Marico Ltd

₹ 543 -1.18%
23 Sep - 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 70,200 Cr.
  • Current Price 543
  • High / Low 608 / 456
  • Stock P/E 56.6
  • Book Value 26.4
  • Dividend Yield 1.70 %
  • 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 20.6 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
2,166 1,829 1,824 1,496 1,925 1,989 2,122 2,012 2,525 2,419 2,407 2,161 2,558
1,705 1,476 1,451 1,215 1,460 1,600 1,709 1,693 2,044 1,996 1,976 1,815 2,030
Operating Profit 461 353 373 281 465 389 413 319 481 423 431 346 528
OPM % 21% 19% 20% 19% 24% 20% 19% 16% 19% 17% 18% 16% 21%
9 36 29 22 83 -6 24 10 27 25 22 24 17
Interest 12 13 12 13 9 8 7 10 8 10 10 11 10
Depreciation 35 35 32 38 34 33 36 36 33 33 36 37 36
Profit before tax 423 341 358 252 505 342 394 283 467 405 407 322 499
Tax % 26% 26% 23% 21% 23% 20% 21% 20% 22% 22% 22% 20% 24%
Net Profit 315 253 276 199 388 273 312 227 365 316 317 257 377
EPS in Rs 2.39 1.91 2.11 1.50 2.95 2.04 2.38 1.70 2.76 2.39 2.40 1.94 2.87
Raw PDF

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 9,545
2,747 3,495 3,970 3,939 4,863 4,966 4,759 5,185 6,009 5,846 6,459 7,831 7,817
Operating Profit 388 485 626 748 870 1,051 1,159 1,137 1,325 1,469 1,589 1,681 1,728
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 88
Interest 41 42 58 34 23 21 17 16 40 50 34 39 41
Depreciation 71 73 87 77 84 95 90 89 131 140 139 139 142
Profit before tax 376 400 552 695 822 1,029 1,149 1,117 1,257 1,374 1,523 1,601 1,633
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 1,267
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 9.60
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: 10%
Compounded Profit Growth
10 Years: 14%
5 Years: 10%
3 Years: 3%
TTM: 5%
Stock Price CAGR
10 Years: 19%
5 Years: 12%
3 Years: 12%
1 Year: -3%
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
61 61 64 64 64 129 129 129 129 129 129 129
Reserves 854 1,082 1,917 1,296 1,760 1,888 2,257 2,456 2,873 2,921 3,151 3,277
774 785 872 680 428 331 239 312 352 338 511 479
544 689 854 925 873 1,010 998 1,175 1,542 1,576 1,635 1,792
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
823 857 1,670 888 1,076 1,050 1,085 1,110 1,300 1,396 1,612 1,760
CWIP 33 40 148 4 3 37 11 27 45 58 24 39
Investments 89 296 152 311 284 544 608 543 450 733 854 828
1,289 1,424 1,738 1,762 1,763 1,727 1,919 2,392 3,101 2,777 2,936 3,050
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

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%

Shareholding Pattern

Numbers in percentages

10 recently
Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
59.60 59.60 59.60 59.62 59.61 59.61 59.61 59.61 59.52 59.51 59.49 59.48
24.90 23.84 22.69 23.72 23.66 24.16 24.04 24.98 25.92 25.55 25.11 25.16
8.63 9.47 10.51 9.75 10.26 9.99 10.06 9.57 8.50 8.59 8.76 8.67
0.19 0.21 0.23 0.23 0.18 0.18 0.18 0.09 0.09 0.09 0.09 0.09
6.60 6.81 6.89 6.60 6.21 5.95 6.01 5.66 5.87 6.17 6.45 6.49
0.08 0.07 0.08 0.08 0.08 0.10 0.10 0.10 0.10 0.10 0.11 0.11

Documents

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