Marico Limited (MARICO) AI Stock Analysis

• Market Cap: ₹961.79B
• Dividend Yield: 1.42%
• Average Volume (3M): 43.30K
• Price to Earnings (P/E): 57.6
• Beta (1Y): 0.55
• Revenue Growth: 22.56%
• EPS Growth: 4.73%
• Country: IN
• Employees: 1,834
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Household & Personal Products
• EPS (TTM): 3.30
• Shares Outstanding: 1,298,053,200
• 10 Day Avg. Volume: 38,273
• 30 Day Avg. Volume: 43,297
• PEG Ratio: 5.23
• Price to Book (P/B): 21.13
• Price to Sales (P/S): 7.75
• P/FCF Ratio: 69.87
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹850.00
• Price Target Upside: 14.72% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: ₹795.00 ▲(7.29% Upside)

Marico Limited's strong financial performance is the most significant factor, supported by solid revenue and profit growth and efficient management. Technical analysis shows a positive trend, though short-term indicators suggest caution. The high P/E ratio indicates a premium valuation, which may limit upside potential. Overall, the stock is well-positioned but may face valuation challenges.

Positive Factors

Revenue Growth

Marico's consistent revenue growth indicates strong market demand and successful product strategies, enhancing long-term business stability.

Profitability

A healthy net profit margin reflects effective cost management and pricing power, supporting sustainable profitability and competitive advantage.

Balance Sheet Health

Low leverage risk enhances financial stability, allowing Marico to invest in growth opportunities without significant financial strain.

Negative Factors

Cash Flow Growth

A decline in free cash flow growth may limit Marico's ability to fund new projects or return capital to shareholders, impacting long-term growth potential.

Equity Growth

Limited growth in equity suggests potential challenges in asset expansion, which could affect Marico's ability to scale operations effectively.

Valuation Concerns

A high P/E ratio may indicate overvaluation, potentially limiting stock price appreciation and increasing risk if growth expectations are not met.

Marico Limited Business Overview & Revenue Model

Company Description

Marico Limited, together with its subsidiaries, manufactures and markets consumer products. It offers coconut oils, hair oils, refined edible oils, anti-lice treatments, fabric care, immunity boosting and healthy foods, hair gels, hair serums, shampoos, hair creams and conditioners, deodorants, body lotion and gels, shower gels, hair relaxers and straighteners, fabric care, baby care, and skin care and male grooming products, as well as hygiene products. The company markets its products under the Parachute, Parachute Advansed, Nihar Naturals, Saffola, Saffola FITTIFY Gourmet, Saffola Immuniveda, Hair & Care, Coco Soul, Beardo, Just Herbs, Revive, Mediker, Livon, and Set-wet brand names in India; and under the Parachute, Parachute Advansed, Fiancée, Hair Code, Caivil, Hercules, Black Chic, Code 10, Ingwe, X-men, Mediker SafeLife, Isoplus, and Thuan Phat brand names internationally. Its distribution network comprises regional offices, carrying and forwarding agents, redistribution centers, and distributors. The company was incorporated in 1988 and is headquartered in Mumbai, India.

How the Company Makes Money

Marico generates revenue primarily through the sale of its consumer products across multiple categories. The company's key revenue streams include the sale of hair oils, which is one of its largest segments, as well as health foods and cooking oils. Marico employs a multi-channel distribution strategy, leveraging both traditional retail and modern trade formats to reach consumers effectively. Additionally, the company has expanded its footprint in international markets, contributing to its revenue growth through exports and local operations. Strategic partnerships with distributors and retailers enhance its market reach, while continuous product innovation and marketing efforts help to strengthen brand loyalty and drive sales.

Marico Limited Financial Statement Overview

Summary

Marico Limited shows strong financial performance with impressive revenue and profit growth, efficient operational management, and a solid balance sheet with low leverage. Despite minor fluctuations in cash flow growth, the company maintains a robust financial foundation.

Income Statement

Marico Limited demonstrated strong financial performance with a consistent increase in total revenue over the years, achieving a revenue growth rate of 12.21% in 2025. The company maintains a healthy gross profit margin of 50.26% and a net profit margin of 15.04% in 2025, reflecting robust profitability. The EBIT margin improved to 32.16%, and the EBITDA margin is at 19.75%, indicating efficient operational management. Overall, the income statement shows a positive growth trajectory and strong profitability.

Balance Sheet

The balance sheet of Marico Limited reflects a stable financial position with a debt-to-equity ratio of 0.14, indicating low leverage risk. The return on equity (ROE) stands at 40.98%, showcasing effective utilization of equity to generate profits. The equity ratio is 47.67%, suggesting a balanced capital structure with a strong equity base. However, the modest increase in stockholders’ equity suggests room for improvement in asset growth.

