Marico (MARICO) · mywealthgrid

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About

Marico is a home-grown FMCG company anchored by Parachute and Saffola, with market capitalization ₹1,12,312 Cr and consolidated quarterly revenues reaching ₹3,957 Cr (Jun 2026). It is diversifying from oils and beauty care into foods and direct-to-consumer channels, reflecting a shift toward higher-growth consumer segments.

Founded: 1990
Face value: ₹1

Market cap

₹1,01,427 Cr

P/E

53.7×

P/B

24.1×

Dividend yield

1.4%

ROE

43.1%

ROCE

39.3%

Debt / equity

0.08

OPM

17.1%

EPS (TTM)

₹14.5

Book value

₹32.4

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

PE 59.49 is elevated; verify growth assumptions underlying valuation and whether earnings delivery can sustain this multiple over 2–3 years.
OPM swung 12.79% (Mar 2026) to 20.7% (Jun 2026); verify whether margin fluctuation is structural (cost/pricing cycle) or signals execution inconsistency.
Stock near 52-week high (₹865.2 vs ₹885.35 range) offers limited upside and faces correction risk.
Contribution of foods and D2C to current revenue unquantified; verify: scale, unit profitability, and pathway to material earnings impact.

Generated analysis · source review pending

Growth drivers

OPM improved from 12.79% (Mar 2026) to 20.7% (Jun 2026), suggesting recent margin expansion; verify whether structural (mix/pricing) or temporary.
Foods and D2C expansion (noted in description) addresses faster-growing consumer segments; verify current penetration and channel-level unit economics.
ROE 43.05% funds reinvestment in new categories or shareholder returns; verify capital allocation priorities and returns on incremental investment.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹781.4-0.7%1Y

Quick read

rule-based

Pros

+Strong return on equity of 41.2% (3-yr avg)
+High return on capital employed of 40.5%
+Almost debt-free (debt/equity 0.1)
+Comfortable interest coverage of 44×
+Dividend payout of 75.6% of profit

Cons

−Trading at 24.1× book value

Research score

Structured signal from quality, growth, valuation and momentum.

53/100

Business quality: 87
Growth: 65
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MIDCAP 50 NIFTY MIDCAP 150 NIFTY 200 NIFTY MIDSMALLCAP 400 NIFTY 500

Screen this industry

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	6,024	5,936	6,333	7,334	7,315	8,048	9,512	9,764	9,653	10,831	13,611
COGS	3,071	2,826	3,348	4,017	3,745	4,270	5,436	5,351	4,748	5,388	7,559
Gross profit	2,954	3,110	2,985	3,317	3,570	3,778	4,076	4,413	4,905	5,443	6,052
	1,903	1,951	1,847	2,037	2,101	2,189	2,395	2,603	2,879	3,304	3,724
	1,051	1,159	1,138	1,280	1,469	1,589	1,681	1,810	2,026	2,139	2,328
OPM %	17.5%	19.5%	18%	17.5%	20.1%	19.7%	17.7%	18.5%	21%	19.8%	17.1%
Depreciation	95	90	89	96	140	139	139	155	158	178	202
Interest	21	17	16	24	50	34	39	56	73	53	53
	93	97	85	103	95	107	98	144	142	208	204
Profit before tax	—	—	1,117	1,263	1,374	1,523	1,601	1,743	1,937	2,116	2,277
Tax	305	338	290	128	331	324	346	421	435	458	464
Tax %	—	—	25.9%	10.1%	24.1%	21.3%	21.6%	24.2%	22.5%	21.6%	20.4%
	723	811	827	1,135	1,043	1,199	1,255	1,322	1,502	1,658	1,813
PAT margin %	12%	13.7%	13.1%	15.5%	14.3%	14.9%	13.2%	13.5%	15.6%	15.3%	13.3%
EPS (₹)	5.5	6.2	6.3	8.7	7.9	9.1	9.5	10.1	11.5	12.6	13.6
EPS adjusted (₹)	11.2	6.3	6.3	8.7	8.1	9.1	9.5	10.1	11.5	12.6	13.6
	76.9%	56.4%	67.2%	54.8%	85.3%	82.6%	97.4%	44.6%	82.9%	83.4%	29.4%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	65	129	129	129	129	129	129	129	129	129	130
Reserves	2,319	2,233	2,447	2,900	2,900	3,111	3,219	3,670	3,703	3,846	4,080
Minority interest	—	—	—	—	7	18	57	157	337	291	284
	177	259	302	20	335	348	345	475	383	379	355
	666	1,012	1,203	1,193	1,599	1,904	2,036	2,515	2,869	3,693	5,226
Total equity & liabilities	3,226	3,633	4,081	4,242	4,970	5,510	5,786	6,946	7,421	8,338	10,075
	482	1,055	1,081	—	1,181	1,595	1,738	2,230	2,709	2,743	3,624
CWIP	2	11	27	—	58	24	39	67	44	40	85
Investments	1,393	592	523	411	733	871	850	1,112	617	1,605	2,092
	1,350	1,975	2,451	3,831	2,998	3,020	3,159	3,537	4,051	3,950	4,274
Total assets	3,226	3,633	4,081	4,242	4,970	5,510	5,786	6,946	7,421	8,338	10,075

