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Last Updated: April 2, 2026, 3:19 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 531642 | NSE: MARICO

Marico Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹589.60Overvalued by 20.75%vs CMP ₹744.00

P/E (56.4) × ROE (41.3%) × BV (₹31.20) × DY (1.41%)

₹236.70Overvalued by 68.19%vs CMP ₹744.00
MoS: -214.3% (Negative)Confidence: 68/100 (Moderate)Models: All 9: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹630.1422%Over (-15.3%)
Graham NumberEarnings₹96.3416%Over (-87.1%)
Earnings PowerEarnings₹91.6713%Over (-87.7%)
DCFCash Flow₹192.8113%Over (-74.1%)
Net Asset ValueAssets₹31.197%Over (-95.8%)
EV/EBITDAEnterprise₹209.619%Over (-71.8%)
Earnings YieldEarnings₹132.207%Over (-82.2%)
ROCE CapitalReturns₹131.209%Over (-82.4%)
Revenue MultipleRevenue₹125.075%Over (-83.2%)
Consensus (9 models)₹236.70100%Overvalued
Key Drivers: Wide model spread (₹31–₹630) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 6.9%

*Investments are subject to market risks

Investment Snapshot

74
Marico Ltd scores 74/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health92/100 · Strong
ROCE 45.2% ExcellentROE 41.3% ExcellentD/E 0.10 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 1.93% (6mo) AccumulatingDII holding down 1.89% MF sellingPromoter holding at 58.9% Stable
Earnings Quality50/100 · Moderate
OPM stable around 21% Steady
Quarterly Momentum78/100 · Strong
Revenue (4Q): +25% YoY AcceleratingProfit (4Q): +7% YoY Positive
Industry Rank85/100 · Strong
P/E 56.4 vs industry 263.2 Cheaper than peersROCE 45.2% vs industry 14.3% Above peersROE 41.3% vs industry 12.9% Above peers3Y sales CAGR: 4% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:19 am

Market Cap 96,647 Cr.
Current Price 744
Intrinsic Value₹236.70
High / Low 814/640
Stock P/E56.4
Book Value 31.2
Dividend Yield1.41 %
ROCE45.2 %
ROE41.3 %
Face Value 1.00
PEG Ratio8.20

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Marico Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Marico Ltd 96,647 Cr. 744 814/64056.4 31.21.41 %45.2 %41.3 % 1.00
Adani Wilmar Ltd 23,736 Cr. 183 291/17124.8 76.20.00 %20.9 %13.9 % 1.00
Gujarat Ambuja Exports Ltd 6,392 Cr. 139 149/10131.1 67.50.18 %11.5 %8.64 % 1.00
Gokul Agro Resources Ltd 5,634 Cr. 191 222/96.018.8 41.20.00 %34.2 %27.0 % 1.00
CIAN Agro Industries & Infrastructure Ltd 1,996 Cr. 713 3,633/3574,338 33.00.00 %8.54 %1.06 % 10.0
Industry Average11,412.83 Cr130.95263.2137.260.19%14.31%12.90%4.29

All Competitor Stocks of Marico Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 2,4702,2402,4772,4762,4222,2782,6432,6642,7942,7303,2593,4823,537
Expenses 2,0141,8471,9031,9791,9091,8362,0172,1422,2612,2722,6042,9222,945
Operating Profit 456393574497513442626522533458655560592
OPM % 18%18%23%20%21%19%24%20%19%17%20%16%17%
Other Income 40684638431537824247564939
Interest 14171720191717111312101214
Depreciation 39433639424141414452454750
Profit before tax 443401567476495399605552518441656550567
Tax % 25%24%23%24%22%20%22%22%22%22%22%21%19%
Net Profit 333305436360386320474433406345513432460
EPS in Rs 2.542.343.302.732.962.463.583.273.082.653.893.243.44

Last Updated: February 5, 2026, 1:40 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 12:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 4,6875,7336,0175,9186,3227,3347,3158,0489,5129,7649,65310,83113,008
Expenses 3,9394,8634,9664,7595,1856,0095,8466,4597,8317,9547,6278,69210,743
Operating Profit 7488701,0511,1591,1371,3251,4691,5891,6811,8102,0262,1392,265
OPM % 16%15%17%20%18%18%20%20%18%19%21%20%17%
Other Income 58599396851039510798144142208191
Interest 34232117164050343956735348
Depreciation 7784959089131140139139155158178194
Profit before tax 6958221,0291,1491,1171,2571,3741,5231,6011,7431,9372,1162,214
Tax % 27%29%30%29%26%10%24%21%22%24%22%22%
Net Profit 5045857238118271,1311,0431,1991,2551,3221,5021,6581,750
EPS in Rs 3.764.455.516.196.318.637.919.089.4810.0711.4412.5713.22
Dividend Payout % 46%28%77%57%67%55%85%83%97%45%83%83%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)16.07%23.59%12.17%1.97%36.76%-7.78%14.96%4.67%5.34%13.62%10.39%
Change in YoY Net Profit Growth (%)0.00%7.52%-11.42%-10.20%34.79%-44.54%22.74%-10.29%0.67%8.28%-3.23%

