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Marico Limited (531642) Fair Value & Analysis

Consumer Goods · IN · Market cap ₹474B

ML Marico Limited 531642 · BSE
Price₹866.00
Fair Value₹200.14
Upside-76.9%
Quality74/100
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Healthy Growth
Solidly profitable · 15.4% net margin
Low debt
1.02% dividend yield
Wide moat 79/100
Evidence: High Range ₹121.59 – ₹271.80 Share as image

Fair value as of: Aug 18, 2026

From 26 valuation models · updated today

A solid business, but screening 77% overvalued on our models.

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What matters now

  • A high-quality business (quality 74/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (₹271.80). The favourable scenario is already priced in.
  • A fairly wide model range (₹121.59 to ₹271.80) leaves room in how you read the outcome.
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Analysis

Marico Limited (531642) currently trades at ₹866.00, while our model-based Fair Value estimate is ₹200.14, implying the stock looks roughly 76.9% overvalued today. The Quality Score stands at 74/100 (solid quality), in the Consumer Goods sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Marico Limited generated revenue of ₹72.3B at a net margin of 15.4%. Revenue grew 8.7% year over year. It earns a return on equity of 31.4%. The stock trades on a trailing P/E of 42.9 (as of Aug 18, 2026). Fundamentals as of Aug 18, 2026

Our scenario range runs from ₹121.59 (bear case) to ₹271.80 (bull case); at ₹866.00, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 3% below its 52-week high and 26% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Goods peers we cover trades at -55% fair-value upside, at -77%, 531642 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (₹20.64 to ₹281.47). Read the values as a conservative anchor, not as a price target.
Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹117.50 ₹179.67 ₹274.33 80
Residual Income ₹102.27 ₹155.76 ₹2,074 76
Rev-Margin DCF ₹128.49 ₹211.57 ₹308.14 74
All 26 models by family
DCF Models
FCF DCF ₹115.42 ₹185.80 ₹300.18 38
Owner Earnings ₹157.21 ₹253.59 ₹410.22 31
5Y Revenue Exit ₹128.49 ₹212.38 ₹320.69 39
5Y EBITDA Exit ₹136.54 ₹227.60 ₹334.78 41
5Y P/E Exit ₹153.10 ₹258.92 ₹371.36 38
10Y Revenue Exit ₹118.54 ₹195.65 ₹301.67 36
10Y EBITDA Exit ₹128.28 ₹206.54 ₹312.80 37
10Y P/E Exit ₹139.12 ₹228.92 ₹341.66 35
Earnings-Based
Graham-Dodd ₹85.86 ₹281.47 ₹376.24 54
Lynch FV ₹63.19 ₹90.27 ₹117.36 50
PEG = 1.0 ₹63.19 ₹90.27 ₹117.36 46
EPV ₹127.52 ₹149.62 ₹169.27 59
Dividend Discount
Gordon GGM ₹33.77 ₹73.73 ₹124.06 70
DDM Multi-Stage ₹33.77 ₹58.32 ₹76.84 61
Multiples
P/E Multiple ₹189.39 ₹252.52 ₹315.65 63
P/S Multiple ₹157.40 ₹209.87 ₹262.34 58
P/B Multiple ₹69.32 ₹92.43 ₹115.53 55
EV/EBIT ₹207.56 ₹275.99 ₹344.42 53
EV/EBITDA ₹163.99 ₹217.89 ₹271.80 54
EV/Revenue ₹140.65 ₹199.96 ₹259.27 43
Asset-Based
NCAV (Graham) ₹15.40 ₹20.64 ₹30.81 50
Growth DCF
Growth DCF ₹117.50 ₹179.67 ₹274.33 80
Rev-Margin DCF ₹128.49 ₹211.57 ₹308.14 74
Economic Profit
Residual Income ₹102.27 ₹155.76 ₹2,074 76
ROIC Compounder ₹134.87 ₹167.45 ₹203.11 72
Growth Earnings
Growth-Adj P/E ₹160.38 ₹229.12 ₹297.86 68

Widest divergence: Growth Earnings (₹229.12) versus Asset-Based (₹20.64). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹72.3B
Revenue growth (YoY) +8.7%
Net margin 15.4%
Return on equity 31.4%
P/E ratio 42.9 as of Aug 18, 2026
Operating margin 19.0%
More key figures
EPS (TTM) ₹8.60
Dividend yield 1.0%
EPS growth (YoY) +6.8%

Figures from reported company fundamentals · as of Aug 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 74/100

