Marico Limited, a prominent player in India’s consumer goods industry, specializes in global beauty and wellness products. Its operations span across more than 25 countries, primarily in emerging markets of Asia and Africa.
On 13th October 1988, Marico Limited came into existence initially known as Marico Foods Limited. The company underwent a name change in 1989 and became Marico Industries Limited. In 1992, Marico established its first international office in Dubai, and subsequently, in 1996, the company was listed on the Indian stock exchange.
This article aims to explore the share price target of Marico from 2024 to 2030, as well as analyze the viability of Marico as a promising stock to consider for investment.
MARICO Q3 FY24 Result Highlight
- Marico Limited’s Q3 results show a 16% rise in net profit to Rs 386 crore, despite a 2% decline in total revenue to Rs 2,422 crore.
- Earnings before interest, tax, depreciation, and amortization (EBITDA) increased by 12.5% to Rs 513 crore, with an EBIDTA margin expansion of 270 basis points to 21.2%.
- CEO Saugata Gupta remains optimistic about Marico’s performance, citing stable market share in key portfolios and a 2% volume growth in the domestic segment.
- Despite macroeconomic challenges, international markets sustained mid-single digit growth, showcasing Marico’s resilience.
- Marico plans to drive growth through traditional channels and strategic brand-building initiatives, aiming for improved consumption trends and operating margin expansion in the upcoming fiscal year.
HOW TO BUY MARICO SHARES?
You can buy Marico shares from the following trading platforms:
- Zerodha
- Upstox
- Groww
- AngleOne
- ICICIDirect
SHARE PRICE TARGET 2024 OF MARICO
| When | Maximum Price | Minimum Price |
| March 2024 | 506.00 | 440.00 |
| April 2024 | 491.26 | 427.18 |
| May 2024 | 484.00 | 420.87 |
| June 2024 | 501.43 | 436.02 |
| July 2024 | 496.41 | 431.66 |
| August 2024 | 516.27 | 448.93 |
| September 2024 | 536.92 | 466.89 |
| October 2024 | 526.39 | 457.73 |
| November 2024 | 547.45 | 476.04 |
| December 2024 | 552.92 | 480.80 |
Throughout 2024, Marico’s stock price is expected to experience fluctuations. In March, the maximum price is forecasted to reach 506.00 rupees, while the minimum could dip to 440.00 rupees. As the months progress, both the maximum and minimum prices are anticipated to fluctuate, with December marking a peak as the maximum price is projected to reach 552.92 rupees and the minimum to be 480.80 rupees.
SHARE PRICE TARGET 2025 OF MARICO
| When | Maximum Price | Minimum Price |
| January 2025 | 553.47 | 425.75 |
| February 2025 | 554.58 | 426.60 |
| March 2025 | 566.23 | 435.56 |
| April 2025 | 555.13 | 427.02 |
| May 2025 | 538.96 | 414.58 |
| June 2025 | 563.21 | 433.24 |
| July 2025 | 552.17 | 424.74 |
| August 2025 | 569.25 | 437.88 |
| September 2025 | 576.08 | 443.14 |
| October 2025 | 591.05 | 454.66 |
| November 2025 | 605.83 | 466.02 |
| December 2025 | 633.09 | 486.99 |
Throughout 2025, Marico’s stock price is expected to show a gradual upward trend with occasional fluctuations. In January, the maximum price is anticipated to reach 553.47 rupees, while the minimum could be around 425.75 rupees. As the year progresses, both the maximum and minimum prices are projected to steadily rise, culminating in December with the maximum price potentially reaching 633.09 rupees and the minimum around 486.99 rupees. Investors may find potential opportunities in Marico’s stock as it demonstrates consistent growth throughout the year.
MARICO SHARE PRICE PREDICTION 2026-2030
| Year | Maximum Price | Minimum Price |
| 2026 | ₹664.74 | ₹465.32 |
| 2027 | ₹565.03 | ₹395.52 |
| 2028 | ₹1,017.05 | ₹711.93 |
| 2029 | ₹2,089.18 | ₹1,462.42 |
| 2030 | ₹2,326.58 | ₹1,628.61 |
In the upcoming year of 2026, we foresee the maximum price hitting ₹664.74, offering potential gains, while the minimum price may stabilize around ₹465.32, providing a baseline for investment considerations. Moving forward to 2027, we anticipate a slight dip in prices, with the maximum expected to be ₹565.03 and the minimum likely around ₹395.52, signaling potential shifts in market dynamics. As we progress to 2028, the market is expected to witness significant growth, with the maximum price forecasted to soar to ₹1,017.05 and the minimum projected to rise to ₹711.93, presenting opportunities for investors to capitalize on favorable market conditions. Looking further into 2029, the trend continues with the maximum price anticipated to reach ₹2,089.18 and the minimum expected to climb to ₹1,462.42, suggesting a sustained upward trajectory in market performance. Finally, in 2030, we project the maximum price to rise to ₹2,326.58, with the minimum likely to stabilize around ₹1,628.61, indicating continued growth potential in the market.
