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 2023 to 2030, as well as analyze the viability of Marico as a promising stock to consider for investment.
LATEST NEWS ABOUT MARICO
- In the first quarter of FY24, Marico’s business in India experienced sluggish growth, primarily due to declines in sales of Saffola and Parachute oils.
HOW TO BUY MARICO SHARES?
You can buy Marico shares from the following trading platforms:
- Zerodha
- Upstox
- Groww
- AngleOne
- ICICIDirect
SHARE PRICE PREDICTION OF MARICO :2023 TO 2030
SHARE PRICE TARGET 2023 OF MARICO
| When | Maximum Price | Minimum Price |
| July 2023 | ₹565.95 | ₹514.50 |
| August 2023 | ₹577.27 | ₹524.79 |
| September 2023 | ₹590.55 | ₹536.86 |
| October 2023 | ₹573.35 | ₹521.22 |
| November 2023 | ₹584.81 | ₹531.65 |
| December 2023 | ₹602.36 | ₹547.60 |
In 2023, Marico’s share price demonstrated a positive growth trend throughout the year. The stock showed fluctuations, but overall, it exhibited an upward trajectory. In July 2023, the share price ranged between ₹514.50 and ₹565.95. As the months progressed, the share price continued to climb. In August, it reached a maximum price of ₹577.27 and a minimum of ₹524.79. In September, the share price expanded further, with a maximum of ₹590.55 and a minimum of ₹536.86.
By October, the share price experienced a slight dip, with a maximum of ₹573.35 and a minimum of ₹521.22. However, the overall trend remained positive. In November, the share price rebounded, reaching a maximum of ₹584.81 and a minimum of ₹531.65. Finally, in December 2023, the share price surged to its highest level of ₹602.36, with a minimum of ₹547.60.
Throughout the year, investors saw the share price increase by a significant percentage, indicating positive growth for Marico in 2023
SHARE PRICE TARGET 2024 OF MARICO
| When | Maximum Price | Minimum Price |
| January 2024 | ₹634.06 | ₹551.36 |
| February 2024 | ₹689.20 | ₹599.30 |
| March 2024 | ₹696.16 | ₹605.35 |
| April 2024 | ₹632.87 | ₹550.32 |
| May 2024 | ₹527.39 | ₹458.60 |
| June 2024 | ₹632.87 | ₹550.32 |
| July 2024 | ₹537.94 | ₹467.77 |
| August 2024 | ₹591.73 | ₹514.55 |
| September 2024 | ₹621.32 | ₹540.28 |
| October 2024 | ₹730.97 | ₹635.62 |
| November 2024 | ₹767.51 | ₹667.40 |
| December 2024 | ₹782.86 | ₹680.75 |
Starting from January, the share price reached a maximum of ₹634.06 and a minimum of ₹551.36. The positive trend continued into February, with a maximum price of ₹689.20 and a minimum of ₹599.30, indicating a favorable growth percentage.
As the months progressed, Marico’s share price maintained its bullish momentum. In March, it achieved a maximum of ₹696.16 and a minimum of ₹605.35. The stock exhibited a slight dip in April, with a maximum of ₹632.87 and a minimum of ₹550.32, but it quickly regained its upward movement in May, reaching a maximum of ₹527.39 and a minimum of ₹458.60.
By June, the share price surged once again, attaining a maximum and minimum of ₹632.87 and ₹550.32, respectively. The positive trend continued into July, with a maximum price of ₹537.94 and a minimum of ₹467.77. The growth story persisted into August, as the share price achieved a maximum of ₹591.73 and a minimum of ₹514.55.
September 2024 witnessed further growth, with a maximum share price of ₹621.32 and a minimum of ₹540.28. The bullish trend continued into October, where the share price surged to a maximum of ₹730.97 and a minimum of ₹635.62. In November, the share price climbed to a maximum of ₹767.51 and a minimum of ₹667.40, and in December, it reached its highest level of ₹782.86, with a minimum of ₹680.75.
