Marico Ltd (MARICO)

Marico to Expand Direct Reach in Rural Markets - 17 May, 2024

Marico, the maker of Parachute hair oil, plans to spend Rs 70-100 crore over three years to expand direct reach and reduce dependence on indirect distribution. The company reported green shoots in rural markets towards the end of Q4 FY24.

Geojit Financial Services Recommends BUY Rating for Marico Ltd - 15 May, 2024

Marico Limited's Q4FY24 consolidated revenue rose 1.7% YoY to Rs. 2,278cr (-5.9% QoQ), driven by steady domestic business and healthy growth in its international business. EBITDA margin expanded 190bps YoY to 19.4%, despite an 8.0% YoY increase in ad spends. Geojit Financial Services recommends a BUY rating on the stock with a revised target price of Rs. 668 based on 46x FY26E adj. EPS.

Marico Stock Breaks Out From Consolidation, Experts Suggest Buying - 14 May, 2024

Marico Ltd's stock has broken out from its nearly three-year-long consolidation range, with experts suggesting short-term traders buy the stock for a target of Rs 675 in 1-2 months. The recent price action also helped the stock rise over 13% in a week, opening room for it to head higher towards 650-670 levels.

Marico Expects Volume-Led Growth in FY25 - 13 May, 2024

FMCG makers anticipate a volume-led growth in FY25 due to favorable market conditions. Marico reported a 3% increase in Q4 volumes and plans to invest in expanding its distribution network.

Marico Receives Positive Analyst Upgrades After Strong FY24 Results - 09 May, 2024

Marico receives positive analyst upgrades after posting strong FY24 results, with Prabhudas Lilladher upgrading the stock from Hold to Accumulate and increasing its EPS estimates for FY25/26.

Marico Reports Stronger Than Expected Performance in Q4 - 08 May, 2024

Marico's Q4FY2024 performance was largely in-line with expectations, but the company rallied on growth guidance for FY25 and improving demand trends in rural India. The company plans to invest in increasing its direct distribution in India through Project Setu. Sharekhan recommends a Buy rating on Marico with a revised price target of Rs.620. Marico stock is up 1.37% on NSE and has gained 10.17% in the last one year.

Marico Reports Rise in Net Profit; Investec Upgrades Stock - 07 May, 2024

FMCG major Marico Ltd's Q4 FY24 consolidated net profit rose 4.9%, leading to a nearly 10% jump in stock prices. Investec upgraded the stock to buy and raised its target price to Rs 616. The company is focused on growing premium segments of value-added hair oil business by 20%. Marico expects double-digit revenue growth and margin improvement.

Marico Reports Strong Q4 Results - 06 May, 2024

Marico Ltd's Q4 FY24 results meet street expectations with revenue of ₹2,278 crore and a net profit of ₹320 crore. The company reported an increase in EBITDA by 12.5%, gross margin expansion by over 400 basis points, and an increase in international business revenue by 7.4%. Shares ended 2.9% higher on Monday at ₹531.85.

Marico Ltd falls for fifth straight session - 19 Apr, 2024

Marico Ltd's stock fell by 0.28% to Rs 505 on the NSE, while the benchmark NIFTY rose by 0.15%. The company has gained around 2.52% in the last month and has a PE of 62.3 based on TTM earnings ending December 23.