21.2% in Q3 FY24. A&P spends rose by 19% YoY, reflecting its strategic focus on continually strengthening franchises and driving diversification. Domestic revenue grew 17% YoY to Rs 2,101 crore, driven by price hikes in core portfolios to offset the rise in input costs. Among channels, MT and e-commerce (including Quick Commerce) led with high double-digit volume growth, while GT remained flat. Parachute Rigids achieved 3% volume growth, despite a 1% impact from the reduction in ml-age on key price-point packs, implemented instead of a price increase. The brand demonstrated resilience even amid the steeper-than-expected rise in copra prices. Volume offtakes grew in the high single digits, resulting in a 140bps market share gain on a MAT basis. Revenue grew by 15%, supported by pricing hikes earlier this year. Additionally, the brand implemented a further 5% price increase towards the end of the quarter, as copra prices are expected to remain elevated. The impact of the sharp rise in copra prices and recent brand pricing on near-term consumption will be closely monitored. Value-Added Hair Oils (VAHO) saw a 2% decline in value terms but showed clear signs of recovery on a sequential basis. The mid and premium segments performed relatively better, contributing to a 70-bps gain in value market share on a MAT basis. The firm expects gradual improvement in VAHO, supported by ATL investments, brand activations, and the recovering sentiment in rural consumption. Saffola Edible Oils showed stability, achieving low-single-digit volume growth despite the sharp rise in vegetable oil prices. The brand saw a 24% revenue growth, driven by pricing interventions made in recent months. The Foods segment posted a strong 31% value growth YoY, approaching Rs 1,000 crore ARR in Q3. Saffola Oats achieved double-digit growth, while newer franchises performed well. Premium Personal Care continued its strong performance in the quarter, driven by the digital-first portfolio. The portfolio, which includes Beardo, Just Herbs, and Plix's personal care offerings, exceeded expectations, reaching Rs 600 crore in ARR in Q3. Beardo is on track to achieve double-digit EBITDA margins this year. Within the international business, Bangladesh posted 20% CCG (constant currency growth), demonstrating strong resilience of the business model amidst a challenging macro environment. The fundamentals and medium-term growth construct of the business remain intact. MENA delivered 35% CCG with broad-based growth in the Gulf region and Egypt. South Africa registered 17% CCG, with both the Hair Care and Health Care franchises faring well. Southeast Asia had a soft quarter. NCD and exports posted 15% growth. On outlook front, the company said, 'Amidst the stable macro backdrop, we expect gradual improving growth trends in the core categories of our domestic business through the ongoing initiatives to support select General Trade (GT) channel partners and transformative expansion in our direct reach footprint under Project SETU. We also continue to draw confidence from healthy offtakes, penetration, and market share gains in our key portfolios. The company's ongoing investment in scaling up its Foods and Premium Personal Care portfolios has led to a noticeable shift in the revenue structure, enabling differentiated growth despite slower demand in mass consumption-driven segments in recent quarters. The focus remains on aggressively diversifying the portfolio in line with medium-term strategic goals. Following structural improvements in supply chain and GTM last year, the company aims to grow Foods at a 20-25% CAGR, doubling FY24 revenues by FY27. The digital-first portfolio is expected to exceed Rs 600 crore in ARR by FY25 and double FY24 ARR by FY27. The domestic revenue share from these portfolios is projected to reach around 25% by FY27. After an 800 bps gross margin improvement in FY24, gradual margin improvements are expected in the Foods portfolio as it scales. Beardo is on track to deliver a double-digit EBITDA margin this year, with plans to replicate this success in the digital-first portfolios, targeting a double-digit EBITDA margin by FY27. The international business has grown from strength to strength in the face of transient headwinds in select regions. We aim to maintain the double-digit constant currency growth momentum over the medium term. In the medium term, we aim to deliver double-digit revenue growth through consistent outperformance vis-'vis the category and market share gains in the domestic core portfolios, accelerated growth in the Foods and Premium Personal Care, and double-digit constant currency growth in the international business. We also expect operating margin to inch up over the medium term with leverage benefits as well as premiumization of the portfolios across both the domestic and international businesses.' Saugata Gupta, MD & CEO, commented, 'We have delivered a considerably resilient performance in this quarter with the highest underlying volume and revenue growth in 13 quarters. The core domestic portfolios have held firm amidst inflationary conditions and witnessed market share and penetration gains, with the accelerated scale-up in food and digital-first brands visibly advancing the diversification agenda. The robust momentum in the overseas business, despite challenging operating conditions in select markets, reinforces our medium-term growth algorithm. While the sharper-than-anticipated rise in input costs will have some transient impact on margins in the near term, we remain biased towards driving top-quartile volume growth and double-digit revenue growth in the near and medium term.' Meanwhile, the board has declared an interim dividend of Rs 3.50 per share, as on the record date, i.e., 7 February 2025. The date of payment of the interim dividend will be on or before Sunday, 2 March 2025. Marico is one of India's leading consumer products companies in the global beauty and wellness space. Its portfolio includes brands such as Parachute, Saffola, Fitty Gourmet, Saffola ImmuniVeda, Saffola Mealmaker, Hair & Care, Parachute Advanced, Nihar Naturals, Mediker, Coco Soul, Revive, Set Wet, Livon, and Beardo. Shares of Marico rose 0.05% to currently trade at Rs 672.70 on the BSE. Powered by Capital Market - Live
