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 favorite 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 2024 and 2030. Is it wise to acquire this stock?
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.
Below are the trading platforms that you can use to purchase Marico shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| April 2024 | 550.80 | 478.96 |
| May 2024 | 542.66 | 471.88 |
| June 2024 | 562.20 | 488.87 |
| July 2024 | 556.57 | 483.98 |
| August 2024 | 578.84 | 503.34 |
| September 2024 | 601.99 | 523.47 |
| October 2024 | 590.19 | 513.21 |
| November 2024 | 607.89 | 528.60 |
| December 2024 | 623.09 | 541.82 |
Marico’s stock performance in 2024 has shown promising growth potential, with share price targets ranging from ₹478.96 to ₹623.09 throughout the year. Market cap stands at ₹65,934 Cr.
| When | Maximum Price | Minimum Price |
| January 2025 | 635.55 | 488.89 |
| February 2025 | 651.85 | 501.42 |
| March 2025 | 677.27 | 520.98 |
| April 2025 | 663.99 | 510.76 |
| May 2025 | 644.65 | 495.88 |
| June 2025 | 673.66 | 518.20 |
| July 2025 | 660.45 | 508.04 |
| August 2025 | 680.88 | 523.75 |
| September 2025 | 704.71 | 542.08 |
| October 2025 | 723.03 | 556.18 |
| November 2025 | 741.11 | 570.08 |
| December 2025 | 759.63 | 584.33 |
In 2025, Marico’s share price targets demonstrate significant growth potential, with projections ranging from ₹488.89 to ₹759.63 throughout the year.
| When | Maximum Price | Minimum Price |
| January 2026 | 782.42 | 601.86 |
| February 2026 | 802.48 | 617.30 |
| March 2026 | 833.78 | 641.37 |
| April 2026 | 817.43 | 628.79 |
| May 2026 | 793.62 | 610.48 |
| June 2026 | 829.34 | 637.95 |
| July 2026 | 813.08 | 625.44 |
| August 2026 | 838.22 | 644.79 |
| September 2026 | 867.56 | 667.35 |
| October 2026 | 890.12 | 684.70 |
| November 2026 | 912.37 | 701.82 |
| December 2026 | 935.18 | 719.37 |
| When | Maximum Price | Minimum Price |
| January 2027 | 953.88 | 733.76 |
| February 2027 | 978.34 | 752.57 |
| March 2027 | 1,016.50 | 781.92 |
| April 2027 | 996.56 | 766.59 |
| May 2027 | 967.54 | 744.26 |
| June 2027 | 1,011.08 | 777.75 |
| July 2027 | 991.25 | 762.50 |
| August 2027 | 1,021.91 | 786.08 |
| September 2027 | 1,057.68 | 813.60 |
| October 2027 | 1,085.18 | 834.75 |
| November 2027 | 1,112.31 | 855.62 |
| December 2027 | 1,140.11 | 877.01 |
| When | Maximum Price | Minimum Price |
| January 2028 | 1,162.92 | 894.55 |
| February 2028 | 1,192.73 | 917.49 |
| March 2028 | 1,239.25 | 953.27 |
| April 2028 | 1,214.95 | 934.58 |
| May 2028 | 1,179.56 | 907.36 |
| June 2028 | 1,232.65 | 948.19 |
| July 2028 | 1,208.48 | 929.60 |
| August 2028 | 1,245.85 | 958.35 |
| September 2028 | 1,289.46 | 991.89 |
| October 2028 | 1,322.98 | 1,017.68 |
| November 2028 | 1,356.06 | 1,043.12 |
| December 2028 | 1,389.96 | 1,069.20 |
| When | Maximum Price | Minimum Price |
| January 2029 | 1,417.76 | 1,090.58 |
| February 2029 | 1,454.11 | 1,118.55 |
| March 2029 | 1,510.82 | 1,162.17 |
| April 2029 | 1,481.20 | 1,139.38 |
| May 2029 | 1,438.05 | 1,106.20 |
| June 2029 | 1,502.77 | 1,155.97 |
| July 2029 | 1,473.30 | 1,133.31 |
| August 2029 | 1,518.87 | 1,168.36 |
| September 2029 | 1,572.03 | 1,209.25 |
| October 2029 | 1,612.90 | 1,240.69 |
| November 2029 | 1,653.22 | 1,271.71 |
| December 2029 | 1,694.55 | 1,303.50 |
| When | Maximum Price | Minimum Price |
| January 2030 | 1,728.44 | 1,329.57 |
| February 2030 | 1,772.76 | 1,363.66 |
| March 2030 | 1,841.90 | 1,416.85 |
| April 2030 | 1,805.79 | 1,389.07 |
| May 2030 | 1,753.19 | 1,348.61 |
| June 2030 | 1,832.08 | 1,409.29 |
| July 2030 | 1,796.16 | 1,381.66 |
| August 2030 | 1,851.71 | 1,424.39 |
| September 2030 | 1,916.52 | 1,474.25 |
| October 2030 | 1,966.35 | 1,512.58 |
| November 2030 | 2,015.51 | 1,550.39 |
| December 2030 | 2,065.90 | 1,589.15 |
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.
Motilal Oswal recommends purchasing Marico with a target price of Rs 660.
FAQS
As of 6th of April 2024, the current share price of Marico is ₹510.
Based on various financial projections and market analysis, the target share price of Marico for 2024-2030 is expected to range between ₹478.96 to ₹2,065.90.
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 2024, 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 research and consult with a financial advisor before making any investment decisions.
Check other FMCG companies
- Nestle India Share Price Target
- What will be ITC’s share price target for 2025?
- What is Dabur India’s Share Price target for 2030?
If you want the P/E ratio of all top FMCGs compared, click here.
Conclusion: Is Marico Industries a good stock to buy in 2024?
Marico Industries, a consumer goods company, has showcased consistent growth in its financial performance over the past five years.
However, Marico needs to improve its 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 its market share in 2024 and 2025.
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 2024, 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: 2024 to 2030
- 3 Financial Condition of Marico: Last 5 years
- 4 Motilal Oswal on Marico share price target
- 5 FAQS
- 5.1 What is the current share price of Marico?
- 5.2 What is the share price target of Marico for 2024-2030?
- 5.3 Can Marico reach a target of ₹5,000 by 2025?
- 5.4 What is the expected revenue growth rate for Marico?
- 5.5 How has Marico’s profit and loss statement looked in recent years?
- 5.6 What is the PAT margin of Marico?
- 5.7 What is the current recommendation for investing in Marico shares?
- 6 Conclusion: Is Marico Industries a good stock to buy in 2024?
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