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
India	10,348	1,661	4,832	1,774	3,058	54.32
International	3,263	813

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	45.2%	48.8%	46.9%	42.9%	45.2%	50.8%	50.3%	44.5%
EBITDA margin %	17.5%	20.1%	19.8%	17.7%	18.5%	21%	19.8%	17.1%
EBIT margin %	16.2%	18.2%	18%	16.2%	17%	19.4%	18.1%	15.6%
PAT margin %	15.5%	14.3%	14.9%	13.2%	13.5%	15.6%	15.3%	13.3%
Working capital
Receivable days	—	27	18	25	38	40	43	35
Inventory days	—	134	96	95	84	103	84	78
Payable days	—	93	97	90	99	122	92	79
NWC days	—	69	17	30	22	22	34	34
Leverage
Current ratio	1.87	1.8	1.65	1.63	1.57	1.64	2.07	1.43
Debt to EBITDA	0.02	0.23	0.22	0.21	0.26	0.19	0.18	0.15
Debt to equity	0.01	0.11	0.11	0.1	0.13	0.1	0.1	0.08
Interest coverage	53.7	29.1	45.5	42.1	32.1	27.5	40.9	44
Asset turnover	1.73	1.47	1.46	1.64	1.41	1.3	1.3	1.35
Return ratios
Return on assets %	26.8%	21%	21.8%	21.7%	19%	20.2%	19.9%	18%
Return on capital employed %	47.9%	48.7%	46.1%	46%	44.1%	42.3%	40%	39.3%
Return on equity %	37.5%	34.4%	37%	37.5%	34.8%	39.2%	41.7%	43.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	59.4%	59.39%	59.35%	59.41%	59.4%	59.5%	59.41%	59.19%	58.94%	58.93%	58.93%	58.91%
	25.91%	25.69%	25.54%	24.82%	23.71%	23.72%	24.01%	24.4%	24.21%	24.01%	24.08%	23.4%
	9.82%	9.96%	10.09%	8.35%	8.64%	8.84%	8.97%	8.76%	11.88%	12.23%	12.17%	12.87%
	0%	0%	0%	0%	0%	0%	0%	0%	0.11%	0.11%	0.13%	0.15%
	4.76%	4.88%	4.91%	7.42%	8.24%	7.94%	7.61%	7.65%	4.6%	4.5%	4.5%	4.49%
No. of shareholders	—	—	—	—	—	—	—	—	2,89,152	2,82,209	2,87,764	2,93,560

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹786.0 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹793.8	-4.8	-0.6%	₹793.8	15,339	+508	1,513	1200
23 Nov 2026	₹795.1	-7.3	-0.9%	₹795.1	60	+1	19	1200
29 Dec 2026	₹802.0	+3.1	+0.4%	₹798.4	4	+4	4	1200

Open the chart icon on a row for that contract's close over 103 stored sessions, with open interest as bars beneath it.

