{"id":7362,"date":"2015-05-09T17:09:35","date_gmt":"2015-05-09T11:39:35","guid":{"rendered":"https:\/\/blog.fundsindia.com\/blog\/?p=7362"},"modified":"2015-05-27T12:27:21","modified_gmt":"2015-05-27T06:57:21","slug":"marico-ltd","status":"publish","type":"post","link":"https:\/\/fundsindia.com\/blog\/equities\/marico-ltd\/7362","title":{"rendered":"Marico Ltd."},"content":{"rendered":"<p style=\"text-align: justify;\">Founded in 1987, Marico Ltd is a leading Indian Group in consumer products\u00a0space. The company markets products in hair care, health foods and male\u00a0grooming segments. Marico\u2019s Indian business portfolio includes brands like\u00a0parachute advansed, hair &amp; care, nihar, mediker, saffola, revive, manjal, setwet,\u00a0zatak and livon, while the global portfolio offers localized brands like parachute,\u00a0hair code, fiancee, caivil, hercules, blackchic, code 10, ingwe, x-men, l&#8217;ovite and\u00a0thuan phat. The company derives ~78% revenue from domestic market, while,\u00a0the rest ~22% revenue comes from global operations. The company has presence\u00a0in Egypt, South Africa, Middle East, Malaysia, Vietnam and Bangladesh, apart\u00a0from India.<\/p>\n<div class=\"blog-highlight\" style=\"clear: both; background: #2baae2; border: none; width: 60%; text-align: center; box-shadow: 0 5px 5px rgba(0, 0, 0, 0.5);\"><a style=\"text-decoration: none;\" href=\"\"http:\/\/www.fundsindia.com\/content\/jsp\/LP\/equity\/equities1.do?ref=blog-button\" target=\"_blank\"> <span style=\"color: #fff; font-weight: bold;\">Open<\/span> <span style=\"color: #fff; font-weight: bold; text-decoration: none;\"> a FREE Equity Account Now! <\/span><\/a><\/div>\n<p><strong>Valuation and view<\/strong><\/p>\n<p style=\"text-align: justify;\">Marico\u2019s sharpened focus on growth drivers like food\u00a0categories (oats) and youth brands (deodorants, hair gels, hair\u00a0creams) is believed to yield fruitful result. The company\u2019s\u00a0management\u2019s continuous focus towards deriving synergies\u00a0from the unification of domestic and international business\u00a0also makes us positive for an improved performance in the\u00a0upcoming years. Further, we believe that cross pollination of\u00a0different products will drive innovations and brands, especially\u00a0in the youth portfolio. Demerger of low margin Kaya business\u00a0makes it a pure play consumer company and thus the future\u00a0prospects seem brighter for the company.<\/p>\n<p style=\"text-align: justify;\">At a current CMP of Rs 369.9, Marico is attractively placed at\u00a0EV\/EBIDTA of ~22.5x FY16E, 35.2x FY16E P\/E and 10.3 x FY15E\u00a0P\/B. Considering the above aspects, we rate the stock as \u2018BUY\u2019\u00a0with a target price of Rs 454, implying potential upside of\u00a0~22.7% for the coming 12 months.<\/p>\n<p><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2015\/05\/Research-Report-Marico-Ltd.pdf\">Research Report Marico Ltd<\/a><\/p>\n<p><i>Investments in equity shares, debentures, etc., are not obligations of, or guaranteed by Wealth India Financial Services Pvt. Ltd., and are subject to investment risks. <a href=\"http:\/\/pages.fundsindia.com\/pages\/disclaimer-equities\/\">Click here<\/a> to read our full disclaimer.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Founded in 1987, Marico Ltd is a leading Indian Group in consumer products\u00a0space. The company markets products in hair care, health foods and male\u00a0grooming segments. Marico\u2019s Indian business portfolio includes brands like\u00a0parachute advansed, hair &amp; care, nihar, mediker, saffola, revive, manjal, setwet,\u00a0zatak and livon, while the global portfolio offers localized brands like parachute,\u00a0hair code, fiancee, [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Marico Ltd.<\/title>\n<meta name=\"description\" content=\"Find the latest research report on Marico Ltd. 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