Marico Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for MARICO, BSE:531642 Marico Ltd.

Marico Ltd.

01 May 2021

736.15

-1.60%

Marico

Buy: Marico Ltd.

ICICI Securities Limited

We believe tailwind of healthier food consumption is expected to grow the foods & Saffola business in the next two to three years. Moreover, hair oils categories are also expected to witness strong growth with a mix of volumes and price hikes. It is also clear that Marico is looking to gain volumes and market share by not tinkering with prices too frequently. We maintain our...

Marico Ltd. is trading above all available SMAs

Marico Ltd.

30 Apr 2021

736.15

-1.60%

Q4FY21 Result Update - Ideal mix of growth and Value; Accumulate

Accumulate: Marico Ltd.

Target

Prabhudas Lilladhar

MRCO reported robust volume growth across categories while gross margins disappointed due to inflation in key RM prices. Although we expect volume growth to trend lower and margin pressure to sustain for next 2/3 quarters, outlook remains positive on account of 1) strategy to push volumes working in high inflationary environment in Parachute and VAHO 2) Improv ed competitive positioning of Saffola with double digit growth from 6 quarters, 3) Opportunity in Foods business with target of Rs 8.5bn revenue by FY24 and 4) Focus to increase rural reach by 25% in next 2 years. We believe near...

Marico Ltd. has an average target of 824.33 from 9 brokers.

Marico Ltd.

03 Feb 2021

736.15

-1.60%

MARICO INDUSTRIES LTD

Buy: Marico Ltd.

Target

Geojit BNP Paribas

Marico retains a strong foothold in the rural and semi-urban regions. With economic activities on the rise and demand for its products returning to near-normal levels, Marico's performance should continue to improve further from hereon. We reiterate our BUY rating on the...

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

Marico Ltd.

29 Jan 2021

736.15

-1.60%

Marico: Q3FY21 Result Review

Accumulate: Marico Ltd.

Recommendation Target

IDBI Capital

Marico (MRCO) 3QFY21 result was in line with our estimates. Strong recovery is witnessed across all categories (essential and discretionary). Food portfolio grew fastest (+74%YoY) followed by VAHO (+21%YoY) and Saffola (+17%YoY). Parachute reported volume growth of 8% YoY, ahead of the company's medium term aspiration of 5-7%. Traditional trade and e-com continued to outperform while modern trade reached precovid level. Revenue from rural India grew faster than urban India. Input cost remained largely inflationary. MRCO's new launches of Honey and Arogyam Chyawan Amrut are tracking well. Management expects near term demand to remain favorable. We broadly maintain our estimates. Due to rally in stock price our revised rating stands at...

Marico Ltd. is trading above all available SMAs

Marico Ltd.

29 Jan 2021

736.15

-1.60%

Marico

Buy: Marico Ltd.

Recommendation Target

ICICI Securities Limited

The hair oil categories has been saturated and seen a cyclical growth trends with inflationary price movement. Parachute & VAHO is expected to witness strong volume growth in medium term largely due to low base effect in next few quarters. Moreover, with the promotional offers taken off (effective price increase of 5%), prices are also likely to contribute to the revenue growth. Further, the management indicated impact of tapering down of copra prices would not result in any prices hikes & the company would be able to maintain its current margins. We expect overall revenue growth of 9.5%...

Marico Ltd. is trading above all available SMAs

Marico Ltd.

28 Jan 2021

736.15

-1.60%

Q3FY21 Result Update - All growth levers in place; Accumulate

Accumulate: Marico Ltd.

Target

Prabhudas Lilladhar

We are increasing FY21/22/23 EPS estimates marginally by 1.8/3.3/7.1% and our rating from Hold to Accumulate. MRCO has given optimistic outlook based on 1) Double digit volume growth in VAHO, 2) steady growth in parachute and Saffola and 3) scalability in oats and Honey with a target of Rs4.5-5bn sales by FY22 4) integration of Beardo acquisition 5) Structural cost savings of Rs 1.5bn in domestic business and 6) Improving growth outlook in Bangladesh and recovery in MENA. Although MRCO is near term input cost pressure in edible oils, LLP and Parachute, it has taken 15-20%...

Marico Ltd. is trading above all available SMAs

Marico Ltd.

29 Oct 2020

736.15

-1.60%

Marico: Q2FY21 Result Review

Buy: Marico Ltd.

IDBI Capital

Marico (MRCO) 2QFY21 result was in line with our estimates. Strong recovery witnessed across all categories (essential and discretionary). Food portfolio grew fastest (+55%YoY) followed by Saffola (+20%YoY) and Coconut Oil (+10%YoY). Positively, VAHO returned back to growth trajectory after 3 consecutive quarter of decline. Traditional trade and e-com continued to outperform. Revenue from rural India grew faster than urban India. Input cost remained largely inflationary and is likely to remain-so up-till 3QFY21. MRCO has launched Immuniveda and Arogyam Chyawan Amrut under Saffola brand to boost immunity based health-food portfolio. We have introduced FY23E in our...

Marico Ltd. is trading above all available SMAs

Marico Ltd.

29 Oct 2020

736.15

-1.60%

Marico

Hold: Marico Ltd.

Target

ICICI Securities Limited

Saturated hair oil category; growth prospects in foods Hair oil category is saturated with limited growth opportunity. In Parachute, ~30% category is unorganised creating limited opportunity to grow through market share gains only. Similarly, VAHO segment has become crowded with too many brands chasing a limited opportunity. We believe growth opportunity for Marico is limited to select brands in VAHO. We believe continued demand for healthier edible oil & food products would result in stronger growth for entire Saffola franchise that is contributing ~25% of...

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

Marico Ltd.

29 Oct 2020

736.15

-1.60%

Volume growth a surprise; Likely to remain healthy

Buy: Marico Ltd.

Target

Motilal Oswal

Marico's (MRCO) 2QFY21 earnings were largely in line, barring the 11% volume growth (v/s est. 7.3%). Over the past year, MRCO has witnessed remarkable recovery in its key segments Parachute, Saffola and more recently in case of VAHO. Importantly, the outlook remains strong with guidance of 8-10% volume growth in 2HFY21 as well. While the stock is up 40% since our upgrade in Mar'20, robust sales outlook and inexpensive valuations (37x FY22E, 20% discount to peer average),...

Marico Ltd. is trading above all available SMAs

Marico Ltd.

28 Oct 2020

736.15

-1.60%

Q2FY21 Result Update - Nothing to get excited about - HOLD

Hold: Marico Ltd.

Target

Prabhudas Lilladhar

We cut FY21/22/23 EPS estimates of MRCO by 2.3%, 0.8%, 1.8% even as Change in Estimates | Target | Reco MRCO remains optimistic on growth led by Edible oil, Foods portfolio, Bangladesh and Vietnam. Parachute and VAHO seem well poised for growth...

Marico Ltd. is trading above all available SMAs

Is Marico Ltd. worth buying?

525 Votes:

Buy 74.29%

Sell 14.48%

Hold 11.24%

RESEARCH REPORTS

Buy SEE REPORTS >

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Buy SEE REPORTS >

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