28

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
0	0	0	₹0.0	660

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

141

across 23 fund houses

Held by these funds

3.12%

of the company's equity

All mutual funds

8.43%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

141 schemes · 23 fund houses

		Shares
Midcap Fund	Axis Mutual Fund	58.98 L	483.64	1.37%	0.454%	-0
Franklin India Flexi Cap Fund ( Formerly known as Franklin India Equity Fund) ^NEW	Franklin Templeton Mutual Fund	48.01 L	393.68	2.03%	0.37%	—
ELSS- Tax Saver Fund	Axis Mutual Fund	21.07 L	172.74	0.53%	0.162%	+1.35 L
MID CAP FUND	Tata Mutual Fund	19 L	155.8	2.5%	0.146%	-0
Quant Fund	SBI Mutual Fund	13.47 L	110.42	3.78%	0.104%	+1.95 L
Quality Fund	SBI Mutual Fund	12.9 L	105.8	3.98%	0.099%	-0
Franklin India Large & Mid Cap Fund (Formerly known as Franklin India Equity Advantage Fund)^	Franklin Templeton Mutual Fund	12.6 L	103.29	2.85%	0.097%	+3.35 L
Franklin India Large Cap Fund (Formerly known as Franklin India Bluechip Fund)^	Franklin Templeton Mutual Fund	10.97 L	89.98	1.2%	0.085%	+3.55 L

1–8 of 141

1 / 18

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

40

Final dividend30 Jul 2026 · ex-date₹4
Final dividend1 Aug 2025 · ex-date₹7
Interim dividend7 Feb 2025 · ex-date₹3.5
Interim dividend6 Mar 2024 · ex-date₹6.5
Interim dividend7 Nov 2023 · ex-date₹3
Interim dividend8 Mar 2023 · ex-date₹4.5
Interim dividend4 Feb 2022 · ex-date₹6.25
Interim dividend8 Nov 2021 · ex-date₹3
Interim dividend10 Mar 2021 · ex-date₹4.5
Interim dividend5 Nov 2020 · ex-date₹3
Interim dividend16 Mar 2020 · ex-date₹0.75
Interim dividend6 Feb 2020 · ex-date₹3.25
Interim dividend4 Nov 2019 · ex-date₹2.75
Interim dividend12 Feb 2019 · ex-date₹2.75
Interim dividend12 Nov 2018 · ex-date₹2
Interim dividend16 Feb 2018 · ex-date₹2.5
Interim dividend6 Nov 2017 · ex-date₹1.75
Interim dividend9 Feb 2017 · ex-date₹2
Interim dividend16 Nov 2016 · ex-date₹1.5
Interim dividend17 Mar 2016 · ex-date₹1
Interim dividend5 Feb 2016 · ex-date₹1.5
Interim dividend9 Nov 2015 · ex-date₹1.75
Interim dividend6 Feb 2015 · ex-date₹1.5
Interim dividend13 Nov 2014 · ex-date₹1
Interim dividend27 Mar 2014 · ex-date₹1.75
Interim dividend6 Feb 2014 · ex-date₹1
Interim dividend1 Nov 2013 · ex-date₹0.75
Interim dividend3 May 2013 · ex-date₹0.5
Interim dividend7 Nov 2012 · ex-date₹0.5
Interim dividend8 May 2012 · ex-date₹0.4
Interim dividend9 Nov 2011 · ex-date₹0.3
Interim dividend6 May 2011 · ex-date₹0.36
Interim dividend1 Nov 2010 · ex-date₹0.3
Interim dividend3 May 2010 · ex-date₹0.36
Interim dividend30 Oct 2009 · ex-date₹0.3
Interim dividend27 Apr 2009 · ex-date₹0.35
Interim dividend24 Oct 2008 · ex-date₹0.3
Interim dividend29 Apr 2008 · ex-date₹0.37
Interim dividend29 Oct 2007 · ex-date₹0.15
Interim dividend30 Jul 2007 · ex-date₹0.13

1

Board meeting to consider results4 Aug 2026

1

Bonus 1:122 Dec 2015 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

26 announcementsExport CSV

1 Oct 2026, 3:11 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Directorate

Change in Directorate PDF

18 Sept 2026, 5:35 pmCompany Update

Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 - ESG Ratings

General PDF

10 Sept 2026, 6:21 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

8 Sept 2026, 4:35 pmCompany Update

Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS

Allotment of ESOP / ESPS PDF

3 Sept 2026, 7:48 pmCompany Update

Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 - ESG Ratings

General PDF

2 Sept 2026, 8:20 pmCompany Update

Announcement under Regulation 30 (LODR)-Credit Rating

Credit Rating PDF

1 Sept 2026, 7:40 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

28 Aug 2026, 6:00 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

Date	Category	Subject	Filing
1 Oct 2026, 3:11 pm	Company Update Change in Directorate	Announcement under Regulation 30 (LODR)-Change in Directorate	PDF
18 Sept 2026, 5:35 pm	Company Update General	Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 - ESG Ratings

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	45.2%	48.8%	46.9%	42.9%	45.2%	50.8%	50.3%	44.5%
EBITDA margin %	17.5%	20.1%	19.8%	17.7%	18.5%	21%	19.8%	17.1%
EBIT margin %	16.2%	18.2%	18%	16.2%	17%	19.4%	18.1%	15.6%
PAT margin %	15.5%	14.3%	14.9%	13.2%	13.5%	15.6%	15.3%	13.3%
Working capital
Receivable days	—	27	18	25	38	40	43	35
Inventory days	—	134	96	95	84	103	84	78
Payable days	—	93	97	90	99	122	92	79
NWC days	—	69	17	30	22	22	34	34
Leverage
Current ratio	1.87	1.8	1.65	1.63	1.57	1.64	2.07	1.43
Debt to EBITDA	0.02	0.23	0.22	0.21	0.26	0.19	0.18	0.15
Debt to equity	0.01	0.11	0.11	0.1	0.13	0.1	0.1	0.08
Interest coverage	53.7	29.1	45.5	42.1	32.1	27.5	40.9	44
Asset turnover	1.73	1.47	1.46	1.64	1.41	1.3	1.3	1.35
Return ratios
Return on assets %	26.8%	21%	21.8%	21.7%	19%	20.2%	19.9%	18%
Return on capital employed %	47.9%	48.7%	46.1%	46%	44.1%	42.3%	40%	39.3%
Return on equity %	37.5%	34.4%	37%	37.5%	34.8%	39.2%	41.7%	43.1%

Calls	Strike	Puts
0	0	0	₹0.0	660

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Hindustan UnileverHINDUNILVRHINDUNILVR	₹4,31,460 Cr	₹4,31,460 Cr	₹66,374 Cr	₹15,305 Cr	23.4%	₹14,957 Cr	23.4%	22.7%	30.6%	-79
ITCITCITC	₹3,19,619 Cr	₹3,21,805 Cr	₹96,307 Cr	₹25,682 Cr	30.4%	₹19,839 Cr	23.4%	37.2%	29%	162
Nestlé IndiaNESTLEINDNESTLEIND	₹2,52,164 Cr	₹2,52,188 Cr	₹24,437 Cr	₹5,748 Cr	22.9%	₹3,811 Cr	15.1%	58.3%	76.3%	-9
Britannia IndustriesBRITANNIABRITANNIA	₹1,14,672 Cr	₹1,16,030 Cr	₹19,529 Cr	₹3,627 Cr	18.5%	₹2,604 Cr	13.3%	63.7%	53.5%	-9
MaricoMARICOMARICO	₹1,01,427 Cr	₹1,01,782 Cr	₹14,309 Cr	₹2,492 Cr	17.1%	₹1,888 Cr	13.3%	39.3%	43.1%	34
Dabur IndiaDABURDABUR	₹66,242 Cr	₹67,305 Cr	₹13,552 Cr	₹2,525 Cr	18.6%	₹1,972 Cr	14.2%	21.4%	17.1%	-14

