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Economic Times
2 days ago
- Business
- Economic Times
I-Sec maintains Add on Marico, target price Rs 740: ICICI Securities
ICICI Securities maintains an Add call on Marico, setting a target price of Rs 740. The brokerage anticipates a revenue, EBITDA, and PAT CAGR of 11%, 14%, and 11% respectively, from FY25-27E. This growth is expected to be driven by market share gains, expansion in foods and premium personal care, and strong international performance. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads (Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.) ICICI Securities has maintained the Add call on Marico with a target price of Rs 740. The current market price of Marico is Rs 704.3. Marico, incorporated in 1988, is a Large Cap company wiht a market cap of Rs 91049.83 crore, operating in the FMCG key products/revenue segments include Edible Oil, Others, Personal Care, Export Incentives, Scrap for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 2777.00 crore, down -2.08 % from last quarter Total Income of Rs 2836 crore and up 21.11% from last year same quarter Total Income of Rs 2293 crore. The company has reported net profit after tax of Rs 345.00 crore in the latest company's top management includes Mariwala, Bali, Purohit, Vasudeva, Barve, Sankaranarayanan, Mariwala, Mariwala, Khattau, Gupta, Bharti Mittal. Company has B S R & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 130 crore shares Securities expects Marico to deliver revenue / EBITDA / PAT CAGR of 11/14/11 (%) over FY25-27E. In their view, Marico could deliver double-digit revenue growth over medium term through consistent outperformance vs peers driven by 1) market share gains in core India portfolios, 2) accelerated growth in foods and premium personal care, and 3) double-digit constant currency growth in international business. The brokerage also expects operating margin to improve in medium term with moderation in RM inflation, leverage benefits and premiumisation of the portfolio. They maintain ADD with a DCF-based target price of Rs 740. At the target price, the stock will trade at 47x P/E multiple for Mar' downside risks are higher-than-expected inflation in copra prices, execution misses and risks associated with leadership changes. Upside risk includes Better-than-expected performance in D2C brands and faster-than-expected recovery in core held 59.05 per cent stake in the company as of 31-Mar-2025, while FIIs owned 22.09 per cent, DIIs 13.98 per cent.
Time of India
2 days ago
- Business
- Time of India
I-Sec maintains Add on Marico, target price Rs 740: ICICI Securities
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel ICICI Securities has maintained the Add call on Marico with a target price of Rs 740. The current market price of Marico is Rs 704.3. Marico, incorporated in 1988, is a Large Cap company wiht a market cap of Rs 91049.83 crore, operating in the FMCG key products/revenue segments include Edible Oil, Others, Personal Care, Export Incentives, Scrap for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 2777.00 crore, down -2.08 % from last quarter Total Income of Rs 2836 crore and up 21.11% from last year same quarter Total Income of Rs 2293 crore. The company has reported net profit after tax of Rs 345.00 crore in the latest company's top management includes Mariwala, Bali, Purohit, Vasudeva, Barve, Sankaranarayanan, Mariwala, Mariwala, Khattau, Gupta, Bharti Mittal. Company has B S R & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 130 crore shares Securities expects Marico to deliver revenue / EBITDA / PAT CAGR of 11/14/11 (%) over FY25-27E. In their view, Marico could deliver double-digit revenue growth over medium term through consistent outperformance vs peers driven by 1) market share gains in core India portfolios, 2) accelerated growth in foods and premium personal care, and 3) double-digit constant currency growth in international business. The brokerage also expects operating margin to improve in medium term with moderation in RM inflation, leverage benefits and premiumisation of the portfolio. They maintain ADD with a DCF-based target price of Rs 740. At the target price, the stock will trade at 47x P/E multiple for Mar' downside risks are higher-than-expected inflation in copra prices, execution misses and risks associated with leadership changes. Upside risk includes Better-than-expected performance in D2C brands and faster-than-expected recovery in core held 59.05 per cent stake in the company as of 31-Mar-2025, while FIIs owned 22.09 per cent, DIIs 13.98 per cent.
Time of India
07-05-2025
- Business
- Time of India
Add Marico, target price Rs 785: HDFC Securities
Marico's key products/revenue segments include Edible Oil, Others, Personal Care, Export Incentives, Scrap for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 2,777 crore, down -2.08% from last quarter Total Income of Rs 2,836 crore and up 21.11% from last year same quarter Total Income of Rs 2,293 crore. The company has reported net profit after tax of Rs 345 crore in the latest quarter. The company?s top management includes Mariwala, Bali, Purohit, Vasudeva, Barve, Sankaranarayanan, Mariwala, Mariwala, Khattau, Gupta, Bharti Mittal. Company has B S R & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 130 crore shares outstanding. Live Events Investment Rationale Marico's Q4FY25 results were ahead of HDFC Securities' estimates, with domestic volume growth of 7% vs. our expectations of 4-5%, higher owing to solid offtake in foods and digital first brands. However, profitability remained strained, given the inflation in key RM and high advertising costs. The brokerage maintains its Add rating on Marico with a target price of Rs 785/share (50x its FY27 consolidated EPS, 22% premium to its 5-yr average PE), with revenue/EBITDA/PAT CAGRs of 9/11/11% for FY25-FY28E. In our view, the growth will be driven by 1) strong performance of the domestic business led by Parachute (estimating MSD volume growth), Saffola edible oil (price hike led growth), VAHO (easing competitive intensity), and improving profitability of the foods and digital-first business and 2) sustained double-digit CCG momentum in the international business (reported numbers to improve as currency headwinds subside). Promoter/FII Holdings Promoters held 59.05 per cent stake in the company as of 31-Mar-2025, while FIIs owned 22.09 per cent, DIIs 13.98 per cent. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel HDFC Securities has an Add call on Marico with a target price of Rs 785. The current market price of Marico is Rs 716.5. Marico, incorporated in 1988, is a Large Cap company with a market cap of Rs 92589.21 crore, operating in the FMCG key products/revenue segments include Edible Oil, Others, Personal Care, Export Incentives, Scrap for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 2,777 crore, down -2.08% from last quarter Total Income of Rs 2,836 crore and up 21.11% from last year same quarter Total Income of Rs 2,293 crore. The company has reported net profit after tax of Rs 345 crore in the latest company?s top management includes Mariwala, Bali, Purohit, Vasudeva, Barve, Sankaranarayanan, Mariwala, Mariwala, Khattau, Gupta, Bharti Mittal. Company has B S R & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 130 crore shares Q4FY25 results were ahead of HDFC Securities' estimates, with domestic volume growth of 7% vs. our expectations of 4-5%, higher owing to solid offtake in foods and digital first brands. However, profitability remained strained, given the inflation in key RM and high advertising costs. The brokerage maintains its Add rating on Marico with a target price of Rs 785/share (50x its FY27 consolidated EPS, 22% premium to its 5-yr average PE), with revenue/EBITDA/PAT CAGRs of 9/11/11% for FY25-FY28E. In our view, the growth will be driven by 1) strong performance of the domestic business led by Parachute (estimating MSD volume growth), Saffola edible oil (price hike led growth), VAHO (easing competitive intensity), and improving profitability of the foods and digital-first business and 2) sustained double-digit CCG momentum in the international business (reported numbers to improve as currency headwinds subside).Promoters held 59.05 per cent stake in the company as of 31-Mar-2025, while FIIs owned 22.09 per cent, DIIs 13.98 per cent. (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
