Street View: Analysts see India's Marico sustaining volume, margin growth

Marico

03/07/2026 06:05

** Consumer goods maker Marico MRCO.NS says it expects consolidated first-quarter revenue to grow in the low-twenties percentage range, helped by robust performance across its core, digital and international businesses
** Shares of Marico down 1.8% at 840.3 rupees
     
TOPLINE GROWTH EXPECTED, VALUATION WORRIES PERSIST
** CLSA maintains "Underperform" rating, saying the stock is pricing much higher in EBITDA growth of 20% for a decade than what Marico is likely to deliver, but raises TP to 556 rupees from 519 rupees 
** Antique Stock Broking ("Buy"; PT: 985 rupees) says co's hair oil portfolio remains key positive and should support profitability 
** Expects gross margins to improve sequentially on easing coconut prices; sees EBITDA at CAGR of 24%
** Macquarie ("Outperform"; PT: 890 rupees) expects sequential uptick in India volume growth to 10%, driving 15% EBITDA growth
** Investec ("Buy"; PT: 909 rupees) expects MRCO to sustain strong volume-led growth in FY27; co among brokerage's top picks in large-cap FMCG firms


 (Reporting by Mridula Kumar in Bengaluru)
 ((mridula.kumar@thomsonreuters.com))