Marico (BOM:531642)

QUOTE AND NEWS
The Economic Times  Jun 21  Comment 
Marico is a low beta stock (0.48) and is trading well above its 50-day, 100-day and 200-day moving average of Rs 258.65, Rs 244.25 and Rs 226.49, respectively
The Economic Times  May 30  Comment 
In an exclusive interaction with ET NOW, S Subramanian, CEO, Marico Kaya Enterprises talks about the key drivers for the top line growth, revenue and the future expansion plans of the company. Excerpts:
The Economic Times  May 23  Comment 
Sell Marico with a target of Rs 230 and a stop loss of Rs 245.15
The Hindu Business Line  May 3  Comment 
By dropping the price of its flagship brand Parachute by 6 per cent at the beginning of the quarter, Marico is planning to address the drought-affected areas in States such as Maharashtra and Telanga...
The Hindu Business Line  May 3  Comment 
Manipal Health Enterprises Pvt Ltd (MHPEL) has appointed Ameer Aggarwal as its new Chief Financial Officer (CFO).  Aggarwal, who has had stints with Wipro, 3M, Marico and Ingersoll-Rand, will ...
The Economic Times  May 2  Comment 
The company reported a strong quarter but downgraded the stock to neutral on stretched valuations. The beat was driven by strong gross margin expansion as copra prices collapsed.
The Economic Times  May 2  Comment 
For the 4th quarter, India Inc has reported 2.6% YoY growth in sales on a 27.9% YoY rise in net profit. Here’s the list of top stocks that have seen rerating.
The Economic Times  May 2  Comment 
Buy Marico Ltd with a target of Rs 272 and a stop loss of Rs 254
The Times of India  Apr 29  Comment 
The Hindu Business Line  Apr 28  Comment 
ICICI Bank will declare its Q4 and FY16 results on Friday. Besides, GIC Housing Finance, InterGlobe Aviation, IDFC, Marico, Shriram Transport Finance, Oberoi Realty, Astra Microwave, Atul, Cholamand...




 

Marico is one of the leading Indian groups in consumer products and services in the beauty and wellness space. It has products and services in hair care, skin care and healthy foods. Marico's brands and their extensions occupy leadership positions with significant market shares in all categories. The company is present in the skin care services segment through Kaya skin care clinics (85 clinics) in India and the UAE. Marico's branded products are also present in Bangladesh, other South Asian Association for Regional Co-operation (SAARC) countries and the Middle East. Marico has been growing both organically and inorganically. It acquired ‘Nihar’, ‘Oil of Malabar’ and 'Manjal' herbal soap brand in India. It acquired a clutch of brands namely 'Camelia', 'Aromatic' and 'Magnolia' in Bangladesh and ‘Fiancee’ and ‘Haircode’ in Egypt. The company sold the Sundari business and Sil Brand.


Marico reported a strong 25% YoY growth in the consolidated topline for FY09 led by the 22% YoY growth in consumer product business, 43% YoY growth in international business and 57% YoY growth in Kaya. The operating margins were at 13% and the company reported a 12% YoY growth in net profits.


Marico’s business model is based on focused growth across all its brands and territories driven by continuously improving the value proposition to consumers, market expansion and widening its retail reach. It has identified new engines of growth and is also focusing on high margin products. It continues to improve its market share across product categories and is also doing well in the international business. The management’s uncommon thinking of transforming Marico from an oil company to a health and wellness firm is paying off well.


Consolidated picture
(Rs m) 4QFY08 4QFY09 Change FY08 FY09 Change
Net sales 4,659 5,612 20.50% 19,050 23,884 25.40%
Expenditure 4,203 4,879 16.10% 16,588 20,864 25.80%
Operating profit (EBDITA) 456 732 60.70% 2,463 3,020 22.60%
EBDITA margin (%) 9.80% 13.10% 12.90% 12.60%
Other income 52 80 53.70% 96 142 48.80%
Interest 87 113 29.90% 305 357 17.10%
Depreciation 79 104 31.90% 307 358 16.50%
Profit before tax 341 594 74.20% 1,946 2,447 25.80%
Extraordinary items 106 (150) 106 (150)
Tax 39 1 (97.70%) 360 409 13.80%
Profit after tax/(loss) 408 444 8.60% 1,692 1,887 11.50%
Minority interest 1 (1)
Net profit after tax/(loss) 408 444 8.60% 1,691 1,888 11.70%
Net profit margin (%) 8.80% 7.90% 8.90% 7.90%
No. of shares (m) 609 609 609 609
Diluted earnings per share (Rs)* 3.1
Price to earnings ratio (x)* 21.9
* 12 month trailing earnings



Segment Revenue
Rs m 4QFY08 4QFY09 Change FY08 FY09 Change
FMCG 4,337 5,163 19.10% 17,938 22,201 23.80%
% of total revenue 93.10% 92.00% 94.20% 93.00%
Others 322 448 39.20% 1,113 1,683 51.20%
% of total revenue 6.90% 8.00% 5.80% 7.00%
Total 4,659 5,612 20.50% 19,050 23,884 25.40%
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