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 ₹ 65,259 Cr.
- Current Price ₹ 505
- High / Low ₹ 554 / 468
- Stock P/E 52.2
- Book Value ₹ 29.0
- Dividend Yield 1.83 %
- ROCE 42.7 %
- ROE 36.6 %
- Face Value ₹ 1.00
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 36.0%
- Company has been maintaining a healthy dividend payout of 88.4%
Cons
- Stock is trading at 17.4 times its book value
- The company has delivered a poor sales growth of 9.96% over past five years.
* 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
3,135 | 3,980 | 4,596 | 4,687 | 5,733 | 6,017 | 5,918 | 6,322 | 7,334 | 7,315 | 8,048 | 9,512 | 9,685 | |
2,747 | 3,495 | 3,970 | 3,939 | 4,863 | 4,966 | 4,759 | 5,185 | 6,009 | 5,846 | 6,459 | 7,831 | 7,922 | |
Operating Profit | 388 | 485 | 626 | 748 | 870 | 1,051 | 1,159 | 1,137 | 1,325 | 1,469 | 1,589 | 1,681 | 1,763 |
OPM % | 12% | 12% | 14% | 16% | 15% | 17% | 20% | 18% | 18% | 20% | 20% | 18% | 18% |
101 | 30 | 70 | 58 | 59 | 93 | 96 | 85 | 103 | 95 | 107 | 98 | 100 | |
Interest | 41 | 42 | 58 | 34 | 23 | 21 | 17 | 16 | 40 | 50 | 34 | 39 | 50 |
Depreciation | 71 | 73 | 87 | 77 | 84 | 95 | 90 | 89 | 131 | 140 | 139 | 139 | 149 |
Profit before tax | 376 | 400 | 552 | 695 | 822 | 1,029 | 1,149 | 1,117 | 1,257 | 1,374 | 1,523 | 1,601 | 1,664 |
Tax % | 23% | 20% | 26% | 27% | 29% | 30% | 29% | 26% | 10% | 24% | 21% | 22% | |
Net Profit | 291 | 322 | 406 | 504 | 585 | 723 | 811 | 827 | 1,131 | 1,043 | 1,199 | 1,255 | 1,274 |
EPS in Rs | 2.33 | 2.58 | 3.07 | 3.76 | 4.45 | 5.51 | 6.19 | 6.31 | 8.63 | 7.91 | 9.08 | 9.48 | 9.68 |
Dividend Payout % | 14% | 14% | 16% | 46% | 28% | 77% | 57% | 67% | 55% | 85% | 83% | 97% |
Compounded Sales Growth | |
---|---|
10 Years: | 9% |
5 Years: | 10% |
3 Years: | 9% |
TTM: | 3% |
Compounded Profit Growth | |
---|---|
10 Years: | 14% |
5 Years: | 10% |
3 Years: | 3% |
TTM: | 4% |
Stock Price CAGR | |
---|---|
10 Years: | 17% |
5 Years: | 11% |
3 Years: | 17% |
1 Year: | -1% |
Return on Equity | |
---|---|
10 Years: | 35% |
5 Years: | 36% |
3 Years: | 36% |
Last Year: | 37% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
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 | 854 | 1,082 | 1,917 | 1,296 | 1,760 | 1,888 | 2,257 | 2,456 | 2,873 | 2,921 | 3,151 | 3,277 | 3,624 |
774 | 785 | 872 | 680 | 428 | 331 | 239 | 312 | 352 | 338 | 511 | 479 | 533 | |
544 | 689 | 854 | 925 | 873 | 1,010 | 998 | 1,175 | 1,542 | 1,576 | 1,635 | 1,792 | 2,748 | |
Total Liabilities | 2,233 | 2,617 | 3,707 | 2,965 | 3,125 | 3,358 | 3,623 | 4,072 | 4,896 | 4,964 | 5,426 | 5,677 | 7,034 |
823 | 857 | 1,670 | 888 | 1,076 | 1,050 | 1,085 | 1,110 | 1,300 | 1,396 | 1,612 | 1,760 | 2,052 | |
CWIP | 33 | 40 | 148 | 4 | 3 | 37 | 11 | 27 | 45 | 58 | 24 | 39 | 43 |
Investments | 89 | 296 | 152 | 311 | 284 | 544 | 608 | 543 | 450 | 733 | 854 | 828 | 1,263 |
1,289 | 1,424 | 1,738 | 1,762 | 1,763 | 1,727 | 1,919 | 2,392 | 3,101 | 2,777 | 2,936 | 3,050 | 3,676 | |
Total Assets | 2,233 | 2,617 | 3,707 | 2,965 | 3,125 | 3,358 | 3,623 | 4,072 | 4,896 | 4,964 | 5,426 | 5,677 | 7,034 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
244 | 397 | 432 | 660 | 665 | 818 | 649 | 516 | 1,062 | 1,214 | 2,007 | 1,016 | |
-405 | -352 | -830 | -202 | -186 | -203 | -125 | 59 | -367 | -22 | -933 | 441 | |
274 | -119 | 442 | -339 | -625 | -601 | -574 | -567 | -698 | -1,147 | -1,058 | -1,290 | |
Net Cash Flow | 113 | -74 | 44 | 119 | -147 | 14 | -51 | 8 | -3 | 45 | 16 | 167 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
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 | 21 | 19 | 16 | 17 | 11 | 15 | 15 | 20 | 26 | 27 | 18 | 25 |
Inventory Days | 163 | 146 | 173 | 151 | 139 | 110 | 193 | 190 | 147 | 157 | 108 | 106 |
Days Payable | 73 | 73 | 96 | 95 | 79 | 80 | 107 | 103 | 98 | 108 | 109 | 101 |
Cash Conversion Cycle | 111 | 92 | 93 | 73 | 71 | 46 | 101 | 106 | 74 | 76 | 17 | 30 |
Working Capital Days | 39 | 35 | 26 | 9 | 29 | 10 | 38 | 54 | 43 | 41 | 6 | 20 |
ROCE % | 26% | 25% | 24% | 29% | 39% | 45% | 45% | 41% | 41% | 43% | 43% | 43% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
2d - Listing Regulations, please find enclosed a newspaper extract of the un-audited consolidated financial results of the Company for the quarter and nine months ended December …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
3 Feb - Recording of the earnings conference call held on Friday, February 3, 2023 on the un-audited financial results and operations of the Company for the quarter …
- Information Update For The Quarter And Nine Months Ended December 31, 2022 3 Feb
- Financial Results For The Quarter Ended December 31, 2022 3 Feb
- Board Meeting Outcome for Outcome Of The Board Meeting Held On February 3, 2023 3 Feb
Annual reports
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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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Financial Year 2010
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Financial Year 2010
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Concalls
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Feb 2023TranscriptPPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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May 2022TranscriptPPT
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Jul 2021TranscriptPPT
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Apr 2021TranscriptPPT
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Oct 2020TranscriptPPT
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Oct 2019TranscriptPPT
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Nov 2018TranscriptPPT
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Oct 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.[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]