Name: Latest research reports of Marico Ltd. authored by Motilal Oswal and published by - Trendlyne research reports.
Item: Marico Ltd.
Rating: 5
Author: Motilal Oswal

Marico Ltd.

14 Nov 2025

739.90

0.51%

Improving growth trajectory; all eyes on GM recovery

Buy: Marico Ltd.

Target

Motilal Oswal

Marico (MRCO) reported a consolidated revenue growth of 31% YoY (in line) in 2QFY26. Domestic revenue growth was 35% YoY with volume growth of 7%.

ICICI Direct increased Buy price target of Marico Ltd. to 870.0 on 17 Nov, 2025.

LG Electronics India Ltd.

14 Nov 2025

1642.40

-2.46%

Margin under pressure amid external headwinds

Buy: LG Electronics India Ltd.

Target

Motilal Oswal

LG Electronics India’s (LGEIL) 2QFY26 revenue inched up ~1% YoY to INR61.7b. However, EBITDA declined ~28% YoY to INR5.5b.

No SMAs available

IRB Infrastructure Developers Ltd.

14 Nov 2025

43.67

-0.68%

Steady operating performance; outlook improves

Buy: IRB Infrastructure Develop...

Recommendation Target

Motilal Oswal

Revenue grew 10% YoY to INR17.5b in 2QFY26 (in line). Revenue included a gain from InvITs & related assets as per fair value measurement and dividend/interest income from InvITs & related assets.

IRB Infrastructure Developers Ltd. is trading below its 100 day SMA of 44.6

Indraprastha Gas Ltd.

14 Nov 2025

201.40

-1.30%

Margin expansion ahead!

Buy: Indraprastha Gas Ltd.

Motilal Oswal

In 2QFY26, Indraprastha Gas (IGL)’s EBITDA/scm margin came in 9% below our estimate at INR5.2, primarily driven by higher gas costs due to the rising share of R-LNG in gas sourcing.

Indraprastha Gas Ltd. is trading below all available SMAs

Hero MotoCorp Ltd.

14 Nov 2025

6002.50

0.05%

Steady quarter

Buy: Hero MotoCorp Ltd.

Target

Motilal Oswal

Hero MotoCorp’s (HMCL) 2QFY26 PAT at INR13.9b came in slightly below our est. of INR14.4b, largely due to lower other income. Margins expanded on the back of revenue growth and operational efficiencies.

Hero MotoCorp Ltd. has an average target of 5574.88 from 8 brokers.

Vishal Mega Mart Ltd.

14 Nov 2025

130.92

-3.28%

Superior growth performance to continue

Buy: Vishal Mega Mart Ltd.

Target

ICICI Securities Limited

VMM sustained its strong growth momentum (+22.4% YoY revenue growth), driven by 12.8% SSSG and healthy retail area expansion. Profitability surprised us positively, driven by better revenue mix (higher apparel sales), operational efficiencies and operating leverage.

Vishal Mega Mart Ltd. is trading below its 30 day SMA of 142.9

Power Mech Projects Ltd.

14 Nov 2025

2378.60

-1.56%

A good first half; strong order outlook on thermal power tailwinds

Buy: Power Mech Projects Ltd.

Recommendation Target

ICICI Securities Limited

Power Mech (POWM) delivered a good first half, with its adj. revenue/EBITDA up 10%/13% YoY. Historically, it has been delivering a much better H2 – in a full year, POWM has been doing ~2.5x its H1 revenue (in last three years).

Power Mech Projects .. has an average target of 3489.67 from 3 brokers.

Pfizer Ltd.

14 Nov 2025

5000.50

-0.56%

Growth momentum accelerating

Buy: Pfizer Ltd.

Recommendation Target

ICICI Securities Limited

Pfizer’s Q2FY26 revenue grew at a faster pace of 9.1% YoY, surpassing IPM growth of ~8%. Rebound in growth across key brands has helped the company grow faster in the otherwise prevalent sluggish growth scenario for acute therapies.

Pfizer Ltd. is trading above its 200 day SMA of 4925.8

Life Insurance Corporation of India

14 Nov 2025

902.40

-0.65%

GST-driven volume growth could just be the trigger; risk-reward favourable

Buy: Life Insurance Corporation...

ICICI Securities Limited

LIC has been able to deliver on strong VNB growth since listing, driven by all the right initiatives such as increase in non-par mix, increase in non-agency channel mix and strengthening digital initiatives.

Life Insurance Corporation of India is trading above all available SMAs

Lemon Tree Hotels Ltd.

14 Nov 2025

153.75

0.85%

Aurika Mumbai ramp-up remains key

Buy: Lemon Tree Hotels Ltd.

Target

ICICI Securities Limited

Lemon Tree Hotels (LEMONTRE) reported muted Q2FY26 consol. revenue of INR 3.1bn (up 8% YoY) – in line with ISec’s estimate – as portfolio ARRs (including Mumbai Aurika) grew 6% YoY.

Lemon Tree Hotels Ltd. is trading above its 200 day SMA of 148.2