Marico Limited, a prominent Indian consumer goods company, holds a strong presence in the global beauty and wellness sectors. It operates in more than 25 countries, focusing on emerging markets in Asia and Africa. The company takes pride in developing and promoting top brands in various segments, including hair care, skin care, edible oils, healthy foods, male grooming, and fabric care.
As investors, we are constantly searching for a good deal as the stock market is constantly buzzing with fresh prospects. Marico is one such business that has attracted the interest of investors. The business has long been a favourite with investors thanks to its steady development in sales and profits.
Everyone is wondering, as we look to the future, what Marico’s share price target is between 2023 and 2030. Is it wise to acquire this stock?
In order to forecast where the stock will go in the coming ten years, we will examine the company’s financial statements and examine its historical performance in this article.
Marico in its latest Q1 FY2024 earnings, posted a profit of Rs. 427 Crore with 15% rise in profit on July 28, 2023.
Below are the trading platforms that you can use to purchase Marico shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| October 2023 | ₹591.64 | ₹510.59 |
| November 2023 | ₹599.88 | ₹520.80 |
| December 2023 | ₹620.06 | ₹536.42 |
We have estimated maximum and minimum prices of the Marico share price prediction for 2023 month wise.
As per our analysis, the growth percentage is expected to be significant, with the maximum price for December 2023 estimated to be ₹620.06 and the minimum price for October 2023 estimated to be ₹510.59.
Investors can use this data to make informed decisions about buying or selling Marico shares in 2023.
With majority of the shares held by Promotors, FIIs and DIIs, public only holds 5.20%, which is a good sign that shows big institutions believe in the company and is fine with holding Marico shares for long term.
Marico Industries has given more than 13.28% returns YTD, and has the potential to give more than 8% return from the current marketprice this year.
As of October 3rd, 2023, Marico Industries is trading at ₹ 573 per share with a marketcap of ₹ 74,064 Cr.
Marico is on a uptrend, and is all set to give higher returns in October, if the uptrend continues.
| When | Maximum Price | Minimum Price |
| January 2024 | ₹621.12 | ₹540.10 |
| February 2024 | ₹675.13 | ₹587.07 |
| March 2024 | ₹681.95 | ₹593.00 |
| April 2024 | ₹619.95 | ₹539.09 |
| May 2024 | ₹516.63 | ₹449.24 |
| June 2024 | ₹619.95 | ₹539.09 |
| July 2024 | ₹526.96 | ₹458.23 |
| August 2024 | ₹579.66 | ₹504.05 |
| September 2024 | ₹608.64 | ₹529.25 |
| October 2024 | ₹716.05 | ₹622.65 |
| November 2024 | ₹751.85 | ₹653.78 |
| December 2024 | ₹766.89 | ₹666.86 |
As per our analysis of Marico share price target for 2024, it is evident that the company’s shares are expected to continue their bullish trend.
The maximum price target for the year is estimated to be ₹766.89 in December 2024, while the minimum price target is expected to be ₹540.10 in January 2024.
The share prices of Marico are likely to see healthy returns for investors who hold on to their positions, as the growth percentage is expected to be significant.
| When | Maximum Price | Minimum Price |
| January 2025 | ₹782.22 | ₹601.71 |
| February 2025 | ₹823.39 | ₹633.38 |
| March 2025 | ₹864.56 | ₹665.05 |
| April 2025 | ₹771.93 | ₹593.79 |
| May 2025 | ₹701.76 | ₹539.81 |
| June 2025 | ₹771.93 | ₹593.79 |
| July 2025 | ₹735.17 | ₹565.52 |
| August 2025 | ₹765.81 | ₹589.08 |
| September 2025 | ₹804.10 | ₹618.54 |
| October 2025 | ₹852.34 | ₹655.65 |
| November 2025 | ₹912.01 | ₹701.54 |
| December 2025 | ₹930.25 | ₹715.57 |
Looking at the Marico share price target for 2025, it is expected that the company’s shares will continue to see an uptrend.
The maximum price target for the year is estimated to be ₹930.25 in December 2025, while the minimum price target is expected to be ₹601.71 in January 2025.
If all things go well, Marico could touch 100,000 Crore INR marketcap in 2025.
Investment experts might recommend buying the shares with a long-term perspective.
| When | Maximum Price | Minimum Price |
| 2026 | ₹976.76 | ₹683.73 |
| 2027 | ₹1,074.43 | ₹752.10 |
| 2028 | ₹1,504.21 | ₹752.10 |
| 2029 | ₹1,302.34 | ₹651.17 |
| 2030 | ₹1,562.81 | ₹1,093.97 |
Looking at Marico share price target from 2026 to 2030, it is expected that the company’s shares will experience both bullish and bearish trends.
The maximum price target for the period is estimated to be ₹1,562.81 in 2030, while the minimum price target is expected to be ₹683.73 in 2026.
Similarly, in 2027, the maximum price target is estimated to be ₹1,074.43, and the minimum price target is expected to be ₹752.10.
However, in 2028, the maximum price target is estimated to be ₹1,504.21, and the minimum price target is expected to be ₹752.10. In 2029, the maximum price target is estimated to be ₹1,302.34, and the minimum price target is expected to be ₹651.17.
Based on this data, investors should conduct thorough research and analysis before making any investment decisions.
