Marico hits record high, zooms 21% in 2 months; analysts see more upside

Share price of Marico today

 

Shares of Marico hit a record high of ₹ 737.40, gaining 2.4 per cent on the BSE in Wednesday’s intra-day trade amid heavy volumes owing to earnings improvement. 

 

The stock price of the edible oil company surpassed its previous high of ₹ 736.10 touched on February 1, 2025. In the past one month, the stock has rallied 11 per cent, and, in the past two months it surged 21 per cent.

 

At 02:55 pm; Marico was trading 2 per cent higher at ₹ 735.90, as compared to the 0.1 per cent gain on the BSE Sensex. The average trading volumes on the counter jumped over three-fold. A combined 3.2 million equity shares changed hands on the NSE and BSE.

 

 

Marico Q4 results

 

Homegrown FMCG firm Marico on Friday, May 2, 2025 reported a 7.81 per cent rise in consolidated net profit at ₹ 345 crore in the March 2025 quarter (Q4FY25), driven by volume and revenue growth in India, along with robust international business.

 

Consolidated revenue from operations grew 20 per cent year-on-year at ₹ 2,730 crore, with underlying volume growth of 7 per cent in the India business and constant currency growth (CCG) of 16 per cent in the international business. India volume and revenue growth were at 14 quarter high.

 

Outlook

 

With retail and food inflation moderating, it bodes well for the overall consumption in FY26. Government schemes, rise in MSPs and healthy monsoon forecasts to aid ongoing rural recovery.

 

Marico expects gradually improving growth trends in the core categories on the back of moderating trends in retail and food inflation as well as the promise of a healthy monsoon season. This will be further aided by our ongoing initiatives to support select General Trade (GT) channel partners and transformative expansion in its direct reach footprint under Project SETU. Despite transient input cost headwinds in the near term, the company expects to sustain the double-digit revenue growth momentum and will strive to deliver double-digit operating profit growth in FY26.

 

Brokerage view – Yes Securities

 

Volume pick-up in domestic core, strong price growth in Parachute & Saffola edible oils in H1FY26, likely bottoming-out of value added hair oils (VAHO), distribution expansion through Project SETU, continued strong momentum in newer domestic businesses and healthy International business CCG should lead to double -digit topline growth in FY26. Based on ~50x multiple on FY27E EPS the brokerage firm said that they now get a slightly revised target price of ₹ 830 (₹ 800 earlier). 

 

Brokerage view – Elara Capital

 

The brokerage firm maintains a constructive view on Marico, underpinned by its strong medium term potential to deliver double-digit sales growth. This optimism is driven by a combination of strategic price increases, enhanced direct distribution capabilities, and robust momentum in its foods and premium personal care segments. 

 

“Additionally, as its new business verticals continue to scale, we expect upside to margin in the long term, further reinforcing our positive stance. We reiterate our Accumulate rating with a higher target price of ₹ 785 on 50x FY27E P/E,” analysts said in the Q4 result update.

 

About Marico 

 

Marico is one of India's leading consumer goods companies operating in the global beauty and wellness categories. In FY 2023-24, Marico recorded a turnover of $1.2 billion through its products sold in India and chosen markets in Asia and Africa.

 

Marico touches the lives of 1 out of every 3 Indians, through its portfolio of brands such as Parachute, Saffola, Hair & Care, Parachute Advansed, Nihar Naturals, Mediker, Pure Sense, Coco Soul, Revive, Set Wet, Livon, Beardo, Just Herbs, True Elements and Plix. The international consumer products portfolio contributes to about 26 per cent of the Group’s revenue, with brands like Parachute, Parachute Advansed, HairCode, Fiancée, Purité de Prôvence, Ôliv, Caivil, Hercules, Black Chic, Code 10, Ingwe, X-Men, Thuan Phat and Isoplus.