Marico shares rise 8 per cent on strong September quarter results
The FMCG company reported a 31 per cent year-on-year increase in consolidated net profit for the second quarter.
Marico share price surged over 8 per cent on Tuesday, November 3, after the FMCG company reported strong performance for the September quarter, according to Mint.
The company reported a consolidated net profit of ₹550 crore for Q2FY27, representing a 31 per cent year-on-year increase. Revenue from operations rose 12 per cent to ₹3,897 crore, up from ₹3,450 crore in Q2FY26.
EBITDA rose 27 per cent to ₹709 crore, while the EBITDA margin expanded from 16.2 per cent to 18.2 per cent. The India business delivered 10 per cent underlying volume growth, while the international business recorded 13 per cent constant currency growth.
Marico expects to deliver revenue growth in the teens in FY27 and aims to cross the ₹15,000 crore revenue mark. The company has also raised its EBITDA growth expectation to the mid-twenties.
Motilal Oswal Financial Services (MOSL) reiterated a Buy rating with a target price of ₹975. Nirmal Bang upgraded the stock to Buy from Hold and raised its target price to ₹970 from ₹895.
Nirmal Bang noted that while revenue was marginally below estimates, profit after tax was ahead of expectations. The brokerage flagged potential risks from vegetable oil inflation and deficient rainfall.