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Marico Ltd

MARICO NSE

Key Fundamentals

MidcapFMCG ProductsFMCG
Market Cap
1.1L Cr
Volatility
Moderate
P/E Ratio
59.28
EBITDA
₹2,532 Cr
Return on Equity
40.34%
Debt to Equity
0.13
Book Value
₹32.42
EPS
₹11.73
52W High
₹889.1
52W Low
₹690.3

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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41 extracted metrics + investor summaries across FY15–FY26.

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Technical Indicators

Key Insights

Strengths

2
  • Company has a good return on equity (ROE) track record: 3 Years ROE 40.9%
  • Company has been maintaining a healthy dividend payout of 65.1%

Weaknesses

2
  • Stock is trading at 26.6 times its book value
  • The company has delivered a poor sales growth of 11.1% over past five years.

Growth Rate

Revenue Growth
25.15% ↗
Net Income Growth
9.35% ↘
Cash Flow Change
52.90% ↗
ROE
3.78% ↘
ROCE
5.66% ↘
EBITDA Margin (Avg.)
-13.78% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
AI opinion · based on fundamentals
Risk medium

Marico Ltd is an FMCG company with a market cap of approximately ₹1,11,855 crore, trading at a PE of 58.5x and a price-to-book of 27.1x. The company delivers a consistently high ROE of 43% (last year) with TTM sales growth accelerating to 25%, though its 5-year sales CAGR remains modest at 11%.

Bull Case 7
  • Exceptional return on equity with last year ROE at 43% and a 10-year average of 38%, indicating highly efficient capital allocation
  • TTM sales growth has accelerated sharply to 25%, well above the 5-year CAGR of 11%, suggesting improving demand momentum
  • Healthy dividend payout ratio of 65.1%, reflecting strong cash generation and shareholder-friendly capital return policy
  • Consistent long-term profitability with compounded profit growth of 10% over 10 years and 11% over 3 years
  • Stock CAGR of 19% over the last 1 year shows recent re-rating by the market on improving fundamentals
  • 3-year ROE of 41% demonstrates durability of high returns, not a one-off spike
  • 10-year stock CAGR of 11% indicates long-term wealth compounding for patient investors
Bear Case 8
  • Stock trades at 58.5x PE, significantly above the broader market and FMCG sector averages, leaving limited margin of safety
  • Price-to-book ratio of 26.3-27.1x is extremely elevated, pricing in substantial future growth that may already be discounted
  • 5-year compounded sales growth of only 11% is modest for a stock commanding a 58.5x PE multiple
  • 5-year compounded profit growth of 9% lags behind sales growth and is inconsistent with the premium valuation
  • Dividend yield of just 0.46% provides negligible income cushion despite the high payout ratio of 65.1%
  • TTM profit growth of 13% trails TTM sales growth of 25%, suggesting potential margin compression or higher input costs
  • 10-year compounded sales growth of 9% indicates the company operates in a relatively slow-growth category over extended periods
  • Stock CAGR of 10% over 5 years and 14% over 3 years is moderate relative to the valuation premium carried

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Headwinds 1
  • Modern trade channel slowdown Aug 4

    Marico executive flagged a modest slowdown in the modern trade channel, indicating a shift in near-term distribution dynamics while aiming to sustain gross margins at prior-year levels.

Positives 3
  • Q1FY27 profit jumps 25% YoY Aug 5

    Consolidated net profit rose 25% YoY to ₹630 crore on revenue of ₹3,957 crore (up 23%), beating analyst estimate of ₹590 crore. EBITDA grew 25% to ₹819 crore with margins expanding to 20.70%, driven by 11% India volume growth and 15% international CCG.

  • High teen growth targeted by FY27 Aug 5

    Marico outlined expectations of high teen revenue growth and better EBITDA margins by FY27, with double-digit volume growth anticipated in Q2.

  • ₹15,000 Cr revenue target by FY27 Jul 10

    Marico announced a ₹15,000 crore revenue target by FY27 and reaffirmed its ₹20,000 crore goal for 2030, driven by premium and digital brand push.

Neutral 2
  • ₹44 Cr block trade on BSE Jul 28

    Approximately 511,612 shares traded at ₹866.50 per share in a block deal worth ₹44.33 crore on BSE, reflecting institutional-level activity.

  • BRSR filed for FY26 Jul 9

    Marico filed its Business Responsibility and Sustainability Report for FY 2025-26, disclosing ESG metrics with independent assurance.

