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Marico Overview

Marico Limited is a consumer products enterprise working in the health, beauty and wellness space. The Company's foremost merchandise consist of edible oils, hair care and personal care. The Company gives various brands in the classes of hair care, pores and skin care, fit to be eaten oils, wholesome ingredients, hygiene, male grooming, and fabric care. Its portfolio of brands includes Parachute Advansed, Hair & Care, Nihar Naturals, Livon, Set Wet, Set Wet Studio X, Veggie Clean,Parachute, Saffola, Saffola FITTIFY Gourmet, Coco Soul, Kaya Yout...Read More

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Marico Key Financials

Market Cap ₹97975 Cr.

Stock P/E 59.1

P/B 21.7

Current Price ₹754.8

Book Value ₹ 34.8

Face Value 1

52W High ₹780

Dividend Yield 1.39%

52W Low ₹ 577.9

Marico Share Price

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Volume
Price

Marico Quarterly Price

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Marico Peer Comparison

Marico Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 2476 2422 2278 2643 2664 2794 2730 3259 3482 3537
Other Income 38 43 15 37 82 42 47 56 49 39
Total Income 2514 2465 2293 2680 2746 2836 2777 3315 3531 3576
Total Expenditure 1979 1909 1836 2017 2142 2261 2272 2604 2922 2945
Operating Profit 535 556 457 663 604 575 505 711 609 631
Interest 20 19 17 17 11 13 12 10 12 14
Depreciation 39 42 41 41 41 44 52 45 47 50
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 476 495 399 605 552 518 441 656 550 567
Provision for Tax 116 109 79 131 119 112 96 143 118 107
Profit After Tax 360 386 320 474 433 406 345 513 432 460
Adjustments -7 -3 -2 -10 -10 -7 -2 -9 -12 -13
Profit After Adjustments 353 383 318 464 423 399 343 504 420 447
Adjusted Earnings Per Share 2.7 3 2.5 3.6 3.3 3.1 2.7 3.9 3.2 3.4

Marico Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 5733 6017 5918 6322 7334 7315 8048 9512 9764 9653 10831 13008
Other Income 59 94 97 85 103 127 97 101 144 175 208 191
Total Income 5792 6111 6015 6407 7437 7442 8145 9613 9908 9828 11039 13199
Total Expenditure 4863 4966 4759 5186 6008 5849 6460 7834 7954 7660 8693 10743
Operating Profit 929 1145 1257 1221 1429 1593 1685 1779 1954 2168 2346 2456
Interest 23 21 17 16 40 50 34 39 56 73 53 48
Depreciation 84 95 90 88 131 140 139 139 155 158 177 194
Exceptional Income / Expenses 0 0 0 0 0 -29 13 0 0 0 0 0
Profit Before Tax 822 1029 1149 1117 1257 1374 1523 1601 1743 1937 2116 2214
Provision for Tax 237 305 338 290 126 331 324 346 421 435 458 464
Profit After Tax 585 723 811 827 1131 1043 1199 1255 1322 1502 1658 1750
Adjustments -11 -12 -12 -13 -17 -22 -27 -30 -20 -21 -29 -36
Profit After Adjustments 573 711 799 814 1114 1021 1172 1225 1302 1481 1629 1714
Adjusted Earnings Per Share 4.4 5.5 6.2 6.3 8.6 7.9 9.1 9.5 10.1 11.5 12.6 13.2

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 12% 4% 8% 7%
Operating Profit CAGR 8% 10% 8% 10%
PAT CAGR 10% 10% 10% 11%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 17% 15% 13% 13%
ROE Average 43% 40% 40% 38%
ROCE Average 51% 48% 47% 45%

Marico Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 1825 2017 2326 2543 2976 3023 3240 3348 3799 3833 3974
Minority's Interest 14 14 13 12 12 13 18 57 157 337 291
Borrowings 169 0 0 20 14 10 8 0 2 0 0
Other Non-Current Liabilities 17 -29 35 39 -18 12 45 41 413 740 1554
Total Current Liabilities 1102 1565 1249 1458 1724 1753 2013 2153 2429 2444 2462
Total Liabilities 3125 3568 3623 4072 4708 4811 5324 5599 6800 7354 8281
Fixed Assets 1076 1050 1055 1080 1283 1379 1595 1738 2230 2709 2743
Other Non-Current Assets 221 159 179 198 225 283 393 356 750 642 455
Total Current Assets 1828 2346 2377 2794 3188 3141 3322 3505 3813 3998 5083
Total Assets 3125 3568 3623 4072 4708 4811 5324 5599 6800 7354 8281

Marico Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 224 79 93 43 51 48 93 109 276 207 228
Cash Flow from Operating Activities 665 818 649 516 1062 1214 2007 1016 1419 1387 1363
Cash Flow from Investing Activities -179 -197 -92 55 -334 -39 -938 425 -865 176 -621
Cash Flow from Financing Activities -625 -601 -574 -567 -698 -1147 -1058 -1290 -560 -1542 -649
Net Cash Inflow / Outflow -140 20 -17 4 30 28 11 151 -6 21 93
Closing Cash & Cash Equivalent 77 93 43 51 48 93 109 276 207 228 321

