āagman

Not investment advice. Data and computed figures, for information only.

Marico Ltd

NSE: MARICOF&O
₹788.25
−₹1.75 (−0.22%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹1,02,216 Cr
CMP
₹788.25
52-wk High / Low
₹889 / 705
P/E
54.1
P/B
24.3
Book Value
₹32.4
Div Yield
0.51%
ROCE
47.0%
ROE
42.8%
Face Value
₹1
D/E
0.13

Price+10.4% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
4
/ 9
4 of 9 F-score tests passed
Graham Number
₹99
√(22.5 × EPS × book value per share)
ROIC
35.5%
vs 13.1% sector median
Cash flow to profit
1.15
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+36
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
31.0%
ROE × earnings retention ratio
ROE stability
3.0
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −0.01FII −0.68DII +0.70
Latest quarter vs the previous one
Cash-accrual divergence
−3.0%
of assets
Low = accruals track cash flow
Strengths
+ROCE has stayed above the sector median for 5 consecutive years (weakest: 43% vs the 2024 sector median of 21%)
+Annualised volatility of 18.5% is in the low band (≤25%)
Watch-outs
−Borrowings are up 68.3% since FY2016 (331 to 557)
−Price trades below its 200-day moving average (1.0x)
−Promoter holding fell by 0.5pp over the last year

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales2,4772,4762,4222,2782,6432,6642,7942,7303,2213,4823,5373,3013,957
Expenses1,9031,9791,9091,8362,0172,1422,2612,2722,5662,9222,9452,7803,138
Operating Profit574497513442626522533458655560592521819
OPM %23.2%20.1%21.2%19.4%23.7%19.6%19.1%16.8%20.3%16.1%16.7%15.8%20.7%
Other Income46384315378242475649396048
Interest17201917171113121012141721
Depreciation36394241414144524547506056
Profit before tax567476495399605552518441656550567504790
Net Profit436360386320474433406345513432460408652
EPS (₹)3.302.732.962.463.583.273.082.653.893.243.443.014.85

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales5,7336,0175,9186,3227,3347,3158,0489,5129,7649,65310,83113,61114,277
Expenses4,8634,9664,7595,1856,0095,8466,4597,8317,9547,6278,69211,28311,785
Operating Profit8701,0511,1591,1371,3251,4691,5891,6811,8102,0262,1392,3282,492
OPM %15.2%17.5%19.6%18.0%18.1%20.1%19.7%17.7%18.5%21.0%19.7%17.1%17.5%
Other Income599396851039510798144142208204196
Interest23211716405034395673535364
Depreciation84959089131140139139155158178202213
Profit before tax8221,0291,1491,1171,2571,3741,5231,6011,7431,9372,1162,2772,411
Net Profit5857238118271,1311,0431,1991,2551,3221,5021,6581,8131,952
EPS (₹)4.455.516.196.318.637.919.089.4810.0711.4412.5713.5714.54

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital64129129129129129129129129129129130—
Reserves1,7601,8882,1972,4142,8462,8943,1113,2193,6703,7033,8464,080—
Borrowings428331239312352338511479608528554557—
Other Liabilities8731,0101,0591,2171,5691,6031,6751,8502,3932,9933,7465,183—
Total Liabilities3,1253,3583,6234,0724,8964,9645,4265,6776,8007,3538,2759,950—
Fixed Assets1,0761,0501,0851,1101,3001,3961,6121,7602,2462,7242,7583,633—
CWIP33711274558243967444085—
Investments2845446085434507338548281,0966021,5902,083—
Other Assets1,7631,7271,9192,3923,1012,7772,9363,0503,3913,9833,8874,149—
Total Assets3,1253,3583,6234,0724,8964,9645,4265,6776,8007,3538,2759,950—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity6606658186495161,0621,2142,0071,0161,4191,3871,3632,084
Cash from Investing Activity−202−186−203−12559−367−22−933441−928176−621−722
Cash from Financing Activity−339−625−601−574−567−698−1,147−1,058−1,290−560−1,542−649−1,279
Net Cash Flow119−14714−518−34516167−69219383

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %29.038.044.045.042.042.043.043.043.042.043.045.047.0
ROE %————————————42.8
EPS (₹)3.764.455.516.196.318.637.919.089.4810.0711.4412.5713.57
Book Value (₹)————————————32.4
Face Value (₹)————————————1
P/E————————————54.1
Div Yield %————————————0.51
NPM %10.810.111.813.512.915.214.114.713.113.315.315.013.1
OPM %16.015.017.020.018.018.020.020.018.019.021.020.017.0
D/E0.500.230.160.100.120.120.110.160.140.160.140.140.13
P/B————————————24.3

