Marico Limited stands as a stalwart in India’s consumer goods sector, commanding a significant presence both domestically and internationally. With operations spanning across more than 25 countries, primarily in Asia and Africa, Marico has established itself as a formidable player in the global beauty and wellness landscape. The company’s diverse portfolio encompasses renowned brands in hair care, skin care, edible oils, healthy foods, male grooming, and fabric care, catering to the evolving needs of consumers worldwide.
In India, Marico’s contributions to the consumer goods industry are particularly noteworthy, with its products ingrained in the daily lives of millions. Globally, its presence underscores the universal appeal and relevance of its offerings in various cultural and demographic contexts.
Beyond the numerical achievements, this article delves into the intricate fabric of market dynamics, Marico’s exceptional performance, and the broader economic currents shaping its trajectory. As the company sets ambitious goals, including a speculated price target of ₹10,000, it prompts contemplation on its potential to navigate challenges and realize its envisioned success.
About Marico
Marico Limited stands tall as a prominent player in India’s consumer goods industry, specializing in diverse beauty and wellness offerings. Its reach extends far beyond national borders, spanning across 25 countries in Asia and Africa. Marico takes pride in nurturing a spectrum of renowned brands, each catering to distinct needs across various segments such as hair care, skin care, edible oils, healthy foods, male grooming, and fabric care.
In the realm of hair care, Marico’s iconic brands like Parachute and Nihar Naturals are household names, trusted by generations for their quality coconut oil. Saffola, another flagship brand, dominates the market with its premium range of refined edible oils, promoting health and well-being.
The company’s commitment to innovation is evident in its ventures into healthy foods, exemplified by Saffola oats and Coco Soul, as well as in the male grooming segment with brands like Set Wet and Beardo. Marico’s dedication to holistic wellness is further highlighted through its skincare offerings under the Kaya Youth and Parachute Advanced ranges.
Moreover, Marico’s portfolio extends to hygiene solutions with products like Mediker and Veggie Clean, emphasizing its role in ensuring overall well-being. With True Elements catering to the breakfast segment, Marico’s influence pervades various aspects of daily life, enriching experiences and promoting a culture of health and vitality.
Marico Q4 Fy2024 Key Points and Summary:
- Marico Ltd reported a consolidated net profit of Rs 320 crore for Q4 FY23-24, up 4.9% from the previous year.
- Revenue increased by 1.69% year-on-year to Rs 2,278 crore.
- EBIDTA rose by 12.5% to Rs 442 crore, with an EBIDTA margin of 19.4%, up by 190 basis points.
- The company declared a second interim dividend of Rs 6.50 per equity share, totaling Rs 9.50 per share for the fiscal year.
- Marico’s domestic business showed resilience, with 75% gaining or sustaining market share on a Moving Annual Total (MAT) basis.
- Mid and premium segments, including value-added hair oils, performed well, with the foods portfolio expected to double in scale by FY27.
- Despite sectoral challenges, Marico remains optimistic, focusing on urban-centric and premium portfolios through organized retail and e-commerce channels.
- The company prioritizes General Trade channel enhancement through initiatives like Project SETU, aiming to expand reach to 1.5 million outlets by FY27.
- Marico aims for double-digit revenue growth, driven by outperformance in core portfolios and accelerated growth in foods and premium personal care.
- Operating margins are expected to improve in the medium term, supported by leverage benefits and premiumization efforts across both India and international businesses.
- Marico’s strategic initiatives reflect its commitment to sustainable growth and market leadership in the consumer goods sector.
Marico Share Price Target 2024 To 2030
Marico Share Price Target 2024
| When | Maximum Price | Minimum Price |
| May 2024 | 603.50 | 524.79 |
| June 2024 | 625.23 | 543.68 |
| July 2024 | 618.98 | 538.24 |
| August 2024 | 643.74 | 559.77 |
| September 2024 | 669.49 | 582.16 |
| October 2024 | 656.36 | 570.75 |
| November 2024 | 682.61 | 593.58 |
| December 2024 | 689.44 | 599.51 |
In May 2024, Marico’s shares are anticipated to reach a maximum price of 603.50 and a minimum price of 524.79 per share. As June approaches, the stock’s value is predicted to climb, with expectations of a maximum price of 625.23 and a minimum price of 543.68. Throughout the year, Marico’s shares are expected to experience fluctuations, with December marking a potential high of 689.44 and a low of 599.51 per share.
Marico Share Price Target 2025
| When | Maximum Price | Minimum Price |
| January 2025 | 696.33 | 535.64 |
| February 2025 | 703.37 | 541.05 |
| March 2025 | 718.14 | 552.41 |
| April 2025 | 711.03 | 546.94 |
| May 2025 | 690.32 | 531.01 |
| June 2025 | 721.38 | 554.91 |
| July 2025 | 707.24 | 544.03 |
| August 2025 | 729.11 | 560.86 |
| September 2025 | 737.86 | 567.59 |
| October 2025 | 757.05 | 582.34 |
| November 2025 | 775.97 | 596.90 |
| December 2025 | 810.89 | 623.76 |
As we step into January 2025, Marico is projected to reach a maximum price of 696.33 and a minimum price of 535.64 per share. Throughout the year, Marico’s stock prices are expected to fluctuate, with June seeing a potential high of 721.38 and a low of 554.91. By December, Marico’s shares could soar to a maximum price of 810.89 and a minimum of 623.76 per share.