Marico Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 4.45 5.51 6.19 6.31 8.64 7.91 9.09 9.5 10.09 11.48 12.63
CEPS(Rs) 5.19 6.34 6.98 7.09 9.78 9.17 10.37 10.81 11.45 12.87 14.22
DPS(Rs) 2.5 6.75 3.5 4.25 4.75 6.75 7.5 9.25 4.5 9.5 10.5
Book NAV/Share(Rs) 14.12 15.59 17.96 19.63 22.92 23.24 24.89 25.74 29.12 29.17 30.11
Core EBITDA Margin(%) 15.15 17.45 19.53 16.54 16.7 18.2 17.95 15.91 16.42 17.83 17.04
EBIT Margin(%) 14.71 17.43 19.63 16.49 16.33 17.67 17.6 15.55 16.32 17.99 17.29
Pre Tax Margin(%) 14.31 17.08 19.35 16.26 15.83 17.05 17.21 15.18 15.81 17.33 16.87
PAT Margin (%) 10.19 12.01 13.66 12.04 14.24 12.95 13.55 11.9 11.99 13.44 13.22
Cash Profit Margin (%) 11.66 13.58 15.18 13.32 15.89 14.68 15.12 13.21 13.4 14.85 14.63
ROA(%) 19.19 21.62 22.56 21.49 25.76 21.91 23.66 22.98 21.32 21.22 21.21
ROE(%) 36.76 37.75 37.47 34.1 41.21 35.03 38.62 38.43 37.36 39.95 43.36
ROCE(%) 39.35 45.64 47.43 41.81 41.95 42.58 44.79 45.03 45.16 47.35 50.62
Receivable days 12.71 12.99 15.34 15.59 19.7 23.92 19.12 17.99 27.6 34.03 34.04
Inventory Days 56.93 58.17 66.99 73.44 67.15 63.22 51.68 43.91 43.66 41.82 37.4
Payable days 74.53 86.66 105.01 95.3 91.98 107.61 100.01 92.75 107.65 131.67 110.99
PER(x) 43.53 43.97 47.57 51.68 39.98 34.73 45.29 53.04 47.53 43.28 51.59
Price/Book(x) 13.71 15.56 16.39 16.61 15.06 11.83 16.53 19.56 16.48 17.03 21.64
Dividend Yield(%) 0.65 2.78 1.19 1.3 1.38 2.46 1.82 1.84 0.94 1.91 1.61
EV/Net Sales(x) 4.39 5.2 6.42 6.67 6.05 4.86 6.52 6.81 6.31 6.58 7.72
EV/Core EBITDA(x) 27.11 27.33 30.23 34.54 31.03 22.29 31.15 36.39 31.53 29.31 35.65
Net Sales Growth(%) 22.33 4.96 -1.65 6.83 16.01 -0.26 10.02 18.19 2.65 -1.14 12.2
EBIT Growth(%) 15.85 24.33 10.97 -2.77 14.47 9.79 9.34 5.33 9.7 11.73 7.91
PAT Growth(%) 16.02 23.67 12.12 1.98 36.76 -7.78 14.96 4.67 5.34 13.62 10.39
EPS Growth(%) 18.13 24.05 12.22 1.97 36.86 -8.35 14.79 4.52 6.29 13.75 9.99
Debt/Equity(x) 0.23 0.16 0.1 0.12 0.12 0.11 0.11 0.1 0.13 0.1 0.1
Current Ratio(x) 1.66 1.5 1.9 1.92 1.85 1.79 1.65 1.63 1.57 1.64 2.06
Quick Ratio(x) 0.76 0.91 0.91 0.89 1.04 1.02 1.09 0.97 1.07 1.09 1.56
Interest Cover(x) 36.8 49.07 70.28 70.81 32.43 28.48 45.79 42.05 32.13 27.53 40.92
Total Debt/Mcap(x) 0.02 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0

Marico Shareholding Pattern

# Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Promoter 59.4 59.39 59.35 59.28 59.2 59.11 59.05 59.03 58.94 58.93
FII 25.91 25.69 25.54 24.61 24.87 23.36 22.08 23.62 24.21 24.01
DII 9.59 9.73 9.88 11.2 11.13 12.78 14.2 12.7 11.98 12.33
Public 5.09 5.19 5.22 4.9 4.8 4.76 4.66 4.65 4.87 4.72
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Marico News

Marico Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 40%
  • Debtor days have improved from 131.67 to 110.99days.
  • Company is almost debt free.

Cons

  • Stock is trading at 21.7 times its book value.
  • The company has delivered a poor profit growth of 9% over past five years.
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