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+9.0%
5 years+11.0%
3 years+12.0%
TTM+25.0%
Compounded profit growth
10 years+10.0%
5 years+9.0%
3 years+11.0%
TTM+13.0%
Stock price CAGR
10 years+11.0%
5 years+6.0%
3 years+13.0%
Last year+10.0%
Return on equity
10 years38.0%
5 years39.0%
3 years41.0%
Last year43.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters59.72%59.72%59.71%59.71%59.60%59.61%59.49%59.42%59.34%59.05%58.93%58.92%
FIIs28.89%28.89%27.42%26.56%22.69%24.04%25.11%24.97%25.55%22.09%24.08%23.40%
DIIs4.00%4.00%6.38%5.47%10.51%10.06%8.76%9.99%9.78%14.12%12.17%12.87%
Government0.15%0.15%0.13%0.17%0.23%0.18%0.09%0.10%0.10%0.10%0.13%0.15%
Public7.02%7.02%6.22%8.01%6.89%6.01%6.45%5.43%5.13%4.53%4.49%4.49%
No. of shareholders62,90662,90663,31889,8441,70,8652,07,7103,32,2293,47,5693,18,5562,86,7702,87,7642,93,560
Change since Jun 2023 (pp)
Promoters −0.80FIIs −5.49DIIs +8.87Public −2.53

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Board Meeting Intimation for Notice Of The Board Meeting Scheduled To Be Held On Monday, November 2, 2026Announcement under Regulation 30 (LODR)-AcquisitionQuarterly Update - Q2 FY 2026-27Announcement under Regulation 30 (LODR)-Change in Directorate
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingMay 2026TranscriptMay 2026PPTFeb 2026TranscriptFeb 2026PPTJan 2026TranscriptJan 2026PPTJan 2026RecordingNov 2025TranscriptNov 2025PPTNov 2025Recording

Corporate actions

As of 30 Jul 2026
30 Jul 2026DIVIDENDDividend - Rs 4 Per Share—
1 Aug 2025DIVIDENDDividend - Rs 7 Per Share—
7 Feb 2025DIVIDENDInterim Dividend - Rs 3.50 Per Share—
6 Mar 2024DIVIDENDInterim Dividend - Rs. 6.50 Per Share—
7 Nov 2023DIVIDENDInterim Dividend - Rs 3 Per Share—
8 Mar 2023DIVIDENDInterim Dividend - Rs 4.50 Per Share—
4 Feb 2022DIVIDENDInterim Dividend - Rs 6.25 Per Share—
8 Nov 2021DIVIDEND Interim Dividend - Rs 3 Per Share—
10 Mar 2021DIVIDEND Interim Dividend - Rs 4.50 Per Share—
5 Nov 2020DIVIDEND Interim Dividend - Rs 3 Per Share—
16 Mar 2020DIVIDEND Interim Dividend - Rs 0.75 Per Share—
6 Feb 2020DIVIDEND Interim Dividend - Rs 3.25 Per Share—
4 Nov 2019DIVIDEND Interim Dividend - Rs 2.75 Per Sh—
12 Feb 2019DIVIDEND Interim Dividend - Rs 2.75 Per Share—
12 Nov 2018DIVIDEND Interim Dividend - Rs 2 Per Sh—
16 Feb 2018DIVIDEND Interim Dividend - Rs 2.50 Per Share (Purpose Revised)—
6 Nov 2017DIVIDEND Interim Dividend - Rs 1.75 Per Share (Purpose Revised)—
9 Feb 2017DIVIDEND Interim Dividend Rs 2/- Per Share (Purpose Revised)—
16 Nov 2016DIVIDEND Interim Dividend - Rs 1.50/- Per Share—
17 Mar 2016DIVIDEND Interim Dividend - Re 1/- Per Share (Purpose Revised)—
5 Feb 2016DIVIDEND Interim Dividend Rs 1.50 Per Share (Purpose Revised)—
22 Dec 2015BONUS Bonus 1:1—
9 Nov 2015DIVIDEND Interim Dividend Rs 1.75 Per Share (Purposed Revised)—
6 Feb 2015DIVIDENDSecond Interim Dividend - Rs 1.50/- Per Share (Purpose Revised)—
13 Nov 2014DIVIDENDFirst Interim Dividend - Re 1/- Per Share (Purpose Revised)—
27 Mar 2014DIVIDENDSilver Jubilee Third Interim Dividend Re 1.75/- Per Equity Share (Purpose Revised)—
6 Feb 2014DIVIDENDInterim Dividend Re 1/- Per Share—
1 Nov 2013DIVIDENDScheme Of Arrangement And First Interim Dividend—
3 May 2013DIVIDENDSecond Interim Dividend Re.0.50 Per Equity Share (Purpose Revised)—
7 Nov 2012DIVIDENDInterim Dividend Re.0.50 Per Share (Purpose Revised)—
8 May 2012DIVIDENDInterim Dividend - Re.0.40 Per Share (Purpose Revised)—
9 Nov 2011DIVIDEND1st Interim Dividend Re.0.30 Per Share (Purpose Revised)—
6 May 2011DIVIDEND2nd Interim Dividend Re 0.36 Per Share (Purpose Revised)—
1 Nov 2010DIVIDENDInterim Dividend-Re.0.30 Per Share (Purpose Revised)—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman