Buy Marico, target price Rs 555: Religare Broking

Religare Broking has buy call on Marico with a target price of Rs 555. The current market price of Marico Ltd. is Rs 535.6. Time period given by analyst is Intra Day when Marico Ltd. price can reach defined target.

Marico Ltd., incorporated in the year 1988, is a Large Cap company (having a market cap of Rs 69274.01 Crore) operating in FMCG sector.

Marico Ltd. key Products/Revenue Segments include Edible Oil, Others, Personal Care, Export Incentives, Scrap for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 2185.00 Crore, down -10.05 % from last quarter Total Income of Rs 2429.00 Crore and up 7.06 % from last year same quarter Total Income of Rs 2041.00 Crore. Company reported net profit after tax of Rs 257.00 Crore in latest quarter.

Investment Rationale
Ending 2-month long consolidation phase, in line with noticeable buying in FMCG pack.

Promoter/FII Holdings
Promoters held 59.49 per cent stake in the company as of 31-Mar-2022, while FIIs owned 25.11 per cent, DIIs 8.76 per cent.