Marico Share Price Target Forecast 2022, 2023, 2025, 2030

12 January, 2022

HDFC Securities has added Marico with a target price of Rs 580.

Marico got an add call from HDFC Securities with a target price of Rs 580. Marico Ltd. is now trading at Rs 505.45. Marico Ltd.’s price can achieve a stated objective in one year, according to the analyst.

Marico Ltd., founded in 1988, is a large-cap business in the FMCG industry with a market capitalization of Rs 65178.53 crore.

Edible Oil, Others, Personal Care, Export Incentives, and Scrap are among Marico Ltd.’s primary products/revenue segments for the fiscal year ending 31-Mar-2021.

Financials

The firm reported a Consolidated Total Income of Rs 2444.00 Crore for the quarter ended September 30, 2021, down -4.23 percent from the previous quarter’s Total Income of Rs 2552.00 Crore but up 21.23 percent from the same period last year’s Total Income of Rs 2016.00 Crore. In the most recent quarter, the company generated a net profit after tax of Rs 316.00 crore.

Reasons for Investing

The brokerage models predict a 339 basis point drop in GM to 43.5 percent year over year (-223bps in Q3FY21 and -556bps in Q2FY22). EBITDA margin is expected to fall by 179 basis points to 17.7% year over year (-99bps in Q3FY21 and -207bps in Q2FY22). EBITDA is expected to increase by 3% year over year.

FII Holdings/Promoter

As of September 30, 2021, promoters controlled 59.52 percent of the firm, FIIs 25.92 percent, and DIIs 8.5 percent.

economictimes.com is the source for this information.


29 OCTOBER 2021

Sharekhan: Marico Share Price Target 2022; Buy For Rs 645

Marico has Sharekhan’s support. On October 28, 2021, he issued a buy recommendation on the stock with a Revised Target Price (PT) of Rs. 645 in his research report.

Marico’s performance in Q2FY2022 was substantially in line with expectations, with sales up 20%+ and reported PAT up 7% owing to ongoing raw material inflation. India’s business volume grew at an annual rate of 8%. The Parachute portfolio increased by 18% year over year, while the VAHO portfolio increased by 16% year over year.

Saffola’s revenue increased by 46 percent in the first quarter (entirely value-based growth). During the quarter, international commerce increased by 13% (CC growth), with Bangladesh and the MENA area seeing 16% and 20% (constant currency) growth, respectively.

During the quarter, about 90% of the company’s product line attained market share. Management has maintained its focus on attaining revenue growth in the mid-teens in the medium term, with an OPM of around 19 percent.

Outlook

Marico’s primary development levers in the short to medium term are gaining market share in its core domestic portfolio through new launches, increasing the food sector, and boosting growth prospects in countries like Bangladesh and Vietnam. Inflationary tendencies are easing, and OPM is forecast to improve in Q4FY2022.

In this message, we’ve included our forecasts for FY2024. The stock is now trading at 45.3x/40.5x expected earnings in FY2023E/FY2024E. The company’s focus on premiumizing the core, increasing the food line, building digital brands, and risking our business model by managing expenses is appealing to us. With a revised target price (PT) of Rs 645, we retain our buy rating on the stock.

Moneycontrol.com is the source for this information.


29 OCTOBER 2021

Marico is expected to gain 18 percent , despite a dip in earnings in the previous quarter.

Marico’s stock drew market interest the day after the business released its September quarter earnings. The FMCG company’s consolidated sales increased by 22% year over year to Rs 2,419 crore on October 28, up from Rs 1,989 crore the previous year. The company’s sales fell 4% sequentially from Rs 2,525 crore in the preceding quarter.

The company’s profit after tax (PAT) increased by 8% to Rs 309 crore from Rs 285 crore in the previous quarter (excluding extraordinary items). Business in India increased by 8% year over year, while overseas markets increased by 13% yearly on a constant currency basis. CLSA, a global research group, kept its ‘underperform’ rating on the stock and boosted the price target. The consensus is that Q2 results were in line with expectations, but that prices limited the upside. The brokerage believes that increasing mobility would assist, but that margin pressure will continue in the near future.

In the short term, the company anticipates a modest increase in gross margin, with EBITDA growth anticipated to begin in Q4. The analyst firm has lowered its EPS forecast for FY22 by 6%.

Credit Suisse, on the other hand, has upgraded the company to ‘outperform’ with a target price of Rs 630 per share, up 11% from current levels. According to the research firm, the company’s growth in the second quarter outpaced its competitors. Marico’s gross margin increased by 150 basis points year over year and is expected to continue to rise. However, from Q4 onwards, it appears that margins will begin to widen. Its profits for FY22 have improved by 3%.

Morgan Stanley has rated Marico’s stock as ‘overweight,’ with a target price of Rs 670 per share, which is 18% higher than the current market price. According to the research company, second-quarter results were slightly below expectations but ahead of consensus. The plan to improve the core business while developing non-core business is on track, according to the report.

Moneycontrol.com is the source for this information.


06 OCTOBER 2021

Marico’s stock price reaches new highs in Q2 due to strong business growth.

On October 6, Marico’s stock jumped 3% after the FMCG company said it had seen positive consumer sentiment across all categories. “During the quarter, the sector showed an improvement in demand trends as the level of mobility improved with the reduction of COVID-19 infections and the intensifying vaccination effort,” the business stated in a regulatory filing. Out-of-home spending and discretionary categories were also clearly identified.”

Marico was trading at Rs 574.20 at 12:48 p.m., up Rs 16.30 or 2.92 percent. It has risen to Rs 590, its 52-week high. The stock was trading at a volume of 263,839 shares, up 449.07 percent from the five-day average of 48,052 shares.

“On a two-year CAGR (compound annual growth rate) basis, revenue growth in the quarter was in the low twenties, with volume increase close to double digits,” the business added. While ‘Parachute’ coconut oil met the firm’s medium-term goals, its value-added hair oil saw double-digit volume increase, according to the company. Marico, on the other hand, claims that its food division is “growing smartly” and would produce Rs 500 crore in sales this year.

On the international front, the company stated it experienced double-digit constant currency growth as favourable trends were noticed in all markets except Vietnam, where a major amount of its portfolio is discretionary in character and “susceptible to a catastrophic crisis.” “.. In terms of the forecast, it stated that gross margins are projected to increase modestly from the previous quarter, but would remain under pressure on a year-over-year basis due to extremely high input prices.

Citi has maintained a buy recommendation on the company, with a target price of Rs 595 per share. While the main categories of coconut oil and value-added hair oil continue to exhibit excellent growth patterns, smaller areas in both foodservice and personal care are expected to have strong growth trends, according to a study by CNBC-TV18. The edible oil portfolio, which had a pretty bad quarter, is the sole exception, according to the research firm.

Meanwhile, CLSA has assigned the company an underperform rating with a target price of Rs 550 per share. The consensus is that a solid topline but shrinking margins will lead to minimal earnings growth. According to the brokerage business, total topline growth is forecast to be 19 percent, with volume growth of 10% in India.

Moneycontrol.com is the source for this information.


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