Financial Condition of Marico: Last 5 years
| Marico Financials | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Sales (Crore INR) |
7,334 | 7,315 | 8,048 | 9,512 | 9,764 |
| Expenses (Crore INR) |
6,009 | 5,846 | 6,459 | 7,831 | 7,954 |
| Operating Profit (Crore INR) |
1,325 | 1,469 | 1,589 | 1,681 | 1,810 |
| OPM % | 18% | 20% | 20% | 18% | 19% |
| Other Income (Crore INR) |
103 | 95 | 107 | 98 | 144 |
| Interest (Crore INR) |
40 | 50 | 34 | 39 | 56 |
| Depreciation (Crore INR) |
131 | 140 | 139 | 139 | 155 |
| Profit before tax (Crore INR) |
1,257 | 1,374 | 1,523 | 1,601 | 1,743 |
| Tax % | 10% | 24% | 21% | 22% | 24% |
| Net Profit (Crore INR) |
1,131 | 1,043 | 1,199 | 1,255 | 1,322 |
| EPS in Rs | 8.63 | 7.91 | 9.08 | 9.48 | 10.07 |
| Dividend Payout % | 55% | 85% | 83% | 97% | 45% |
Over the past five years, Marico, a company in the consumer goods industry, has shown consistent growth in its financial performance. Its sales revenue has steadily increased from 7,334 in 2019 to 9,764 in 2023. The company has managed its expenses effectively, keeping them in line with sales growth.
Marico’s operating profit has also shown an upward trend, reaching 1,810 in 2023. Despite slight fluctuations, the operating profit margin (OPM %) has remained relatively stable, ranging from 18% to 20% during this period.
Additionally, Marico has generated supplementary income through other sources and has efficiently managed its interest and depreciation expenses. This has led to consistent growth in its net profit, with figures rising from 1,131 in 2019 to 1,322 in 2023.
The company has also maintained a dividend payout, although it decreased significantly in 2023 to 45% compared to previous years. Overall, Marico’s financial performance demonstrates its ability to navigate the market and generate steady profits.
Sharekhan has recommended purchasing shares of Marico, stating that investors can continue buying the stock with a target price of Rs 645. (May 9th, 2023)
Motilal Oswal has recommended purchasing shares of Marico, stating that investors can continue buying the stock with a target price of Rs 590. (May 8th, 2023)
ICICI Securities has upgraded the ratings of Marico Industries, and has shared as price target of Rs. 670. (October 1, 2023)
FAQS
As of 3rd of October 2023, the current share price of Marico is ₹573.
Based on various financial projections and market analysis, the target share price of Marico for 2023-2030 is expected to range between ₹504.00 to ₹1,562.81.
Can Marico reach a target of ₹5,000 by 2025?
As per our price prediction, with annual sales growth of just 10% over the last 3 years, it is difficult for Marico to reach Rs. 5000 by 2025.
What is the expected revenue growth rate for Marico?
Based on the current market trends and financial projections, the expected revenue growth rate for Marico per year is approximately 10-12.5%.
How has Marico’s profit and loss statement looked in recent years?
Marico has shown steady growth in its profit and loss statement in recent years, with its net profit increasing from ₹1,131 crores in 2019 to ₹1322 crores in 2023.
What is the PAT margin of Marico?
As of 2023, Marico’s PAT margin is approximately 13.54%, indicating a healthy and profitable business model.
Based on current market trends and financial analysis, Marico shares are considered to be a good investment opportunity for long-term growth potential. However, it is always important to conduct your own research and consult with a financial advisor before making any investment decisions.
Check other FMCG companies
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- What will be ITC’s share price target for 2025?
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If you want the P/E ratio of all top FMCGs compared, click here.
Things to know About Marico Ltd. before Buying This Stock in October 2023
- Marico’s stock is nearing its 52-week high, being only 0.66% away, and it’s well above the 52-week low by 24.13%.
- Promoters’ pledge and holdings are stable at 0.13% and 59.42%, respectively, as of Q2 2023.
- Mutual Funds have slightly increased their stakes in Marico from 3.17% to 3.29%, with the number of MF schemes steady at 26.
- FII/FPI holdings slightly dipped from 24.97% to 24.96%, but the number of these investors remained at 810.
- Institutional Investors increased their holdings a bit from 35.40% to 35.51% in Q2 2023.
- Lastly, the stock shows strong momentum, outperforming its short, medium, and long-term averages.
- Debt/Equity Ratio is 0.13 which is less than one.
Conclusion: Is Marico Industries a good stock to buy in 2023?
Marico Industries, a consumer goods company, has showcased consistent growth in its financial performance over the past five years.
However, Marico needs to improve their sales and profit numbers. Just 8-9% revenue growth may not be high compared to other FMCG companies like ITC and Nestle India.
With increasing sales revenue, effective expense management, and a steady operating profit margin, Marico could increase their market share in 2023 and 2024.
The company’s net profit has shown a positive trend, and its earnings per share have consistently improved. However, I feel there is still a lot of scope for improvement.
Marico has also maintained a healthy dividend payout of 74.8%, indicating its commitment to rewarding shareholders. These financial indicators, along with a positive PAT margin of approximately 13.54% in 2023, reflect Marico’s strong financial position and potential for future growth and dividends.
What did we learn?
- 1 How to purchase Marico shares?
- 2 Marico Share Price Target: 2023 to 2030
- 3 Financial Condition of Marico: Last 5 years
- 4 Sharekhan on Marico share price target
- 5 Motilal Oswal on Marico share price target
- 6 ICICI Securities on Marico Industries Share Price Target
- 7 FAQS
- 7.1 What is the current share price of Marico?
- 7.2 What is the share price target of Marico for 2023-2030?
- 7.3 Can Marico reach a target of ₹5,000 by 2025?
- 7.4 What is the expected revenue growth rate for Marico?
- 7.5 How has Marico’s profit and loss statement looked in recent years?
- 7.6 What is the PAT margin of Marico?
- 7.7 What is the current recommendation for investing in Marico shares?
- 8 Things to know About Marico Ltd. before Buying This Stock in October 2023
- 9 Conclusion: Is Marico Industries a good stock to buy in 2023?
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