Marico

₹585.8 4.4 | 0.8%

WEBSITE BSE:531642 NSE : MARICOLTD 10 May, 16:01

Market Cap ₹75802 Cr.

Stock P/E 51.0

P/B 19.8

Current Price ₹585.8

Book Value ₹ 29.6

Face Value 1

52W High ₹598.2

Dividend Yield 1.62%

52W Low ₹ 486.8

Edit Ratio

Marico Research see more...

Overview Inc. Year: 1988Industry: Consumer Food

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 Youth, Revive, Veggie Clean, Parachute Advansed Coconut Creme Oil, Revive,Travel Protect, House Protect, Mediker, Parachute Advansed Body Lotion, and Beardo. Its international portfolio includes brands, which include Fiancee, Hair Code, Caivil, Hercules, Black Chic, Code 10, Ingwe, X-guys and Thuan Phat. It operates over 8 factories throughout India in various locations.

Marico Share Price

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Peer Comparison

Marico Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	2407	2161	2558	2496	2470	2240	2477	2476	2422	2278
Other Income	22	24	17	19	40	68	46	38	43	15
Total Income	2429	2185	2575	2515	2510	2308	2523	2514	2465	2293
Total Expenditure	1976	1815	2030	2063	2014	1847	1903	1979	1909	1836
Operating Profit	453	370	545	452	496	461	620	535	556	457
Interest	10	11	10	15	14	17	17	20	19	17
Depreciation	36	37	36	37	39	43	36	39	42	41
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	407	322	499	400	443	401	567	476	495	399
Provision for Tax	90	65	122	93	110	96	131	116	109	79
Profit After Tax	317	257	377	307	333	305	436	360	386	320
Adjustments	-7	-6	-6	-6	-5	-3	-9	-7	-3	-2
Profit After Adjustments	310	251	371	301	328	302	427	353	383	318
Adjusted Earnings Per Share	2.4	1.9	2.9	2.3	2.5	2.3	3.3	2.7	3	2.5

Marico Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	4260	4687	5733	6017	5918	6322	7334	7315	8048	9512	9764	9653
Other Income	38	58	59	94	97	85	103	127	97	101	144	142
Total Income	4298	4745	5792	6111	6015	6407	7437	7442	8145	9613	9908	9795
Total Expenditure	3620	3939	4863	4966	4759	5186	6008	5849	6460	7834	7954	7627
Operating Profit	677	806	929	1145	1257	1221	1429	1593	1685	1779	1954	2168
Interest	58	34	23	21	17	16	40	50	34	39	56	73
Depreciation	87	77	84	95	90	88	131	140	139	139	155	158
Exceptional Income / Expenses	52	0	0	0	0	0	0	-29	13	0	0	0
Profit Before Tax	585	695	822	1029	1149	1117	1257	1374	1523	1601	1743	1937
Provision for Tax	142	190	237	305	338	290	126	331	324	346	421	435
Profit After Tax	443	504	585	723	811	827	1131	1043	1199	1255	1322	1502
Adjustments	-47	-19	-11	-12	-12	-13	-17	-22	-27	-30	-20	-21
Profit After Adjustments	396	485	573	711	799	814	1114	1021	1172	1225	1302	1481
Adjusted Earnings Per Share	3.1	3.8	4.4	5.5	6.2	6.3	8.6	7.9	9.1	9.5	10.1	11.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	3%	10%	9%	9%
Operating Profit CAGR	10%	7%	10%	11%
PAT CAGR	5%	8%	10%	12%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	10%	8%	10%	18%
ROE Average	37%	38%	38%	36%
ROCE Average	45%	45%	44%	41%

Marico Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	1982	1361	1825	2017	2326	2543	2976	3023	3240	3348	3799
Minority's Interest	35	36	14	14	13	12	12	13	18	57	157
Borrowings	433	252	169	0	0	20	14	10	8	0	2
Other Non-Current Liabilities	23	19	17	-29	35	39	-18	12	45	41	413
Total Current Liabilities	1241	1304	1102	1565	1249	1458	1724	1753	2013	2153	2429
Total Liabilities	3713	2971	3125	3568	3623	4072	4708	4811	5324	5599	6800
Fixed Assets	1670	888	1076	1050	1055	1080	1283	1379	1595	1738	2230
Other Non-Current Assets	454	276	221	159	179	198	225	283	393	356	750
Total Current Assets	1589	1807	1828	2346	2377	2794	3188	3141	3322	3505	3813
Total Assets	3713	2971	3125	3568	3623	4072	4708	4811	5324	5599	6800

Marico Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	61	105	224	79	93	43	51	48	93	109	276
Cash Flow from Operating Activities	432	660	665	818	649	516	1062	1214	2007	1016	1419
Cash Flow from Investing Activities	-832	-204	-179	-197	-92	55	-334	-39	-938	425	-929
Cash Flow from Financing Activities	442	-339	-625	-601	-574	-567	-698	-1147	-1058	-1290	-560
Net Cash Inflow / Outflow	42	117	-140	20	-17	4	30	28	11	151	-70
Closing Cash & Cash Equivalent	105	224	77	93	43	51	48	93	109	276	207

