Marico Ltd
Marico Limited is one of India's leading consumer goods companies operating in global beauty and wellness categories. It is present in over 25 countries across emerging markets of Asia and Africa. It nurtures leading brands across categories of hair care, skin care, edible oils, healthy foods, male grooming and fabric care.[1]
- Market Cap ₹ 76,531 Cr.
- Current Price ₹ 591
- High / Low ₹ 720 / 486
- Stock P/E 56.6
- Book Value ₹ 34.6
- Dividend Yield 1.61 %
- ROCE 37.0 %
- ROE 29.3 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 33.9%
- Company has been maintaining a healthy dividend payout of 88.5%
Cons
- Stock is trading at 17.1 times its book value
- The company has delivered a poor sales growth of 3.24% over past five years.
- Debtor days have increased from 37.8 to 45.4 days.
* 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.
Peer comparison
Sector: Edible Oil Industry: Solvent Extraction
Part of BSE Fast Moving Consumer Goods BSE 400 MidSmallCap Index Nifty LargeMidcap 250 Nifty100 ESG Nifty200 Quality 30
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
3,407 | 3,682 | 4,681 | 4,861 | 4,851 | 5,170 | 5,971 | 5,853 | 6,337 | 7,500 | 7,478 | 7,002 | 7,116 | |
2,884 | 3,124 | 4,006 | 4,032 | 3,894 | 4,255 | 4,961 | 4,733 | 5,183 | 6,317 | 6,169 | 5,596 | 5,682 | |
Operating Profit | 523 | 559 | 676 | 829 | 957 | 915 | 1,010 | 1,120 | 1,154 | 1,183 | 1,309 | 1,406 | 1,434 |
OPM % | 15% | 15% | 14% | 17% | 20% | 18% | 17% | 19% | 18% | 16% | 18% | 20% | 20% |
95 | 235 | 127 | 191 | 262 | 114 | 301 | 287 | 286 | 357 | 328 | 135 | 383 | |
Interest | 44 | 30 | 17 | 15 | 13 | 8 | 24 | 33 | 22 | 30 | 36 | 32 | 27 |
Depreciation | 33 | 46 | 55 | 69 | 64 | 67 | 104 | 113 | 107 | 97 | 109 | 107 | 112 |
Profit before tax | 542 | 717 | 731 | 936 | 1,142 | 954 | 1,183 | 1,261 | 1,311 | 1,413 | 1,492 | 1,402 | 1,678 |
Tax % | 21% | 20% | 25% | 26% | 26% | 25% | 5% | 20% | 16% | 18% | 21% | 23% | |
429 | 577 | 545 | 691 | 843 | 718 | 1,129 | 1,007 | 1,106 | 1,163 | 1,179 | 1,078 | 1,353 | |
EPS in Rs | 3.33 | 4.48 | 4.23 | 5.36 | 6.53 | 5.56 | 8.75 | 7.80 | 8.56 | 9.00 | 9.12 | 8.33 | 10.45 |
Dividend Payout % | 15% | 39% | 30% | 79% | 54% | 76% | 54% | 86% | 87% | 103% | 49% | 114% |
Compounded Sales Growth | |
---|---|
10 Years: | 7% |
5 Years: | 3% |
3 Years: | 3% |
TTM: | -2% |
Compounded Profit Growth | |
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10 Years: | 6% |
5 Years: | -1% |
3 Years: | -3% |
TTM: | 32% |
Stock Price CAGR | |
---|---|
10 Years: | 14% |
5 Years: | 11% |
3 Years: | 3% |
1 Year: | 11% |
Return on Equity | |
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10 Years: | 32% |
5 Years: | 35% |
3 Years: | 34% |
Last Year: | 29% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 64 | 64 | 64 | 129 | 129 | 129 | 129 | 129 | 129 | 129 | 129 | 129 | 129 |
Reserves | 1,927 | 1,909 | 2,278 | 2,409 | 2,795 | 2,912 | 3,360 | 2,759 | 2,906 | 2,920 | 3,548 | 3,468 | 4,347 |
722 | 562 | 271 | 204 | 108 | 122 | 131 | 110 | 269 | 199 | 166 | 230 | 229 | |
454 | 608 | 617 | 696 | 730 | 857 | 1,138 | 1,138 | 1,178 | 1,248 | 1,246 | 1,138 | 1,180 | |
Total Liabilities | 3,168 | 3,144 | 3,231 | 3,439 | 3,763 | 4,020 | 4,758 | 4,136 | 4,482 | 4,496 | 5,089 | 4,965 | 5,885 |
335 | 494 | 482 | 460 | 519 | 509 | 643 | 701 | 669 | 667 | 704 | 736 | 734 | |
CWIP | 145 | 2 | 2 | 37 | 8 | 25 | 42 | 55 | 14 | 27 | 32 | 38 | 45 |
Investments | 1,316 | 1,367 | 1,335 | 1,595 | 1,664 | 1,507 | 1,440 | 1,093 | 1,343 | 1,372 | 1,825 | 1,617 | 2,150 |
1,371 | 1,281 | 1,412 | 1,347 | 1,571 | 1,979 | 2,633 | 2,287 | 2,456 | 2,430 | 2,528 | 2,574 | 2,956 | |
Total Assets | 3,168 | 3,144 | 3,231 | 3,439 | 3,763 | 4,020 | 4,758 | 4,136 | 4,482 | 4,496 | 5,089 | 4,965 | 5,885 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
444 | 256 | 552 | 629 | 471 | 409 | 785 | 970 | 1,564 | 656 | 1,002 | 1,044 | |
-953 | 109 | 60 | -86 | 87 | 187 | -79 | 128 | -583 | 626 | -346 | 167 | |
521 | -369 | -612 | -549 | -560 | -602 | -704 | -1,081 | -992 | -1,267 | -676 | -1,194 | |
