Marico Ltd

₹ 501 -0.58%
05 Dec - close price
About

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]

Key Points

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.[1] [2]

Market Share
Market share of company’s leading brands as of Q1FY22 were as follows:
Coconut Oils, MS: 62%, Rank: 1 st
Parachute Rigids, MS: 52%, Rank: 1 st
Saffola – Super Premium ROCP, MS:, Rank: 82% 1 st
Saffola Oats, MS: 39%, Rank: 2 nd
Saffola Masala Oats - Flavored Oats, MS: 94%, Rank: 1 st
Value Added Hair Oils, MS: 37%, Rank: 1st
Post wash Leave-on Serums, MS: 63%, Rank: 1st
Hair Gels/Waxes/Creams, MS: 58%, Rank: 1st [3]

  • Market Cap 64,772 Cr.
  • Current Price 501
  • High / Low 554 / 456
  • Stock P/E 50.1
  • Book Value 29.2
  • Dividend Yield 1.85 %
  • ROCE 43.4 %
  • ROE 37.6 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 35.9%
  • Company has been maintaining a healthy dividend payout of 92.2%

Cons

  • Stock is trading at 17.1 times its book value
  • The company has delivered a poor sales growth of 9.11% over past five years.
  • Earnings include an other income of Rs.463 Cr.

* 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: FMCG Industry: Personal Care - Indian

Loading peers table ...

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
1,454 1,434 1,188 1,516 1,550 1,667 1,604 2,043 1,916 1,855 1,686 1,976 1,909
1,192 1,148 969 1,184 1,270 1,363 1,370 1,702 1,620 1,556 1,439 1,594 1,601
Operating Profit 262 286 219 332 280 304 234 341 296 299 247 382 308
OPM % 18% 20% 18% 22% 18% 18% 15% 17% 15% 16% 15% 19% 16%
101 76 102 19 112 77 81 29 128 74 126 132 131
Interest 9 7 9 6 5 5 6 6 8 8 8 8 10
Depreciation 27 27 30 26 26 27 28 24 23 26 24 25 25
Profit before tax 327 328 282 319 361 349 281 340 393 339 341 481 404
Tax % 21% 18% 21% 20% 13% 16% 13% 23% 16% 18% 14% 20% 17%
Net Profit 259 270 224 255 314 293 244 263 329 278 293 387 334
EPS in Rs 2.01 2.09 1.74 1.98 2.43 2.27 1.89 2.04 2.55 2.15 2.27 2.99 2.58
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
2,350 2,965 3,407 3,682 4,681 4,861 4,851 5,170 5,971 5,853 6,337 7,500 7,426
2,018 2,557 2,884 3,124 4,006 4,032 3,894 4,255 4,961 4,733 5,183 6,317 6,190
Operating Profit 333 408 523 559 676 829 957 915 1,010 1,120 1,154 1,183 1,236
OPM % 14% 14% 15% 15% 14% 17% 20% 18% 17% 19% 18% 16% 17%
101 51 95 235 127 191 262 114 301 287 286 357 463
Interest 32 28 44 30 17 15 13 8 24 33 22 30 34
Depreciation 28 31 33 46 55 69 64 67 104 113 107 97 100
Profit before tax 375 399 542 717 731 936 1,142 954 1,183 1,261 1,311 1,413 1,565
Tax % 16% 16% 21% 20% 25% 26% 26% 25% 5% 20% 16% 18%
Net Profit 315 337 429 577 545 691 843 718 1,129 1,007 1,106 1,163 1,292
EPS in Rs 2.57 2.74 3.33 4.48 4.23 5.36 6.53 5.56 8.75 7.80 8.56 9.00 9.99
Dividend Payout % 13% 13% 15% 39% 30% 79% 54% 76% 54% 86% 87% 103%
Compounded Sales Growth
10 Years: 10%
5 Years: 9%
3 Years: 8%
TTM: 3%
Compounded Profit Growth
10 Years: 13%
5 Years: 8%
3 Years: 1%
TTM: 12%
Stock Price CAGR
10 Years: 17%
5 Years: 10%
3 Years: 14%
1 Year: -4%
Return on Equity
10 Years: 31%
5 Years: 33%
3 Years: 36%
Last Year: 38%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
61 61 64 64 64 129 129 129 129 129 129 129 129
Reserves 812 1,063 1,927 1,909 2,278 2,409 2,856 2,954 3,387 2,786 2,946 2,978 3,651
552 572 722 562 271 204 108 122 131 110 269 199 223
260 364 454 608 617 696 670 815 1,111 1,111 1,138 1,190 1,456
Total Liabilities 1,686 2,061 3,168 3,144 3,231 3,439 3,763 4,020 4,758 4,136 4,482 4,496 5,459
222 240 335 494 482 460 519 509 643 701 669 667 692
CWIP 25 36 145 2 2 37 8 25 42 55 14 27 21
Investments 470 672 1,316 1,367 1,335 1,595 1,664 1,507 1,440 1,093 1,343 1,372 1,946
968 1,112 1,371 1,281 1,412 1,347 1,571 1,979 2,633 2,287 2,456 2,430 2,800
Total Assets 1,686 2,061 3,168 3,144 3,231 3,439 3,763 4,020 4,758 4,136 4,482 4,496 5,459

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
196 363 444 256 552 629 471 409 785 970 1,564 656
-318 -277 -953 109 60 -86 87 187 -79 128 -583 626
128 -94 521 -369 -612 -549 -560 -602 -704 -1,081 -992 -1,267
Net Cash Flow 7 -8 13 -3 -1 -6 -2 -6 2 17 -11 15

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 18 12 13 15 10 14 17 20 26 29 18 27
Inventory Days 147 131 170 147 125 128 190 193 148 153 97 94
Days Payable 53 60 74 71 64 81 84 86 86 92 93 86
Cash Conversion Cycle 113 83 109 91 72 61 124 127 89 90 21 35
Working Capital Days 48 40 60 18 33 17 54 70 59 57 18 31
ROCE % 29% 27% 24% 28% 29% 35% 38% 33% 35% 39% 44% 43%

Shareholding Pattern

Numbers in percentages

10 recently
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
59.60 59.60 59.62 59.61 59.61 59.61 59.61 59.52 59.51 59.49 59.48 59.48
23.84 22.69 23.72 23.66 24.16 24.04 24.98 25.92 25.55 25.11 25.16 25.00
9.47 10.51 9.75 10.26 9.99 10.06 9.57 8.50 8.59 8.76 8.67 9.86
0.21 0.23 0.23 0.18 0.18 0.18 0.09 0.09 0.09 0.09 0.09 0.09
6.81 6.89 6.60 6.21 5.95 6.01 5.66 5.87 6.17 6.45 6.49 5.46
0.07 0.08 0.08 0.08 0.10 0.10 0.10 0.10 0.10 0.11 0.11 0.11

* The XBRL reporting format changed from Sep'2022 onwards. The new format added details about banks and foreign portfolio investors. These were not available earlier.
The sudden increase in FII or DII might be because of these changes.

Please click on the line-items to see the names of individual entities.

Documents

Concalls