Marico Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	3.07	3.76	4.45	5.51	6.19	6.31	8.64	7.91	9.09	9.5	10.09
CEPS(Rs)	4.1	4.5	5.19	6.34	6.98	7.09	9.78	9.17	10.37	10.81	11.45
DPS(Rs)	1	3.5	2.5	6.75	3.5	4.25	4.75	6.75	7.5	9.25	4.5
Book NAV/Share(Rs)	15.37	10.55	14.12	15.59	17.96	19.63	22.92	23.24	24.89	25.74	29.12
Core EBITDA Margin(%)	15.01	15.93	15.15	17.45	19.53	16.54	16.7	18.2	17.95	15.91	16.42
EBIT Margin(%)	15.08	15.53	14.71	17.43	19.63	16.49	16.33	17.67	17.6	15.55	16.32
Pre Tax Margin(%)	13.72	14.8	14.31	17.08	19.35	16.26	15.83	17.05	17.21	15.18	15.81
PAT Margin (%)	10.39	10.74	10.19	12.01	13.66	12.04	14.24	12.95	13.55	11.9	11.99
Cash Profit Margin (%)	12.42	12.38	11.66	13.58	15.18	13.32	15.89	14.68	15.12	13.21	13.4
ROA(%)	13.27	15.08	19.19	21.62	22.56	21.49	25.76	21.91	23.66	22.98	21.32
ROE(%)	28.34	30.17	36.76	37.75	37.47	34.1	41.21	35.03	38.62	38.43	37.36
ROCE(%)	26.9	29.79	39.35	45.64	47.43	41.81	41.95	42.58	44.79	45.03	45.16
Receivable days	17.33	16.32	12.71	12.99	15.34	15.59	19.7	23.92	19.12	17.99	27.6
Inventory Days	67.77	64.51	56.93	58.17	66.99	73.44	67.15	63.22	51.68	43.91	43.65
Payable days	83.75	93.01	74.53	86.66	105.01	95.3	91.98	107.61	100.01	92.75	107.65
PER(x)	34.57	27.85	43.53	43.97	47.57	51.68	39.98	34.73	45.29	53.04	47.53
Price/Book(x)	6.91	9.93	13.71	15.56	16.39	16.61	15.06	11.83	16.53	19.56	16.48
Dividend Yield(%)	0.47	1.67	0.65	2.78	1.19	1.3	1.38	2.46	1.82	1.84	0.94
EV/Net Sales(x)	3.35	2.94	4.39	5.2	6.42	6.67	6.05	4.86	6.52	6.81	6.31
EV/Core EBITDA(x)	21.1	17.11	27.11	27.33	30.23	34.54	31.03	22.29	31.15	36.39	31.53
Net Sales Growth(%)	15.11	1.97	22.33	4.96	-1.65	6.83	16.01	-0.26	10.02	18.19	2.65
EBIT Growth(%)	33.23	19.53	15.85	24.33	10.97	-2.77	14.47	9.79	9.34	5.33	9.7
PAT Growth(%)	21.02	24.26	16.02	23.67	12.12	1.98	36.76	-7.78	14.96	4.67	5.34
EPS Growth(%)	19.05	22.59	18.13	24.05	12.22	1.97	36.86	-8.35	14.79	4.52	6.29
Debt/Equity(x)	0.44	0.5	0.23	0.16	0.1	0.12	0.12	0.11	0.11	0.1	0.13
Current Ratio(x)	1.28	1.39	1.66	1.5	1.9	1.92	1.85	1.79	1.65	1.63	1.57
Quick Ratio(x)	0.59	0.78	0.76	0.91	0.91	0.89	1.04	1.02	1.09	0.97	1.07
Interest Cover(x)	11.08	21.16	36.8	49.07	70.28	70.81	32.43	28.48	45.79	42.05	32.13
Total Debt/Mcap(x)	0.06	0.05	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01

Marico Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	59.51	59.49	59.48	59.48	59.48	59.42	59.42	59.4	59.39	59.35
FII	25.55	25.11	25.16	25	25.07	24.97	24.96	25.91	25.69	25.54
DII	8.67	8.84	8.76	9.94	9.88	10.08	10.3	9.59	9.73	9.88
Public	6.27	6.56	6.6	5.58	5.57	5.52	5.32	5.09	5.19	5.22
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	76.9	76.9	76.9	76.9	76.9	76.84	76.84	76.84	76.84	76.8
FII	33.02	32.46	32.53	32.32	32.42	32.29	32.27	33.52	33.24	33.06
DII	11.21	11.43	11.32	12.85	12.77	13.04	13.32	12.41	12.59	12.79
Public	8.1	8.48	8.54	7.22	7.2	7.14	6.89	6.59	6.72	6.76
Others	0	0	0	0	0	0	0	0	0	0
Total	129.24	129.28	129.29	129.3	129.3	129.31	129.32	129.36	129.39	129.41

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 38%
Company is almost debt free.

Cons

Debtor days have increased from 92.75 to 107.65days.
Stock is trading at 19.8 times its book value.
The company has delivered a poor profit growth of 9% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Marico

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Marico Research see more...

Overview Inc. Year: 1988Industry: Consumer Food

Marico Share Price

Alert Data

Quarterly Price

Peer Comparison

Marico Quarterly Results

Marico Profit & Loss

Growth Rates

Marico Balance Sheet

Marico Cash Flow

Marico Ratios

Marico Shareholding Pattern

Marico News

Top Unlisted Companies & InstaBuy Companies

Empire Spices and Foods ltd

IPO

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