NSE: MARICO · BSE: 531642 · ISIN INE196A01026
Marico Limited stock analysis
Marico Limited ranks #350 in the TickerSutra evidence-ranked universe with a score of 66/100 and 95% data confidence. The latest captured fundamentals show ROCE of 47.0%, quarterly sales growth of 22.9% and quarterly profit growth of 25.0%.Watchlist candidate
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- ROCE is 47%
- Low debt/equity of 0.13×
- Strong CFO/EBITDA of 0.9×
- CWIP indicates an active capacity pipeline
Risks and constraints
- Valuation is above 40× earnings
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹9,512cr | ₹1,681cr | ₹1,255cr | 18.0% |
| 2023 | ₹9,764cr | ₹1,810cr | ₹1,322cr | 19.0% |
| 2024 | ₹9,653cr | ₹2,026cr | ₹1,502cr | 21.0% |
| 2025 | ₹10,831cr | ₹2,139cr | ₹1,658cr | 20.0% |
| 2026 | ₹13,611cr | ₹2,328cr | ₹1,813cr | 17.0% |
| TTM | ₹14,277cr | ₹2,492cr | ₹1,952cr | 17.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Please find enclosed an intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ESG Ratings.
RoutineMarico Ltd - 531642 - Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 - ESG RatingsBSE · 18 Sept 2026Please find enclosed an intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - ESG Ratings.
RoutineAnalysts/Institutional Investor Meet/Con. Call UpdatesBSE · 10 Sept 2026Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Management of the Company will be attending investor conferences as per the details attached. Further, the presentation usually used by the Company officials for such meets is also made available on the Company s website.
MANAGEMENT COMMENTARY
Signals from filed documents
The strong start to this year has set us well to achieve our full year aspirations of delivering double-digit revenue growth to cross INR15,000 crores easily. We are confident of achieving high -teens EBITDA growth and aspire to touch 20% EBITDA growth during this year. We expect India to deliver high single-digit volume growth and international business to deliver mid -teens constant currency growth.
Our digital-first portfolio led by Beardo and Plix continued to deliver strong growth alongside structural improvement in profitability. With an ARR of over INR1,100 crores, the business has scaled up profitably, exemplifying our digital playbook of combining entrepreneurial brand building with disciplined capital allocation and operating leverage. Our priority is to drive profitable growth in this portfolio.
This got further accentuated with a sharp rise in fuel and other energy prices. Through our focused category initiatives, we continue to strengthen our position and sustain market share gains. Vietnam continued its growth trajectory, delivering 27% constant currency growth during the quarter, driven by strong performance across the male and female personal care categories.
Saffola Edible Oil delivered 7% revenue growth during the quarter as we implemented calibrated pricing actions in response to further increase in input costs. The business reported a high single- digit volume decline as we rationalized supply of select variants in certain channels to maintain threshold profitability in the trade-off with volume growth. Our diversification agenda continues to gather momentum.
Parachute Rigids delivered 10% volume growth with strongest performance in the last 20 quarters and gained over 400 basis points in volume share, marking a new high. Revenue grew 23%, reflecting the anniversarization of prior year price increases and pricing actions done during the quarter as we proactively passed on value to the consumers in non-price point large packs amid softening in copra prices. Beyond the stro
Now shampoo, we have proven the model. And just to assure all of you that in most of the international markets, we have successfully competed with multinationals. Our growth rate has been pretty good on the shampoo category.
First on understanding your perspective on how you're seeing channels play out? And given the growth into quick commerce, how do you see that having an impact (a.) on your advertising spend; (b.) your margin profile given the relative customer concentration there? The second one that I wanted to understand is if you look at the India growth, right, a large part of it is obviously driven by the core business, but ther
Should you need assistance during the conference call, please signal an operator by pressing star and then zero on your touchtone phone. Before we get started, I would like to remind you that the Q&A Session is only for institutional investors and analysts, and therefore if there is anybody else who is not an institutional investor or analyst but would like to ask questions, please directly reach out to Marico's Inve
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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