Marico Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: December 10, 2025, 3:03 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 6464129129129129129129129129129129130
Reserves 1,2961,7601,8882,1972,4142,8462,8943,1113,2193,6703,7033,8463,922
Borrowings 680428331239312352338511479608528554575
Other Liabilities 9258731,0101,0591,2171,5691,6031,6751,8502,3932,9933,7524,052
Total Liabilities 2,9653,1253,3583,6234,0724,8964,9645,4265,6776,8007,3538,2818,679
Fixed Assets 8881,0761,0501,0851,1101,3001,3961,6121,7602,2462,7242,7582,791
CWIP 433711274558243967444052
Investments 3112845446085434507338548281,0966021,5901,394
Other Assets 1,7621,7631,7271,9192,3923,1012,7772,9363,0503,3913,9833,8934,442
Total Assets 2,9653,1253,3583,6234,0724,8964,9645,4265,6776,8007,3538,2818,679

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 6606658186495161,0621,2142,0071,0161,4191,3871,363
Cash from Investing Activity + -202-186-203-12559-367-22-933441-928176-621
Cash from Financing Activity + -339-625-601-574-567-698-1,147-1,058-1,290-560-1,542-649
Net Cash Flow 119-14714-518-34516167-692193
Free Cash Flow 5886077315673889191,0341,8708841,2371,2341,202
CFO/OP 113%101%101%82%71%104%102%144%81%99%87%86%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow68.00442.00-330.00-238.00-311.00-351.00-337.00-510.00-478.00-607.00-526.00-552.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 171115152026271825384043
Inventory Days 1511391101931901471571081069411693
Days Payable 95798010710398108109101112137103
Cash Conversion Cycle 73714610110674761730201933
Working Capital Days -1318023372724-11521416
ROCE %29%38%44%45%42%42%43%43%43%42%43%45%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 59.42%59.41%59.40%59.38%59.34%59.28%59.20%59.11%59.05%59.03%58.94%58.93%
FIIs 24.97%24.96%25.91%25.69%25.55%24.61%24.87%23.35%22.09%23.62%24.21%24.02%
DIIs 9.99%10.20%9.50%9.63%9.78%11.10%11.12%12.76%14.12%12.61%11.88%12.23%
Government 0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.11%0.11%
Public 5.43%5.20%4.99%5.12%5.13%4.80%4.61%4.61%4.53%4.51%4.58%4.49%
Others 0.11%0.11%0.11%0.08%0.11%0.11%0.11%0.08%0.12%0.12%0.26%0.22%
No. of Shareholders 3,47,5693,30,9073,08,0253,16,5793,18,5562,99,1543,02,1833,00,8052,86,7702,88,2182,89,1522,82,209

