Marico hits record high two days running on strong Q1 update; JM Financial lifts target to Rs 985
Marico shares touched a record Rs 874, up 2% on BSE, taking market cap to Rs 1.09 lakh crore. A robust Q1 business update — double-digit domestic volume growth, resilient Parachute and value-added hair oils, softening copra prices and mid-teens international CC growth — drove the rally. JM Financial reiterated BUY, raising its target to Rs 985 from Rs 930.
What happened
Marico shares hit record high on strong Q1 business update: double-digit domestic volume growth, robust Parachute and value-added hair oils performance,
Key facts
- record high Rs 874
- up 2% BSE
- market cap Rs 1.09 lakh crore
- 52-week low Rs 690.40
- gained 39% in two years
- 58% in three years
- TP raised to Rs 985 from Rs 930
- sales growth 22% YoY
- EBITDA growth 19% YoY
- revenue growth low-twenties %
- international mid-teens CC growth
Why this matters
Strong Parachute and value-added hair oil momentum with expanding international CC growth reinforces the case for bolt-on acquisitions in adjacent personal-care and overseas markets.
What to watch
- Copra and edible-oil input price trends
- Actual Q1 volume growth vs the double-digit guidance
- Gross and EBITDA margin prints vs consensus
- Rural demand recovery signals across FMCG channel checks
- International (Bangladesh, MENA) constant-currency momentum
- FII/DII flow and index-weight rebalancing activity
- Marico to publish full Q1 results detailing margins, ad-spend and segment mix
- Peer FMCG names (Dabur, Emami, HUL) may see sympathetic re-rating on rural recovery read-through
- Additional brokerage target revisions following the JM Financial upgrade
- Management commentary on international CC growth durability and Foods/premiumization scale-up