TL;DR: Marico delivered its strongest quarterly profit growth in 28 quarters with Q1FY27 net profit up 25% to ₹630 crore, beating estimates on broad-based volume growth across India and international markets. The company has set ambitious medium-term targets of ₹15,000 crore revenue by FY27 with improving EBITDA margins. The key risk is a flagged slowdown in the modern trade channel, though management appears confident in sustaining margins. The trend is clearly improving with strong volume momentum and margin expansion providing a solid runway into FY27.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
2,477
2,476
2,422
2,278
2,643
2,664
2,794
2,730
3,221
3,482
3,537
3,301
3,957
Expenses
1,903
1,979
1,909
1,836
2,017
2,142
2,261
2,272
2,566
2,922
2,945
2,780
3,138
Operating Profit
574
497
513
442
626
522
533
458
655
560
592
521
819
OPM %
23%
20%
21%
19%
24%
20%
19%
17%
20%
16%
17%
16%
21%
Other Income
46
38
43
15
37
82
42
47
56
49
39
60
48
Interest
17
20
19
17
17
11
13
12
10
12
14
17
21
Depreciation
36
39
42
41
41
41
44
52
45
47
50
60
56
PBT
567
476
495
399
605
552
518
441
656
550
567
504
790
Tax %
23%
24%
22%
20%
22%
22%
22%
22%
22%
21%
19%
19%
17%
Net Profit
436
360
386
320
474
433
406
345
513
432
460
408
652
EPS in Rs
3.3
2.73
2.96
2.46
3.58
3.27
3.08
2.65
3.89
3.24
3.44
3.01
4.85
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
5,733
6,017
5,918
6,322
7,334
7,315
8,048
9,512
9,764
9,653
10,831
13,611
14,277
Expenses
4,863
4,966
4,759
5,185
6,009
5,846
6,459
7,831
7,954
7,627
8,692
11,283
11,785
Operating Profit
870
1,051
1,159
1,137
1,325
1,469
1,589
1,681
1,810
2,026
2,139
2,328
2,492
OPM %
15%
17%
20%
18%
18%
20%
20%
18%
19%
21%
20%
17%
17%
Other Income
59
93
96
85
103
95
107
98
144
142
208
204
196
Interest
23
21
17
16
40
50
34
39
56
73
53
53
64
Depreciation
84
95
90
89
131
140
139
139
155
158
178
202
213
PBT
822
1,029
1,149
1,117
1,257
1,374
1,523
1,601
1,743
1,937
2,116
2,277
2,411
Tax %
29%
30%
29%
26%
10%
24%
21%
22%
24%
22%
22%
20%
—
Net Profit
585
723
811
827
1,131
1,043
1,199
1,255
1,322
1,502
1,658
1,813
1,952
EPS in Rs
4.45
5.51
6.19
6.31
8.63
7.91
9.08
9.48
10.07
11.44
12.57
13.57
14.54
Div. Payout %
28%
77%
57%
67%
55%
85%
83%
97%
45%
83%
83%
30%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
64
129
129
129
129
129
129
129
129
129
129
130
Reserves
1,760
1,888
2,197
2,414
2,846
2,894
3,111
3,219
3,670
3,703
3,846
4,080
Borrowings
428
331
239
312
352
338
511
479
608
528
554
557
Other Liabilities
873
1,010
1,059
1,217
1,569
1,603
1,675
1,850
2,393
2,993
3,746
5,183
Total Liabilities
3,125
3,358
3,623
4,072
4,896
4,964
5,426
5,677
6,800
7,353
8,275
9,950
Fixed Assets
1,076
1,050
1,085
1,110
1,300
1,396
1,612
1,760
2,246
2,724
2,758
3,633
CWIP
3
37
11
27
45
58
24
39
67
44
40
85
Investments
284
544
608
543
450
733
854
828
1,096
602
1,590
2,083
Other Assets
1,763
1,727
1,919
2,392
3,101
2,777
2,936
3,050
3,391
3,983
3,887
4,149
Total Assets
3,125
3,358
3,623
4,072
4,896
4,964
5,426
5,677
6,800
7,353
8,275
9,950
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
665
818
649
516
1,062
1,214
2,007
1,016
1,419
1,387
1,363
2,084
Investing
-186
-203
-125
59
-367
-22
-933
441
-928
176
-621
-722
Financing
-625
-601
-574
-567
-698
-1,147
-1,058
-1,290
-560
-1,542
-649
-1,279
Net Cash Flow
-147
14
-51
8
-3
45
16
167
-69
21
93
83
Free Cash Flow
607
731
567
388
919
1,034
1,870
884
1,237
1,234
1,241
1,772
CFO/OP
101
101
82
71
104
102
144
81
99
87
86
114
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
11
15
15
20
26
27
18
25
38
40
43
35
Inventory Days
139
110
193
190
147
157
108
106
94
116
93
85
Days Payable
79
80
107
103
98
108
109
101
112
137
103
108
Cash Conversion Cycle
71
46
101
106
74
76
17
30
20
19
33
12
Working Capital Days
18
0
23
37
27
24
-11
5
2
14
16
-18
ROCE %
38%
44%
45%
42%
42%
43%
43%
43%
42%
43%
45%
47%