Marico Share Price Target 2026 To 2030
| Year | Maximum Price (₹) | Minimum Price (₹) |
|---|---|---|
| 2026 | ₹937.70 | ₹558.39 |
| 2027 | ₹1077.46 | ₹614.23 |
| 2028 | ₹1,228.45 | ₹614.23 |
| 2029 | ₹1,463.59 | ₹531.80 |
| 2030 | ₹1,682.67 | ₹967.87 |
Looking ahead, Marico’s share prices are anticipated to exhibit remarkable growth in the coming years. In 2026, analysts predict that Marico’s shares will achieve a maximum price of ₹937.70, while the minimum is expected to stabilize at ₹558.39. As we progress into 2027, Marico’s shares are forecasted to experience further gains, with the maximum price projected to reach ₹1,077.46 and the minimum to settle at ₹614.23.
Continuing this upward trend, 2028 is envisioned as a year of continued prosperity for Marico, with the maximum price expected to rise to ₹1,228.45 and the minimum to remain steady at ₹614.23. The subsequent year, 2029, is anticipated to witness even more significant gains, with Marico’s shares reaching a maximum price of ₹1,463.59 and a minimum of ₹531.80, showcasing the company’s resilience and value in the market.
By 2030, Marico’s trajectory points towards sustained success, with its shares predicted to soar to a maximum price of ₹1,682.67, while the minimum is expected to reach ₹967.87, indicating continued growth and investor confidence in the company’s future prospects. This optimistic outlook underscores Marico’s position as a promising investment opportunity in the years to come.
Marico’s Financial Condition (Last 5 Years)
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
| Sales + | 7,315 | 8,048 | 9,512 | 9,764 | 9,653 |
| Expenses + | 5,846 | 6,459 | 7,831 | 7,954 | 7,627 |
| Operating Profit | 1,469 | 1,589 | 1,681 | 1,810 | 2,026 |
| OPM % | 20% | 20% | 18% | 19% | 21% |
| Other Income + | 95 | 107 | 98 | 144 | 142 |
| Interest | 50 | 34 | 39 | 56 | 73 |
| Depreciation | 140 | 139 | 139 | 155 | 158 |
| Profit before tax | 1,374 | 1,523 | 1,601 | 1,743 | 1,937 |
| Tax % | 24% | 21% | 22% | 24% | 22% |
| Net Profit + | 1,043 | 1,199 | 1,255 | 1,322 | 1,502 |
| EPS in Rs | 7.91 | 9.08 | 9.48 | 10.07 | 11.44 |
| Dividend Payout % | 85% | 83% | 97% | 45% | 83% |
Marico has demonstrated a consistent upward trajectory in its sales figures over the past five years, climbing from 7,315 in March 2020 to 9,653 in March 2024. Despite occasional fluctuations, expenses have mirrored this growth trend, reaching 7,627 by March 2024. This strategic balance between revenue and expenses has fueled a steady rise in operating profit, which surged from 1,469 in March 2020 to 2,026 in March 2024, marking a notable achievement with an operating profit margin peaking at 21% in March 2024.
Moreover, Marico has exhibited resilience in augmenting its income streams, consistently bolstering overall profitability with supplementary revenue sources. While facing a slight uptick in interest expenses and depreciation, the company has effectively managed to uphold its profitability. Over the years, the profit before tax has exhibited a steadfast climb, reaching 1,937 in March 2024, underlining Marico’s adeptness in sustaining profitability amid dynamic market conditions. Despite variations in tax percentages, the net profit has showcased an upward trajectory, culminating at 1,502 in March 2024.
Simultaneously, Marico’s earnings per share (EPS) have witnessed a steady ascent from 7.91 in March 2020 to 11.44 in March 2024, signifying augmented value creation for shareholders. Additionally, variations in dividend payout percentages have been observed, particularly in March 2024, indicating potential reinvestment or retained profits for future strategic initiatives. Overall, Marico’s financial performance underscores a robust trajectory of growth and prudent financial stewardship, positioning the company favorably for sustained success in the future.
Sharekhan on Marico share price target
Sharekhan recommends purchasing Marico with a target price of Rs 620.
FAQS
What is the current share price of Marico?
As of 8th of May 2024, the current share price of Marico is ₹591.
What is the share price target of Marico for 2024-2030?
Based on various financial projections and market analysis, the target share price of Marico for 2024-2030 is expected to range between ₹689.44 to ₹1,682.67.
Can Marico reach a target of ₹5,000 by 2025?
As per our price prediction, with annual sales growth of just 10% over the last 3 years, it is difficult for Marico to reach Rs. 5000 by 2025.
How has Marico’s profit and loss statement looked in recent years?
Marico has shown steady growth in its profit and loss statement in recent years, with its net profit increasing from ₹1,043 crores in 2019 to ₹1,502 crores in 2024.
What is the current recommendation for investing in Marico shares?
Based on current market trends and financial analysis, Marico shares are considered to be a good investment opportunity for long-term growth potential. However, it is always important to conduct your research and consult with a financial advisor before making any investment decisions.
Should one invest in Marico?
Marico Limited emerges as a compelling investment opportunity, driven by its robust growth prospects and resilient financial performance. With a strong foothold in the global beauty and wellness sectors, particularly in emerging markets across Asia and Africa, Marico is well-positioned to capitalize on evolving consumer preferences. Over the past years, Marico has demonstrated consistent sales and profit growth, showcasing effective market penetration strategies and product innovation. The recently reported Q4 FY23-24 results, including a 4.9% year-on-year increase in net profit and a 1.69% year-on-year rise in revenue, further underscore Marico’s resilience and adaptability in navigating market dynamics. With a strategic focus on key segments and initiatives to enhance operational efficiency, Marico presents an attractive proposition for investors seeking exposure to a dynamic player in the consumer goods industry poised for sustained growth and value creation.
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