Marico Limited (MARICO) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Marico Limited stock ₹494, price ₹888, that is 44.4% below the price, quality 74 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range ₹438.41 – ₹890.00 · fair‑value band ₹314.26 – ₹646.88 · the ₹887.75 price screens above the ₹493.84 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Marico Limited, together with its subsidiaries, manufactures and sells branded consumer products in India, Bangladesh, Vietnam, and internationally.
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It offers coconut oils, refined edible oils, hair oils, anti-lice treatments, fabric care, functional and other processed food, hair creams and gels, hair serums, shampoos, shower gels, shower gels, hair relaxers and straighteners, deodorants, female personal care, baby care, skin care, male grooming and hair styling, packaged food, health care, and hygiene products, as well as conditioners.
The company markets its products under the Parachute, Saffola, Saffola FITTIFY, Hair & Care, Parachute Advansed, Nihar Naturals, Mediker, Pure Sense, Coco Soul, Revive, Set Wet, Livon, Just Herbs, True Elements, Beardo, and Plix brand names in India; and under the Parachute, Parachute Advansed, HairCode, Fiancée, Purité de Prôvence, Ôliv, Lashe', Caivil, Hercules, Black Chic, Code 10, Ingwe, X-Men, Studio X, Thuan Phat and Isoplus brand names internationally.
It sells its products through distribution network, including regional offices, carrying and forwarding agents, redistribution centers, and distributors. Marico Limited was incorporated in 1988 and is headquartered in Mumbai, India.
Stock analysis
Marico Limited (MARICO) currently trades at ₹887.75, while our model-based Fair Value estimate is ₹493.84, 44% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹259.01 per share, and 0 of the 26 models we run sit above the ₹887.75 price.
Bear case: the Dividend Discount group reads lowest at ₹95.70, and 26 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: ₹314.26 (bear) to ₹646.88 (bull), the price of ₹887.75 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 74/100 (solid quality), in the Consumer Defensive sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Marico Limited reported revenue of ₹136B in FY2026 versus ₹94.5B in FY2022, a compound +9.5%/yr. Reported net income was ₹17.6B in FY2026, compounding +9.5%/yr from FY2022.
Key figures
Market cap ₹1.1T (≈ $12.2B) Large · P/E ratio 57.1 · P/S ratio 7.77 · EPS (TTM) ₹15.56 · Dividend yield 0.5% · Net margin 13.6% · Return on equity 44.9% · Return on assets (EBIT) 24.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 77 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 25% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −23% fair-value upside, at −44%, MARICO screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (₹8.65 to ₹409.61). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear₹314.26Fair Value ₹493.84Bull₹646.88
Price ₹887.75 · Downside -44.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹6.97 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.94/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+26.8%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+12.0%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+11.2%
Start year 2021 (pandemic). Over 10 years: +8.5% a year
Revenue growth 21 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+13.2%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+9.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.5%
Dividend (yield on the price)0.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.8.5% vs 9.4%, steady
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.18% → 16%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+34.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+10.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +28.7% a year for the price and +5.9% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Household & Personal Products · 234 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score74 · Top 25%
Fair Value upside−44.4% · Bottom 25%
Profitability
Return on equity (12 months)44.9% · Top 25%
Return on assets17.5% · Top 25%
Net margin (12 months)13.6% · Top 25%
Operating margin (12 months)17.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)13.4% · Above median
Dividend yield (12 months)0.5% · Bottom 25%
Valuation Multiplesvs Household & Personal Products median · lower = cheaper
P/E (12 months)57.1× · Priciest 25%
P/B27.28× · Priciest 25%
P/S (12 months)7.77× · Priciest 25%
Price / free cash flow65.6× · Priciest 25%
EV/EBITDA44.5× · Priciest 25%
PEG1.02× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 31
FUTURE (revenue growth)67· sector 22
PAST (return on equity)100· sector 29
HEALTH (low debt)100· sector 98
DIVIDEND (yield)9· sector 53
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Marico Limited Fair Value". https://www.fairvalue-calculator.com/stock/MARICO
Frequently asked questions
Is Marico Limited (MARICO) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of ₹493.84 versus a price of ₹887.75, about 44% lower (overvalued).
What is the fair value of MARICO?
Our model-based fair value for Marico Limited is ₹493.84 (as of Nov 4, 2026), built from audited fundamentals. The current price: ₹887.75.
What is the quality score of MARICO?
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 price target for Marico Limited (MARICO)?
Our model-based price target is the fair value of ₹493.84 (as of Nov 4, 2026) from 26 valuation models. Cautious scenario ₹314.26, optimistic scenario ₹646.88. It is a calculation from audited fundamentals, not an analyst target.
What is the Marico Limited stock forecast for 2026?
Our models put fair value at ₹493.84, about 44% lower versus a price of ₹887.75 (overvalued). Cautious scenario ₹314.26, optimistic scenario ₹646.88. The calculation is refreshed regularly with new filings.
What is the revenue of Marico Limited (MARICO)?
Marico Limited reported trailing-twelve-month revenue of about ₹148B (latest available figure, as of Nov 4, 2026).