46 deals · 31 Aug 2021 – 17 Jul 2023

Date	Client	Type	Venue	Side	Quantity	Price	Value
17 Jul 2023	THE RBOS PLC AS DEP OF FIRST ST GEM SUS FDA SF OF FIST INICVC	Block	NSE	Buy	3,12,075	₹539.45	₹16.83 Cr
17 Jul 2023	THE RBOS PLC AS DEP OF FIRST ST GE MT FDA SFD OF FIST IN ICVC	Block	NSE	Sell	3,12,075	₹539.45	₹16.83 Cr
17 Jul 2023	THE RBOS PLC AS DEP OF FIRST ST GEM LE FDA SFD OF FIST INICVC	Block	NSE	Buy	1,13,681	₹539.45	₹6.13 Cr
17 Jul 2023	FS INV ICVC - SI GLOBAL EMERGING MARKETS LEADERS SUSTAINABILITY FUND	Block	NSE	Sell	1,13,681	₹539.45	₹6.13 Cr
7 Dec 2022	FIRST SENTIER INVESTORS ICVC �� STEWART INVESTORS GLOBAL EMERGING MARKETS LEADERS FUND	Block	NSE	Buy	13,55,040	₹502.15	₹68.04 Cr
7 Dec 2022	FIRST SENTIER INVESTORS ICVC - STEWART INVESTORS ASIA PACIFIC AND JAPAN SUSTAINABILITY FUND	Block	NSE	Sell	6,32,728	₹502.15	₹31.77 Cr
7 Dec 2022	FIRST SENTIER INVESTORS ICVC �� STEWART INVESTORS ASIA PACIFIC SUSTAINABILITY FUND	Block	NSE	Sell	2,92,720	₹502.15	₹14.70 Cr
7 Dec 2022	QUAESTIO SOLUTIONS FUNDS	Block	NSE	Sell	1,99,295	₹502.15	₹10.01 Cr
7 Dec 2022	STEWART INVESTORS ASIA PACIFIC SUSTAINABILITY FUNDAS A SUB FUND OF FIRST SENTIER INVESTORS GUF PLC	Block	NSE	Sell	1,33,053	₹502.15	₹6.68 Cr
7 Dec 2022	MINE SUPERANNUATION FUND	Block	NSE	Sell	97,244	₹502.15	₹4.88 Cr

1–10 of 46

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	818	649	555	1,214	2,353	1,016	1,419	1,436	1,363	2,084
	-197	-92	17	-39	-1,223	428	-929	176	-621	-722
	-601	-574	-567	-1,147	-1,119	-1,290	-560	-1,542	-649	-1,279
Net cash flow	—	—	—	—	11	154	-70	70	93	83
Free cash flow	—	—	—	—	2,211	884	1,237	1,283	1,202	1,765
CFO / Operating profit %	77.8%	56%	48.7%	82.6%	147.9%	60.4%	78.4%	70.9%	63.7%	89.5%

Marico

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Futures3

Option chain28

Fund holders

Documents

Announcements

Events

Dividends40

Board meetings1

Bonus issues1

Announcements

Dividends40

Board meetings1

Bonus issues1

Ratio timeline

Futures3

Option chain28

Announcements

Quarterly record

Annual reports

Credit ratings

Investor Presentation and earnings call

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

India · revenue

3

28

40

1

1

40

1

1

3

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