Marico announced that the Board of Directors of the Company at its meeting held on 31 January 2025, has recommended a Interim dividend of Rs.3.5 per share (i.e.350%), subject to the approval of the shareholders.Powered by Capital Market - Live
Marico has fixed 07 February 2025 as record date for payment of interim dividend, if declared, for FY 2024-25. Powered by Capital Market - Live
The consolidated business delivered mid-teen revenue growth on a year-on-year basis, thereby staying on course to meet the double-digit growth aspiration on a full year basis. It expects modest operating profit growth on a year-on-year basis The FMCG company said that its domestic business posted a sequential uptick in underlying volume growth with sustained market share gains across key franchises. Parachute Coconut Oil was resilient amidst the rising input cost and pricing environment, albeit slightly moderating in volume terms on a sequential basis. The brand recorded low teen revenue growth, aided by pricing interventions during the current year. The brand has taken another round of price increase towards the end of this quarter as copra prices remained firm. Saffola Oils held firm in volume terms despite steep pricing interventions in response to the rise in vegetable oil prices. The brand posted high teen revenue growth. Value Added Hair Oils declined marginally owing to competitive headwinds in the bottom of the pyramid segment, although the healthier trajectory in mid and premium segments is aiding gradual recovery as compared with the preceding quarter. Foods and Digital-first brands sustained their strong growth momentum and continued to deliver well-ahead of aspirations. The International business delivered broad based mid-teen constant currency growth. Bangladesh continued to demonstrate visible strength and resilience with high double digit constant currency growth. Vietnam had a soft quarter in a sluggish consumption environment. MENA and South Africa maintained their robust double digit growth momentum. Among key inputs, copra prices remained firm at higher-than-expected levels and vegetable oil prices moved up during the quarter, while crude oil derivatives remained rangebound. The company stated that it will focus on its stated volume-driven revenue growth aspiration while remaining watchful on the margin front in the near term. Meanwhile, the company's board scheduled to meet on 31 January 2025 to consider and approve the unaudited standalone & consolidated financial results for the quarter ended December 31, 2024. Marico is one of India's leading consumer products companies in the global beauty and wellness space. Its portfolio includes brands such as Parachute, Saffola, Saffola FITTIFY Gourmet, Saffola ImmuniVeda, Saffola Mealmaker, Hair & Care, Parachute Advansed, Nihar Naturals, Mediker, Coco Soul, Revive, Set Wet, Livon and Beardo. The FMCG major reported 19.83% increase in consolidated net profit to Rs 423 crore in Q2 FY25 as compared with Rs 353 crore posted in Q2 FY24. Revenue from operations increased 7.59% YoY to Rs 2,664 crore in Q2 FY25, with underlying volume growth of 5% in the domestic business and constant currency growth of 13% in the international business. Powered by Capital Market - Live
Marico will hold a meeting of the Board of Directors of the Company on 31 January 2025.Powered by Capital Market - Live
Marico has allotted 27,397 equity shares under ESOP on 17 December 2024. With this allotment, the paid up equity share capital has increased to 1,29,52,46,044 equity shares of Re. 1 each aggregating to Rs. 1,29,52,46,044/-. Powered by Capital Market - Live
Marico Ltd is up for a third straight session in a row. The stock is quoting at Rs 640.65, up 1.22% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.27% on the day, quoting at 24574.6. The Sensex is at 81357.24, down 0.21%. Marico Ltd has risen around 7.28% in last one month. Meanwhile, Nifty FMCG index of which Marico Ltd is a constituent, has risen around 0.59% in last one month and is currently quoting at 56766.8, down 0.8% on the day. The volume in the stock stood at 20.28 lakh shares today, compared to the daily average of 26.16 lakh shares in last one month. The benchmark December futures contract for the stock is quoting at Rs 637.25, up 0.53% on the day. Marico Ltd is up 18.68% in last one year as compared to a 17.43% spurt in NIFTY and a 3.87% spurt in the Nifty FMCG index.The PE of the stock is 60.55 based on TTM earnings ending September 24.Powered by Capital Market - Live
Marico has allotted 24,844 equity shares under ESOP on 11 December 2024. With this allotment, the paid up equity share capital has increased to 1,29,52,18,647 equity shares of Re. 1 each aggregating to Rs. 1,29,52,18,647/-. Powered by Capital Market - Live
Higher than Industry Revenue Growth
Over the last 5 years, revenue has grown at a yearly rate of 6.91%, vs industry avg of 6.72%
Decreasing Market Share
Over the last 5 years, market share decreased from 19.51% to 18.98%
Higher than Industry Net Income
Over the last 5 years, net income has grown at a yearly rate of 5.86%, vs industry avg of -2.34%