Net Cash Flow | 13 | -3 | -1 | -6 | -2 | -6 | 2 | 17 | -11 | 15 | -20 | 17 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 13 | 15 | 10 | 14 | 17 | 20 | 26 | 29 | 18 | 27 | 41 | 45 |
Inventory Days | 170 | 147 | 125 | 128 | 190 | 193 | 148 | 153 | 97 | 94 | 82 | 101 |
Days Payable | 74 | 71 | 64 | 81 | 84 | 86 | 86 | 92 | 93 | 86 | 93 | 99 |
Cash Conversion Cycle | 109 | 91 | 72 | 61 | 124 | 127 | 89 | 90 | 21 | 35 | 31 | 48 |
Working Capital Days | 60 | 18 | 33 | 17 | 54 | 70 | 59 | 57 | 18 | 31 | 45 | 61 |
ROCE % | 24% | 28% | 29% | 35% | 38% | 33% | 36% | 40% | 44% | 44% | 43% | 37% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
9h - Securities Issue Committee of the Board of the Company vide a resolution passed on November 21, 2024 has allotted 3,24,110 equity shares of face value …
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
15 Nov - Securities Issue Committee of the Board of the Company vide a resolution passed on November 15, 2024, has allotted 46,230 equity shares of face value …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
8 Nov - Schedule of Analyst/Investor Meeting on November 14, 2024.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
5 Nov - Transcript of Q2 FY25 earnings conference call.
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
5 Nov - Securities Issue Committee of Board of the Company vide a resolution passed on November 5, 2024 has allotted 45,100 equity shares of face value of …
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Concalls
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Dec 2023TranscriptNotesPPT
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Nov 2023Transcript PPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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May 2022TranscriptPPT
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Jul 2021Transcript PPT
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May 2021TranscriptNotesPPT
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Oct 2020TranscriptPPT
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Jul 2020TranscriptPPT
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Oct 2019TranscriptPPT
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Sep 2019TranscriptPPT
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Jun 2019TranscriptPPT
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Nov 2018TranscriptPPT
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Aug 2018TranscriptPPT
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Oct 2017TranscriptPPT
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Aug 2017TranscriptPPT
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May 2017TranscriptPPT
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Feb 2017TranscriptPPT
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Nov 2016TranscriptPPT
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Aug 2016TranscriptPPT
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May 2016TranscriptPPT
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Feb 2016Transcript PPT
Product Portfolio
Below are all the product categories that the company caters to in the domestic market and the brands of the company :
1. Coconut Oil - Parachute, Nihar Naturals.
2. Super-premium Refined edible oils - Saffola.
3. Value added hair oils - Parachute advansed, Nihar naturals, Hair & Care.
4. Healthy foods - Saffola oats, Coco Soul. Coconut oil, Saffola FITTIFY Gourmet Range.
5. Premium Hair Nourishment - Livon Serums, Hair & Care.
6. Male Grooming & Styling - Set Wet, Beardo, Parachute.
7. Skin Care - Kaya Youth, Parachute advansed.
8. Hygiene - Mediker, Veggie Clean.
9. Breakfast - True Elements[1][2][3]
Market Share Q3FY24[4]
1 Coconut Oils : MS - 62%, Rank #1
2 Parachute Rigids : MS - 52%, Rank #1
3 Saffola Oats: MS - 41%, Rank #1
4 Value Added Hair Oils : MS - 27%, Rank #1
5 Leave-on Serums : MS - 53%, Rank #1
6 Hair Gels/Waxes/Creams: MS - 52%, Rank #1