SHARE PRICE TARGET 2025 OF MARICO
| When | Maximum Price | Minimum Price |
| January 2025 | ₹798.52 | ₹614.25 |
| February 2025 | ₹840.55 | ₹646.58 |
| March 2025 | ₹882.58 | ₹678.90 |
| April 2025 | ₹788.01 | ₹606.16 |
| May 2025 | ₹716.38 | ₹551.06 |
| June 2025 | ₹788.01 | ₹606.16 |
| July 2025 | ₹750.49 | ₹577.30 |
| August 2025 | ₹781.76 | ₹601.35 |
| September 2025 | ₹820.85 | ₹631.42 |
| October 2025 | ₹870.10 | ₹669.31 |
| November 2025 | ₹931.01 | ₹716.16 |
| December 2025 | ₹949.63 | ₹730.48 |
The year commenced with a strong performance in January, as the share price reached a maximum of ₹798.52 and a minimum of ₹614.25. The positive trend persisted into February, with the share price soaring to a maximum of ₹840.55 and a minimum of ₹646.58, showcasing substantial growth percentages.
As March rolled in, Marico’s share price continued to climb, achieving a maximum of ₹882.58 and a minimum of ₹678.90. The bullish trend encountered a slight dip in April, with a maximum of ₹788.01 and a minimum of ₹606.16. However, the market sentiment remained favorable, leading to renewed growth in May, as the share price attained a maximum of ₹716.38 and a minimum of ₹551.06.
June saw a repeat of the maximum and minimum share prices of ₹788.01 and ₹606.16, respectively. The positive trajectory continued into July, with the share price reaching a maximum of ₹750.49 and a minimum of ₹577.30. In August, the stock performed well, with a maximum of ₹781.76 and a minimum of ₹601.35.
September 2025 witnessed further growth, as Marico’s share price surged to a maximum of ₹820.85 and a minimum of ₹631.42. The bullish trend persisted into October, where the share price reached a maximum of ₹870.10 and a minimum of ₹669.31. In November, the share price climbed to its highest level of ₹931.01, with a minimum of ₹716.16, indicating remarkable growth percentages.
The year concluded on a positive note, with Marico’s share price achieving a maximum of ₹949.63 and a minimum of ₹730.48 in December 2025.
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 2026, the share price experienced a range between ₹664.74 (maximum) and ₹465.32 (minimum). The following year, 2027, saw a dip in the share price, with a maximum of ₹565.03 and a minimum of ₹395.52, indicating a more volatile market.
However, from 2028 onwards, Marico’s share price demonstrated a remarkable upward trajectory, signifying significant growth potential. In 2028, the share price surged to ₹1,017.05 (maximum) and ₹711.93 (minimum). This trend continued in 2029, where the share price reached a maximum of ₹2,089.18 and a minimum of ₹1,462.42, showcasing substantial growth over the previous years.
By 2030, the upward momentum persisted, with the share price reaching ₹2,326.58 (maximum) and ₹1,628.61 (minimum).The remarkable growth in the latter half of this period showcased Marico’s resilience and market appeal, making it an enticing option for investors looking for long-term gains in the consumer goods sector.
It is important to note that share prices are influenced by various factors, including market conditions, industry performance, and company-specific strategies. Therefore, investors should conduct thorough research and consider all aspects before making investment decisions in Marico or any other company’s stocks.
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 ₹949 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
Based on the provided financial information, Marico Limited appears to be a promising investment with steady growth prospects. The company has shown consistent revenue growth over the years, with sales increasing from ₹7,334 million in March 2019 to ₹9,764 million in March 2023. This demonstrates Marico’s ability to capture market opportunities and expand its consumer goods business successfully.
Moreover, the operating profit has also shown an upward trajectory, growing from ₹1,325 million in March 2019 to ₹1,810 million in March 2023. This indicates that Marico has been able to manage its expenses efficiently and maintain healthy profit margins over time, further solidifying its position in the market.
Although there have been fluctuations in net profit and dividend payout percentage, the overall trend suggests that Marico has managed to navigate market challenges and maintain profitability, resulting in consistent growth in earnings per share (EPS) from ₹8.63 in March 2019 to ₹10.07 in March 2023. This highlights the company’s ability to generate shareholder value and provide a favorable return on investment.
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