FINANCIAL CONDITION OF MARICO :LAST 5 YEARS
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
| Sales | 7,334 | 7,315 | 8,048 | 9,512 | 9,764 |
| Expenses | 6,009 | 5,846 | 6,459 | 7,831 | 7,954 |
| Operating Profit | 1,325 | 1,469 | 1,589 | 1,681 | 1,810 |
| OPM % | 18% | 20% | 20% | 18% | 19% |
| Other Income | 103 | 95 | 107 | 98 | 144 |
| Interest | 40 | 50 | 34 | 39 | 56 |
| Depreciation | 131 | 140 | 139 | 139 | 155 |
| Profit before tax | 1,257 | 1,374 | 1,523 | 1,601 | 1,743 |
| Tax % | 10% | 24% | 21% | 22% | 24% |
| Net Profit | 1,131 | 1,043 | 1,199 | 1,255 | 1,322 |
| EPS in Rs | 8.63 | 7.91 | 9.08 | 9.48 | 10.07 |
| Dividend Payout % | 55% | 85% | 83% | 97% | 45% |
In the fiscal year ending March 2019, the company’s sales amounted to ₹7,334 million, which slightly decreased to ₹7,315 million in March 2020 but rebounded and significantly increased to ₹8,048 million in March 2021. In the subsequent fiscal years, sales continued to rise, reaching ₹9,512 million in March 2022 and further increasing to ₹9,764 million in March 2023.
Operating Profit (OP) followed a similar trend, with an upward trajectory over the years. Starting at ₹1,325 million in March 2019, it consistently increased, reaching ₹1,810 million in March 2023. The Operating Profit Margin (OPM %) remained relatively stable, fluctuating between 18% and 20%.
However, the effective tax rate increased from 10% in March 2019 to 24% in March 2023, affecting the Net Profit, which reached ₹1,131 million in March 2019, dropped to ₹1,043 million in March 2020, and then recovered to ₹1,322 million in March 2023.
Despite fluctuations in Net Profit, the company’s Earnings Per Share (EPS) steadily increased over the years, from ₹8.63 in March 2019 to ₹10.07 in March 2023, indicating positive growth and shareholder value.
The Dividend Payout % witnessed fluctuations, ranging from 45% in March 2023 to 97% in March 2022. This suggests that the company allocated different proportions of its profits to dividends during these years.
Overall, Marico Limited’s financial performance demonstrates consistent growth in sales and profitability, with prudent dividend distribution, reflecting its resilience in the consumer goods industry over the years.
FAQS
WHAT IS THE SHARE PRICE TARGET OF MARICO FOR 2025?
Marico share price might reach around ₹ 633.09 by the end of 2025.
WHAT IS THE SHARE PRICE TARGET OF MARICO FOR 2030?
Marico share price might reach around ₹2,326 by the end of 2030.
WHAT HAS BEEN THE OPERATING PROFIT MARGIN(OPM) OVER THE LAST FIVE YEARS ?
The Operating Profit Margin of years 2019,2020,2021,2022 and 2023 are 18%,20%,20%,18% and 19%.
IS IT ADVISABLE FOR INVESTORS TO CONTEMPLATE PURCHASING SHARES OF MARICO BASED ON ITS PROJECTED SHARE PRICE TARGETS ?
While projected share price targets can provide guidance, it is essential to conduct thorough research and analysis before making any investment decisions. Investors should consider various factors, such as the company’s financial performance, industry trends, and market conditions, before making any investment decisions.
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CONCLUSION
Marico Limited stands out as a promising investment opportunity, showcasing steady growth potential and resilience in the face of market fluctuations. Over the past years, the company has exhibited consistent revenue expansion, with sales surging from ₹7,334 crores in March 2019 to ₹9,764 crores in March 2023, a testament to its ability to capitalize on market dynamics and bolster its presence in the consumer goods sector. Moreover, Marico has demonstrated a commendable uptrend in operating profit, escalating from ₹1,325 crores in March 2019 to ₹1,810 crores in March 2023, indicating efficient cost management and sustained profitability. Despite occasional fluctuations in net profit and dividend payouts, Marico has maintained an upward trajectory in earnings per share (EPS), rising from ₹8.63 in March 2019 to ₹10.07 in March 2023, underscoring its commitment to creating value for shareholders and delivering favorable investment returns.
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