Marico Ltd

Marico Ltd

₹ 623 2.17%
24 Jun - 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.
9. Breakfast - True Elements[1][2][3]

Market Share Q3FY24[4]
1 Coconut Oils : MS - 62%, Rank #1
2 Parachute Rigids : MS - 52%, Rank #1
3 Saffola Oats: MS - 41%, Rank #1
4 Value Added Hair Oils : MS - 27%, Rank #1
5 Leave-on Serums : MS - 53%, Rank #1
6 Hair Gels/Waxes/Creams: MS - 52%, Rank #1

  • Market Cap 80,645 Cr.
  • Current Price 623
  • High / Low 667 / 486
  • Stock P/E 54.4
  • Book Value 29.6
  • Dividend Yield 1.52 %
  • ROCE 43.4 %
  • ROE 38.8 %
  • Face Value 1.00

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 37.3%
  • Company has been maintaining a healthy dividend payout of 74.9%

Cons

  • Stock is trading at 21.0 times its book value
  • The company has delivered a poor sales growth of 5.65% 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: Edible Oil Industry: Solvent Extraction

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
2,012 2,525 2,419 2,407 2,161 2,558 2,496 2,470 2,240 2,477 2,476 2,422 2,278
1,693 2,044 1,996 1,976 1,815 2,030 2,063 2,014 1,847 1,903 1,979 1,909 1,836
Operating Profit 319 481 423 431 346 528 433 456 393 574 497 513 442
OPM % 16% 19% 17% 18% 16% 21% 17% 18% 18% 23% 20% 21% 19%
10 27 25 22 24 17 19 40 68 46 38 43 15
Interest 10 8 10 10 11 10 15 14 17 17 20 19 17
Depreciation 36 33 33 36 37 36 37 39 43 36 39 42 41
Profit before tax 283 467 405 407 322 499 400 443 401 567 476 495 399
Tax % 20% 22% 22% 22% 20% 24% 23% 25% 24% 23% 24% 22% 20%
227 365 316 317 257 377 307 333 305 436 360 386 320
EPS in Rs 1.70 2.76 2.39 2.40 1.94 2.87 2.33 2.54 2.34 3.30 2.73 2.96 2.46
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
4,596 4,687 5,733 6,017 5,918 6,322 7,334 7,315 8,048 9,512 9,764 9,653
3,970 3,939 4,863 4,966 4,759 5,185 6,009 5,846 6,459 7,831 7,954 7,627
Operating Profit 626 748 870 1,051 1,159 1,137 1,325 1,469 1,589 1,681 1,810 2,026
OPM % 14% 16% 15% 17% 20% 18% 18% 20% 20% 18% 19% 21%
70 58 59 93 96 85 103 95 107 98 144 142
Interest 58 34 23 21 17 16 40 50 34 39 56 73
Depreciation 87 77 84 95 90 89 131 140 139 139 155 158
Profit before tax 552 695 822 1,029 1,149 1,117 1,257 1,374 1,523 1,601 1,743 1,937
Tax % 26% 27% 29% 30% 29% 26% 10% 24% 21% 22% 24% 22%
406 504 585 723 811 827 1,131 1,043 1,199 1,255 1,322 1,502
EPS in Rs 3.07 3.76 4.45 5.51 6.19 6.31 8.63 7.91 9.08 9.48 10.07 11.44
Dividend Payout % 16% 46% 28% 77% 57% 67% 55% 85% 83% 97% 45% 83%
Compounded Sales Growth
10 Years: 7%
5 Years: 6%
3 Years: 6%
TTM: -1%
Compounded Profit Growth
10 Years: 12%
5 Years: 6%
3 Years: 8%
TTM: 16%
Stock Price CAGR
10 Years: 18%
5 Years: 11%
3 Years: 7%
1 Year: 18%
Return on Equity
10 Years: 37%
5 Years: 37%
3 Years: 37%
Last Year: 39%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 64 64 64 129 129 129 129 129 129 129 129 129
Reserves 1,917 1,296 1,760 1,888 2,197 2,414 2,846 2,894 3,111 3,219 3,670 3,703
872 680 428 331 239 312 352 338 511 479 608 528
854 925 873 1,010 1,059 1,217 1,569 1,603 1,675 1,850 2,393 3,061
Total Liabilities 3,707 2,965 3,125 3,358 3,623 4,072 4,896 4,964 5,426 5,677 6,800 7,421
1,670 888 1,076 1,050 1,085 1,110 1,300 1,396 1,612 1,760 2,246 2,724
CWIP 148 4 3 37 11 27 45 58 24 39 67 44
Investments 152 311 284 544 608 543 450 733 854 828 1,096 602
1,738 1,762 1,763 1,727 1,919 2,392 3,101 2,777 2,936 3,050 3,391 4,051
Total Assets 3,707 2,965 3,125 3,358 3,623 4,072 4,896 4,964 5,426 5,677 6,800 7,421

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
432 660 665 818 649 516 1,062 1,214 2,007 1,016 1,419 1,436
-830 -202 -186 -203 -125 59 -367 -22 -933 441 -928 176
442 -339 -625 -601 -574 -567 -698 -1,147 -1,058 -1,290 -560 -1,542
Net Cash Flow 44 119 -147 14 -51 8 -3 45 16 167 -69 70

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 16 17 11 15 15 20 26 27 18 25 38 40
Inventory Days 173 151 139 110 193 190 147 157 108 106 94 103
Days Payable 96 95 79 80 107 103 98 108 109 101 112 122
Cash Conversion Cycle 93 73 71 46 101 106 74 76 17 30 20 22
Working Capital Days 26 9 29 10 38 54 43 41 6 20 21 39
ROCE % 24% 29% 38% 44% 45% 42% 42% 43% 43% 43% 42%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
59.61% 59.52% 59.51% 59.49% 59.48% 59.48% 59.48% 59.42% 59.41% 59.40% 59.38% 59.34%
24.98% 25.92% 25.55% 25.11% 25.16% 25.00% 25.07% 24.97% 24.96% 25.91% 25.69% 25.55%
9.57% 8.50% 8.59% 8.76% 8.67% 9.86% 9.78% 9.99% 10.20% 9.50% 9.63% 9.78%
0.09% 0.09% 0.09% 0.09% 0.09% 0.09% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
5.66% 5.87% 6.17% 6.45% 6.49% 5.46% 5.46% 5.43% 5.20% 4.99% 5.12% 5.13%
0.10% 0.10% 0.10% 0.11% 0.11% 0.11% 0.09% 0.11% 0.11% 0.11% 0.08% 0.11%
No. of Shareholders 2,06,5992,72,8082,94,4603,32,2293,39,0173,43,6413,44,5753,47,5693,30,9073,08,0253,16,5793,18,556

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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

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