Shareholding Pattern Chart

No. of Shareholders

Marico Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Mid Cap Fund 30,066,907 2.38 2194.2829,425,0162026-02-23 07:11:402.18%
Franklin India Flexi Cap Fund 4,800,948 1.79 350.374,100,0002025-12-08 01:29:3117.1%
Edelweiss Mid Cap Fund 4,417,032 2.34 322.363,377,0952026-02-22 01:21:2130.79%
Sundaram Mid Cap Fund 3,412,215 1.93 249.023,663,8212026-02-22 17:11:46-6.87%
UTI Flexi Cap Fund 3,302,000 1.02 240.983,590,0002026-02-22 17:11:46-8.02%
Tata Arbitrage Fund 2,755,200 0.98 201.072,944,8002026-02-22 17:11:46-6.44%
ICICI Prudential Equity & Debt Fund 2,212,697 0.33 161.481,662,6972026-02-23 00:15:3633.08%
Franklin India Mid Cap Fund 1,800,000 1.07 131.36N/AN/AN/A
Franklin India ELSS Tax Saver Fund 1,733,734 1.96 126.531,800,0002025-12-08 01:29:31-3.68%
UTI Mid Cap Fund 1,700,000 1.08 124.07N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 12.5911.4610.089.509.08
Diluted EPS (Rs.) 12.5611.4310.059.499.08
Cash EPS (Rs.) 14.2312.8711.4510.8110.39
Book Value[Excl.RevalReserv]/Share (Rs.) 30.8132.3230.6726.4025.26
Book Value[Incl.RevalReserv]/Share (Rs.) 30.8132.3230.6726.4025.26
Revenue From Operations / Share (Rs.) 83.9674.8375.6973.7462.39
PBDIT / Share (Rs.) 18.1916.8115.1513.7913.06
PBIT / Share (Rs.) 16.8115.5813.9512.7111.98
PBT / Share (Rs.) 16.4015.0213.5112.4111.82
Net Profit / Share (Rs.) 12.8511.6410.259.739.31
NP After MI And SOA / Share (Rs.) 12.6311.4810.099.509.09
PBDIT Margin (%) 21.6622.4520.0118.7020.93
PBIT Margin (%) 20.0220.8218.4217.2419.20
PBT Margin (%) 19.5320.0617.8516.8318.94
Net Profit Margin (%) 15.3015.5513.5313.1914.92
NP After MI And SOA Margin (%) 15.0415.3413.3312.8714.56
Return on Networth / Equity (%) 40.9938.6434.2736.5836.17
Return on Capital Employeed (%) 36.9040.3839.8245.1444.20
Return On Assets (%) 19.5319.9518.7421.1721.27
Total Debt / Equity (X) 0.090.090.120.100.10
Asset Turnover Ratio (%) 1.371.341.531.501.34
Current Ratio (X) 2.071.641.571.631.66
Quick Ratio (X) 1.561.091.070.971.10
Inventory Turnover Ratio (X) 8.433.083.533.942.98
Dividend Payout Ratio (NP) (%) 27.8082.9844.7097.5582.59
Dividend Payout Ratio (CP) (%) 25.0674.9839.9487.6073.83
Earning Retention Ratio (%) 72.2017.0255.302.4517.41
Cash Earning Retention Ratio (%) 74.9425.0260.0612.4026.17
Interest Coverage Ratio (X) 44.2829.7034.8945.6249.56
Interest Coverage Ratio (Post Tax) (X) 32.2821.5824.6133.1835.94
Enterprise Value (Cr.) 83930.0563877.1061757.3064793.8552505.50
EV / Net Operating Revenue (X) 7.756.626.336.816.52
EV / EBITDA (X) 35.7629.4631.6136.4231.16
MarketCap / Net Operating Revenue (X) 7.766.646.346.836.60
Retention Ratios (%) 72.1917.0155.292.4417.40
Price / BV (X) 21.1516.7316.2919.4116.38
Price / Net Operating Revenue (X) 7.766.646.346.836.60
EarningsYield 0.010.020.020.010.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Marico Ltd. is a Public Limited Listed company incorporated on 13/10/1988 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L15140MH1988PLC049208 and registration number is 049208. Currently Company is involved in the business activities of Manufacture of vegetable oils and fats excluding corn oil. Company's Total Operating Revenue is Rs. 7581.00 Cr. and Equity Capital is Rs. 129.00 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Edible Oils & Solvent Extraction7th Floor, Grande Palladium, 175, CST Road, Mumbai Maharashtra 400098Contact not found
Management
NamePosition Held
Mr. Harsh MariwalaChairman & Non-Exe.Director
Mr. Saugata GuptaManaging Director & CEO
Mr. Nikhil KhattauNon Executive Director
Mr. Rishabh MariwalaNon Executive Director
Mr. Rajendra MariwalaNon Executive Director
Mr. Milind BarveLead Independent Director
Mr. Ananth SankaranarayananIndependent Director
Mr. Rajeev VasudevaIndependent Director
Ms. Apurva PurohitIndependent Director
Ms. Nayantara BaliIndependent Director
Mr. Rajan Bharti MittalIndependent Director

FAQ

What is the intrinsic value of Marico Ltd and is it undervalued?

As of 14 April 2026, Marico Ltd's intrinsic value is ₹236.70, which is 68.19% lower than the current market price of ₹744.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (41.3 %), book value (₹31.2), dividend yield (1.41 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Marico Ltd?

Marico Ltd is trading at ₹744.00 as of 14 April 2026, with a FY2026-2027 high of ₹814 and low of ₹640. The stock is currently in the middle of its 52-week range. Market cap stands at ₹96,647 Cr..

How does Marico Ltd's P/E ratio compare to its industry?

Marico Ltd has a P/E ratio of 56.4, which is below the industry average of 263.21. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Marico Ltd financially healthy?

Key indicators for Marico Ltd: ROCE of 45.2 % indicates efficient capital utilization; ROE of 41.3 % shows strong shareholder returns. Dividend yield is 1.41 %.

Is Marico Ltd profitable and how is the profit trend?

Marico Ltd reported a net profit of ₹1,658 Cr in Mar 2025 on revenue of ₹10,831 Cr. Compared to ₹1,255 Cr in Mar 2022, the net profit shows an improving trend.

Does Marico Ltd pay dividends?

Marico Ltd has a dividend yield of 1.41 % at the current price of ₹744.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Marico Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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