Sharekhan is bullish on Marico has recommended buy rating on the stock with a target price of Rs 425 in its research report dated May 06, 2019.
Sharekhan's research report on Marico
In Q4FY2019, Marico’s consolidated revenue and PAT grew by ~9% and 18%, respectively; Domestic business volume growth stood at 8% (as against 5% volume growth in Q3FY2019). The declining raw material prices aided Marico gross margin expansion of 239BPS, while OPM improved by just 54BPS due to higher ad-spends. The management is confident of achieving 8-10% volume growth in the near to medium term in stable macro environment.
We retain Buy with an unchanged PT of Rs425. The declining copra prices would drive the margins and provides better earning visibility.
For all recommendations report, click here
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