Does Marico Limited pay a dividend?
Marico Limited currently shows a dividend yield of 0.45% relative to its recent price (as of Nov 4, 2026).
What growth is priced into Marico Limited (MARICO)?
For today's price to be fair in a discounted-cash-flow model, Marico Limited would have to grow free cash flow by +34.0 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.2 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of MARICO use?
Our models discount Marico Limited at 10.4 %: a base by market capitalisation (large), damped by beta 0.15, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Marico Limited that is +34.0 % per year a year over ten years, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has Marico Limited (MARICO) delivered so far?
Over the past 5 years revenue at Marico Limited grew +11.2 % a year. The price currently implies +34.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Marico Limited (MARICO) growing?
The median revenue growth in the sector is +3.6 % a year. That is the yardstick for the growth priced into Marico Limited (+34.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Marico Limited (MARICO)?
The free-cash-flow yield on the price is 1.53 %: that much free cash flow Marico Limited produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Marico Limited (MARICO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Marico Limited it is ₹493.84 per share (as of Nov 4, 2026), against a price of ₹887.75. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Marico Limited stock overvalued or undervalued in 2026?
As of Nov 4, 2026, MARICO trades above its calculated fair value: price ₹887.75, fair value ₹493.84, a gap of about −44% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MARICO?
No. The price is what the market pays today (₹887.75); the fair value is what the company's own numbers justify (₹493.84). For Marico Limited the two are ₹393.91 per share apart. That gap is exactly why we show both numbers side by side.
How much is Marico Limited worth?
The market values Marico Limited at about ₹1.1T (market capitalisation, as of Nov 4, 2026). Per share that is ₹887.75; our models calculate a fair value of ₹493.84 per share.
What do the bullish and bearish scenarios say about MARICO?
Our models span a range for Marico Limited: cautious scenario ₹314.26, base ₹493.84, optimistic ₹646.88 per share (as of Nov 4, 2026, price ₹887.75). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MARICO?
Marico Limited trades at a price-to-earnings ratio of 57.1 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹493.84 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2017 to 2026), reported earnings, FY2026 ex one-offs: 47.7. Other multiples: PEG 1.0, P/B 27.3, P/S 7.8, EV/EBITDA 44.5.
What is the PEG ratio of MARICO?
The PEG ratio of Marico Limited is 1.02 (P/E divided by earnings growth, as of Nov 4, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Marico Limited (MARICO)?
Balance-sheet figures for Marico Limited (as of Nov 4, 2026): return on equity 44.9%. They feed the Quality Score of 74/100, which measures business quality independently of the share price.
How far is MARICO from its 52-week high?
Marico Limited trades at ₹887.75, at its 52-week high of ₹890.00 and 25% above the low of ₹710.65 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of ₹493.84 is for.
Which stocks are comparable to Marico Limited?
From the same area (Consumer Defensive) we also value Colgate-Palmolive Company, Hindustan Unilever Limited, The Estée Lauder Companies Inc, Kimberly-Clark Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Marico Limited stock attractive at the current price?
The data as of Nov 4, 2026: price ₹887.75, calculated fair value ₹493.84 (−44%), Quality Score 74/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MARICO calculated?
We run Marico Limited through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹493.84, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.6% above its aggregate fair value. Marico Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Marico Limited (MARICO)?
The closing price on Nov 5, 2026 was ₹887.75. Our model-based fair value is ₹493.84, about 44% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Marico Limited right now?
The price sits above even our optimistic bull case (₹646.88). The favourable scenario is already priced in. Solid but not exceptional quality (74/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (₹314.26 to ₹646.88) leaves room in how you read the outcome.
Where does the earnings growth of Marico Limited (MARICO) come from?
Earnings per share at Marico Limited grew +9.8 % a year from 2015 to 2026. Broken into its drivers: revenue per share +7.5 %, EBIT margin +0.6 %, tax rate +1.2 %, residual (interest, one-offs) +0.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Marico Limited
How large is the market capitalisation of Marico Limited (MARICO)?
The market capitalisation of Marico Limited is ₹1.1T (≈ $12.2B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Marico Limited (MARICO)?
The price-to-sales ratio of Marico Limited is 7.77 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Marico Limited (MARICO)?
Earnings per share at Marico Limited are ₹15.56 (price ÷ EPS = P/E 57.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Marico Limited (MARICO)?
The dividend yield of Marico Limited is 0.5% (payout 25.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Marico Limited (MARICO)?
The net margin of Marico Limited is 13.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Marico Limited (MARICO)?
The return on equity (ROE) of Marico Limited is 44.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Marico Limited (MARICO)?
On an EBIT basis the return on assets of Marico Limited is 24.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Marico Limited (MARICO)?
The operating margin of Marico Limited is 17.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Marico Limited (MARICO)?
Revenue at Marico Limited is growing +13.4% versus a year earlier (3y avg +12.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Marico Limited (MARICO)?
Earnings per share at Marico Limited are growing +30.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Marico Limited (MARICO) carry?
The net debt of Marico Limited is ₹640M (fiscal year 2026, ≈ 0.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 4, 2026