Shares of Marico are trading with losses of over 4%, reaching an intra-day low of Rs 642.50 in early trade on Tuesday, following the ongoing political crisis in Bangladesh.

Brokerages on Marico

Goldman Sachs on Marico

Goldman Sachs maintains a “buy” rating on Marico with an increased target price of ₹715, up from ₹660. The firm highlights improving volume growth despite corrections in distributor inventory and notes a sharp increase in revenue growth due to better pricing.

The report says that foods and digital fast personal care segments have delivered very strong growth. However, Goldman Sachs flags concerns regarding the Bangladesh business in the near term.

Jefferies on Marico

Jefferies maintains its “buy” rating on Marico, increasing the target price from ₹650 to ₹780. The report highlights improving growth trends and a positive outlook, with Marico delivering an acceleration in volume growth.

After two years, pricing trends have turned positive, and margins remain protected despite copra inflation. The growth outlook is positive, though the situation in Bangladesh needs to be monitored.

Morgan Stanley on Marico

Morgan Stanley maintains its equal-weight rating on Marico but has cut the target price to Rs 596. According to the report, Marico’s Q1 performance was in line with expectations, and the positive commentary continues.

Growth in the core business has improved sequentially. Management expects double-digit top-line growth in FY25 and has maintained a beta margin at FY24 levels (21%).

Motilal Oswal on Marico

Motilal Oswal reiterates its buy rating on Marico with a target price of ₹750, valuing the stock at 50x Jun’26E EPS. The report indicates no material change in FY25E/FY26E EPS estimates.

The report says factors such as improvement in rural markets, market share gains, accelerated growth in Foods and Premium Personal Care, and healthy growth in the international business are expected to drive better revenue in FY25-26.

Additionally, Marico’s “Project SETU” aims to enhance distribution reach and drive growth in general trade through transformative expansion. The company has been sustaining double-digit EBITDA growth, with an estimated 11% EPS CAGR during FY24-27E.

Despite a 35% rally in the last three months, Motilal Oswal believes the rich valuation will persist due to earnings acceleration.

Stock performance in last one year

In terms of stock performance, Macrio shares have demonstrated positive returns across multiple time frames. Over the past month, the stock has given a commendable 1% return, showcasing its stability and growth potential. The last six months have seen even more impressive results, with a substantial increase of 24.36%, indicating a strong upward trend.

Year-to-date, TVS Motor shares have surged by 19.45%, reinforcing the stock’s positive momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 12.47% in the last twelve months, emphasizing its sustained growth and attractiveness to investors.

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