Company Valuation: Marico Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 651,112 620,293 643,039 843,952 955,762 1,060,456 - -
Change - -4.73% 3.67% 31.24% 13.25% 10.95% - -
Enterprise Value (EV) 1 641,862 613,033 636,299 827,972 936,922 1,035,825 1,028,949 1,022,703
Change - -4.49% 3.8% 30.12% 13.16% 10.56% -0.66% -0.61%
P/E 53.1x 47.7x 43.5x 51.9x 54.2x 48.5x 42.2x 37.4x
PBR 19.4x 16.3x 16.8x 21.3x 22.6x 21.2x 18.5x 16.5x
PEG - 8.08x 3.2x 5.25x 6.61x 2x 2.8x 2.9x
Capitalization / Revenue 6.85x 6.35x 6.66x 7.79x 7.02x 6.99x 6.23x 5.64x
EV / Revenue 6.75x 6.28x 6.59x 7.64x 6.88x 6.83x 6.04x 5.44x
EV / EBITDA 38.2x 33.9x 31.4x 38.7x 40.2x 36.6x 31.2x 27.5x
EV / EBIT 41.6x 37x 34.1x 42.2x 44.1x 39.7x 34.1x 29.6x
EV / FCF 72.6x 49.6x 49.6x 68.9x 53.1x 50.4x 42.2x 37.1x
FCF Yield 1.38% 2.02% 2.02% 1.45% 1.88% 1.98% 2.37% 2.7%
Dividend per Share 2 9.25 - 9.5 10.5 4 12.14 13.78 15.31
Rate of return 1.84% - 1.91% 1.61% 0.54% 1.49% 1.69% 1.87%
EPS 2 9.49 10.05 11.43 12.56 13.59 16.84 19.33 21.82
Distribution rate 97.5% - 83.1% 83.6% 29.4% 72.1% 71.3% 70.1%
Net sales 1 95,120 97,640 96,530 108,310 136,110 151,640 170,318 188,003
EBITDA 1 16,810 18,100 20,260 21,390 23,280 28,333 32,964 37,214
EBIT 1 15,420 16,550 18,680 19,610 21,260 26,090 30,135 34,531
Net income 1 12,250 13,020 14,810 16,290 17,620 21,931 25,171 28,304
Net Debt 1 -9,250 -7,260 -6,740 -15,980 -18,840 -24,631 -31,507 -37,753
Reference price 2 503.65 479.70 496.90 651.45 736.25 816.75 816.75 816.75
Nbr of stocks (in thousands) 1,292,787 1,293,084 1,294,102 1,295,498 1,298,149 1,298,385 - -
Announcement Date 5/5/22 A 5/5/23 A 5/6/24 A 5/2/25 A 5/5/26 A - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
48.24x6.79x36.39x1.5% 10.99B
20.45x2.79x13.93x4.04% 244B
19.85x2.49x14.87x3.3% 79.59B
16.2x1.7x9.61x3.86% 45.22B
15.74x0.56x10.04x2.5% 40.97B
20.68x3.14x12.77x3.38% 34.32B
33.5x2.92x16.93x1.1% 30.08B
-8.72x1.88x9.37x6.49% 29.33B
64.21x9.85x40.85x1.19% 27.86B
Average 25.57x 3.57x 18.31x 3.04% 60.25B
Weighted average by Cap. 21.62x 2.91x 15.10x 3.53%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

  1. Stock Market
  2. Stocks
  3. MARICO Stock
  4. Valuation Marico Limited
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