Of which business quality 71 · Market factors (momentum, volatility) 82

Profitability 93
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 54
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 69
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
52W Momentum 61
Distance to the 52-week high (market factor)
Net Issuance 81
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Marico Limited, together with its subsidiaries, manufactures and markets consumer products. The company offers coconut oil, hair oils, refined edible oils, anti-lice treatments, fabric care, health foods, hair waxes and gels, hair serums, shampoos, after showers, hair creams and conditioners, deodorants, hand sanitizers, body Lotion and gels, body oils, …

Full company description

Marico Limited, together with its subsidiaries, manufactures and markets consumer products. The company offers coconut oil, hair oils, refined edible oils, anti-lice treatments, fabric care, health foods, hair waxes and gels, hair serums, shampoos, after showers, hair creams and conditioners, deodorants, hand sanitizers, body Lotion and gels, body oils, baby care, and other skin care and male grooming products, as well as hygiene products. It markets its products under the Parachute, Parachute Advansed, Nihar, Nihar Naturals, Saffola, Hair & Care, Revive, Mediker, Livon, and Set-wet brand names in India; and under the Parachute, Parachute Advansed, Fiancée, Hair Code, Caivil, Hercules, Black Chic, Code 10, Ingwe, X-men, and Thuan Phat brand names internationally. The company's distribution network comprises regional offices, carrying and forwarding agents, redistribution centers, and distributors. Marico Limited was incorporated in 1988 and is headquartered in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Marico Limited reported revenue of ₹108B in FY2025 versus ₹80.5B in FY2021, a compound +7.7%/yr. Reported net income was ₹16.3B in FY2025, compounding +8.6%/yr from FY2021.

Growth Quality 86/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
₹108B
Latest YoY
+12.2%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.4%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.2%
Avg. growth/yr (11Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+7.9%
Revenue +7.7%/yr
FY21 ₹80.5B
FY22 ₹95.1B
FY23 ₹97.6B
FY24 ₹96.5B
FY25 ₹108B
Net income +8.6%/yr
FY21 ₹11.7B
FY22 ₹12.3B
FY23 ₹13.0B
FY24 ₹14.8B
FY25 ₹16.3B

531642 screens 77% overvalued. Compare with Godrej Consumer Products Limited →

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Cite: Fair Value Calculator (2026). "Marico Limited Fair Value". https://www.fairvalue-calculator.com/stock/531642

Peer Group

Consumer Goods · 9 stocks

How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Personal Products” was too small, so the broader sector is used.)

Quality Score 74 · Top 25%
Fair Value upside −77% · Bottom 25%
Return on equity (TTM) 31% · Top 25%
Return on assets 15% · Top 25%
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 19% · Top 25%
Revenue growth 9% · Below median
Dividend yield (TTM) 1.0% · Above median

Valuation Multiples vs Consumer Goods median · lower = cheaper

P/E (TTM) 42.9× · Pricier than 75% of peers
P/B 11.93× · Pricier than 75% of peers
P/S (TTM) 6.55× · Pricier than 75% of peers

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Personal Products stocks, each showing price versus our Fair Value estimate (as of Aug 18, 2026).

Stock Price Fair Value vs Fair Value
Godrej Consumer Products Limited 532424 ₹928.70 ₹329.76 -64%
Gillette India Limited 507815 ₹7,599 ₹1,674 -78%
Jyothy Labs Limited 532926 ₹199.85 ₹147.46 -26%
Pee Cee Cosma Sope Limited 524136 ₹389.75 ₹515.36 +32%
Ador Multiproducts Limited 523120 ₹74.86 ₹104.07 +39%
Hatsun Agro Product Limited 531531 ₹972.35 ₹362.14 -63%
Sundram Fasteners Limited 500403 ₹1,210 ₹240.89 -80%
EPL Limited 500135 ₹247.30 ₹111.65 -55%
V-Guard Industries Limited 532953 ₹343.45 ₹146.29 -57%
Finolex Industries Limited 500940 ₹161.30 ₹166.00 +3%

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Frequently asked questions

Is Marico Limited (531642) overvalued or undervalued?
As of Aug 18, 2026, our model estimates a fair value of ₹200.14 versus a price of ₹866.00, about −77% (overvalued).
What is the fair value of 531642?
Our model-based fair value for Marico Limited is ₹200.14 (as of Aug 18, 2026), built from audited fundamentals. The current price is ₹866.00.
What is the quality score of 531642?
Marico Limited has a Quality Score of 74/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Marico Limited (531642)?
Marico Limited reported trailing-twelve-month revenue of about ₹72.3B (latest available figure, as of Aug 18, 2026).
What is the net profit margin of 531642?
The net profit margin of Marico Limited is about 15.4%, meaning it keeps roughly 15.4% of revenue as net income. Based on the latest reported figures.
Does Marico Limited pay a dividend?
Marico Limited currently shows a dividend yield of about 1.02% relative to its recent price (as of Aug 18, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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