Cash Flow

Marico Limited's cash flow statement highlights a strong cash position, with positive free cash flow and a free cash flow to net income ratio of 0.74 in 2025, indicating efficient cash generation relative to profits. The company maintains a healthy operating cash flow to net income ratio of 0.84, demonstrating effective conversion of profits into cash. Despite a dip in free cash flow growth, the overall cash flow situation remains robust, supporting the company's operational and investment activities.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	114.47B	108.31B	95.73B	97.64B	94.52B	79.91B
Gross Profit	55.91B	54.43B	45.63B	44.13B	37.47B	34.63B
EBITDA	23.41B	21.39B	21.67B	19.53B	17.76B	16.97B
Net Income	16.69B	16.29B	14.81B	13.02B	12.25B	11.72B
Balance Sheet
Total Assets	0.00	83.38B	74.21B	69.46B	57.86B	55.10B
Cash, Cash Equivalents and Short-Term Investments	21.50B	21.52B	12.01B	13.38B	12.18B	15.07B
Total Debt	0.00	5.54B	5.28B	6.08B	4.79B	5.10B
Total Liabilities	-42.66B	40.72B	32.52B	29.90B	23.81B	22.52B
Stockholders Equity	42.66B	39.75B	38.32B	37.99B	33.48B	32.40B
Cash Flow
Free Cash Flow	0.00	12.02B	12.83B	12.37B	8.84B	19.26B
Operating Cash Flow	0.00	13.63B	14.36B	14.19B	10.16B	20.68B
Investing Cash Flow	0.00	-6.21B	1.76B	-8.65B	4.25B	-9.38B
Financing Cash Flow	0.00	-6.49B	-15.42B	-5.60B	-12.90B	-10.58B

Marico Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 740.95
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MARICO, the sentiment is Positive. The current price of 740.95 is above the 20-day moving average (MA) of 728.80, above the 50-day MA of 726.49, and above the 200-day MA of 702.81, indicating a bullish trend. The MACD of 3.37 indicates Negative momentum. The RSI at 58.06 is Neutral, neither overbought nor oversold. The STOCH value of 69.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MARICO.

Marico Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TATACONSUM	71 Outperform	₹1.17T	85.96	―	0.70%	15.34%	14.67%
COLPAL	70 Outperform	₹574.04B	43.29	―	2.42%	-2.06%	-9.74%
MARICO	69 Neutral	₹961.79B	57.61	―	1.42%	22.56%	4.73%
DABUR	66 Neutral	₹876.65B	48.44	―	1.62%	2.68%	1.07%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
GODREJAGRO	58 Neutral	₹109.73B	25.20	―	1.93%	5.24%	9.79%
GODREJIND	54 Neutral	₹334.46B	34.73	―	―	16.77%	137.93%

Marico Limited Corporate Events

Marico Limited Increases Share Capital Through ESOP Allotment

Marico Limited has announced the allotment of 63,494 equity shares under its Employee Stock Option Plan (ESOP) 2016, following the exercise of stock options by eligible grantees. This allotment has resulted in a slight increase in the company’s paid-up share capital. While this development is not considered material to the company’s overall financial position, it reflects Marico’s ongoing commitment to employee engagement and retention through stock-based incentives.

Marico Limited Allots Equity Shares Under ESOP 2016

Marico Limited has announced the allotment of 54,074 equity shares under its Employee Stock Option Plan 2016, following the exercise of stock options by eligible grantees. This allotment has resulted in an increase in the company’s paid-up share capital, reflecting a strategic move to enhance employee engagement and retention. While the allotment is not considered material to the company’s financials, it underscores Marico’s commitment to rewarding its employees, potentially impacting its operational dynamics and stakeholder relations positively.

Marico Limited Receives ‘Very Good’ ESG Rating

Marico Limited has been assigned an ESG score of ’77’, indicating a ‘Very Good’ rating by CFC Finlease Private Limited, an independent ESG rating provider. This rating reflects positively on Marico’s environmental, social, and governance practices, potentially enhancing its reputation and attractiveness to investors focused on sustainability.

Marico Limited Faces FSSAI Penalty for Misbranding

Marico Limited has disclosed a penalty of Rs. 1,00,000 imposed by the Food Safety and Standards Authority of India (FSSAI) for alleged misbranding of some product samples in 2016. Despite this penalty, the company states that there is no significant impact on its financials or operations, and it reserves the right to appeal the order.

Marico Limited Submits SEBI Compliance Certificate for Q3 2025

Marico Limited has submitted a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ending September 30, 2025. The certificate, issued by MUFG Intime India Private Limited, confirms that securities received for dematerialization were processed and listed appropriately, ensuring regulatory compliance and maintaining the integrity of Marico’s securities management.

Marico Limited Faces Income Tax Department Visits

Marico Limited has reported that the Income Tax Department conducted visits to some of its offices and manufacturing units in India. The company is cooperating fully with the authorities and has stated that there is currently no material impact on its business operations. Marico has assured stakeholders that any further significant updates will be disclosed in compliance with regulatory requirements.