Shareholding Pattern

As of Jun 2026
Promoters 58.91%
FIIs 23.40%
DIIs 13.02%
Public 3.66%
Others 1.01%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
59.61%
59.61%
59.52%
59.51%
59.49%
59.48%
59.48%
59.48%
59.42%
59.42%
59.40%
59.39%
59.35%
59.28%
59.20%
59.11%
59.05%
59.03%
58.94%
58.93%
58.93%
58.91%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
25.91%
0.00%
25.54%
24.61%
24.87%
23.36%
22.08%
23.62%
24.21%
24.01%
24.08%
23.40%
DIIs
10.02%
9.52%
8.44%
8.52%
8.66%
8.57%
8.84%
10.26%
10.42%
10.55%
9.82%
8.81%
10.09%
11.30%
11.21%
12.85%
14.21%
12.71%
11.99%
12.34%
12.30%
13.02%
Government
0.18%
0.09%
0.09%
0.09%
0.09%
0.09%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
4.15%
3.86%
4.01%
4.12%
4.35%
4.28%
4.23%
4.23%
4.24%
4.14%
3.96%
4.07%
4.12%
3.84%
3.72%
3.79%
3.74%
3.73%
3.77%
3.70%
3.67%
3.66%
Others
26.04%
26.92%
27.95%
27.77%
27.41%
27.58%
27.46%
26.03%
25.92%
25.89%
0.91%
27.72%
0.90%
0.96%
1.00%
0.89%
0.91%
0.91%
1.10%
1.02%
1.03%
1.01%
No. of Shareholders
0
2,07,710
2,06,599
2,72,808
2,94,460
3,32,229
3,39,017
3,43,641
3,47,569
3,30,907
3,08,025
3,16,579
3,18,556
2,99,154
3,02,183
3,00,805
2,86,770
2,88,218
2,89,152
2,82,209
2,87,764
2,93,560

Documents

Frequently Asked Questions about Marico Ltd

What does Marico Ltd do?
Marico Limited is one of India's leading consumer goods companies operating in global beauty and wellness categories. It is present in over 25 countries across emerging markets of Asia and Africa. It nurtures leading brands across categories of hair care, skin care, edible oils, healthy foods, ma...
Where is Marico Ltd (MARICO) listed?
Marico Ltd is listed on the Indian stock exchanges. It is listed on NSE: MARICO and BSE: 531642. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Marico Ltd belong to?
Marico Ltd operates in the FMCG sector within the FMCG Products industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Marico Ltd?
Marico Ltd has a market capitalisation of approximately ₹111614.84 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Marico Ltd?
The Price-to-Earnings (PE) ratio of Marico Ltd is 59.28. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Marico Ltd?
Over the past 52 weeks, Marico Ltd has traded between a low of ₹690.3 and a high of ₹889.1. This range helps investors understand the stock's price volatility and recent trading levels.
Does Marico Ltd pay dividends?
Yes, Marico Ltd has a dividend yield of 0.47%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Marico Ltd?
Marico Ltd has a Return on Equity (ROE) of 40.34%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Marico Ltd on Tapetide?
On Tapetide, you can view Marico Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Marico Limited is one of India's leading consumer goods companies operating in global beauty and wellness categories. It is present in over 25 countries across emerging markets of Asia and Africa. It nurtures leading brands across categories of hair care, skin care, edible oils, healthy foods, male grooming and fabric care.[1]

Website marico.com
CEO Mr. Saugata Gupta
Employees 1,908
Listed 1996-05-01
Face Value ₹ 1
Issued Size 1,29,80,87,659

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