MARICOFast Moving Consumer Goods

Marico Limited

Edible Oil · ISIN INE196A01026 · BSE 531642 · NSE EQ · FV ₹1
Last price
₹890
+1.32%today
What this company does

Marico Limited operates in Edible Oil, part of the Fast Moving Consumer Goods sector. It booked ₹3,897 cr of revenue in its latest quarter (Q2 FY27) and kept 14.1% of sales as profit. It is the largest of 9 Edible Oil companies we track, by market value.

In the report:
68out of 100
Equitytale Health Score
Solid

Healthier than 68% of companies in Fast Moving Consumer Goods, on all six measures of filed financials. Each measure is ranked against the 25–149 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
overbought
RSI (14)
75

At close. Not part of the score.

Profitability & returns93

How much profit it earns on the money it employs

Balance sheet61

How much it owes, and whether earnings cover the interest

Cash quality74

Whether reported profit actually arrives as cash

Growth & consistency71

Whether sales and profit have grown, and how steadily

Valuation13

What today's price implies, against our models or its peers

Governance & risk88

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Sales up 12% vs last year
✓ Profit up 31% vs last year
✓ Promoters hold 59%
✓ Strong 46% return on equity
✓ Turns profit into real cash
Watch-outs
! 2.0% of promoter stake pledged

What if I invest in MARICO?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹890▲ +1.32%
latest close · 2026-11-04
1-year return
+52.3%
52-wk low ₹45652-wk high ₹896
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio52.5High
LowAverageHigh
P/B ratio24.44High
Below bookModerateHigh
EV / EBITDA38.2High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity46.5%Strong
WeakFairStrong ▸15%
Return on capital46.6%Strong
WeakFairStrong
Net margin14.1%Decent
ThinDecentStrong
EBITDA margin19.6%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.21Comfortable
LowModerateHigh ▸1
Interest cover29.1×Strong
RiskyOkayStrong ▸5×
Current ratio1.22Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹1.16 L cr
Book value
₹36
EPS
₹4.24
latest quarter
Net debt
₹710 cr
owes more than its cash
Enterprise value
₹1.16 L cr
EBITDA
₹3,048 cr
annualised
EBIT
₹2,792 cr
annualised
Operating margin
17.9%
Return on assets
17.8%
Earnings yield
1.91%
P/S
7.42
Sales / share
₹119.9
Tax rate
17.2%
Face value
₹1
Shares
130.0 cr
Working capital
₹1,429 cr
Current assets
₹7,817 cr
Current liabilities
₹6,388 cr
Delivery %
60.9%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹190–₹298, midpoint ₹216

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹3,897 cr
Other Income₹53 cr
Total Income₹3,950 cr
Cost of Materials₹1,714 cr
Purchases of Stock-in-Trade₹504 cr
Inventory Change (±)₹-196 cr
Employee Benefit Expense₹259 cr
Finance Costs₹24 cr
Depreciation & Amortisation₹64 cr
Other Expenses₹907 cr
Total Expenses₹3,276 cr
Profit before Tax₹674 cr
Tax Expense₹116 cr
Net Profit₹558 cr
Net margin on total income14.1%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹2,022 cr51.2%
Employee benefit expense₹259 cr6.6%
Finance costs₹24 cr0.6%
Depreciation & amortisation₹64 cr1.6%
Other expenses₹907 cr23.0%
Tax expense₹116 cr2.9%
Profit for the period₹558 cr14.1%
Total income ₹3,950 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue3,333 cr3,957 cr3,897 cr
Total income3,393 cr4,005 cr3,950 cr
Expenses2,889 cr3,215 cr3,276 cr
Profit before tax504 cr790 cr674 cr
Tax96 cr138 cr116 cr
Net profit (owners' share)391 cr630 cr550 cr
Net margin (owners' share, on revenue)11.7%15.9%14.1%
EPS (₹)3.044.864.24
YoY (latest quarter): total income +11.9% · net profit +31.0%
Balance sheet & cash flow · as of Sep 2026
Low debt
Total assets
₹12,378 cr
Shareholder equity
₹4,735 cr
parent shareholders
Total debt
₹1,046 cr
Cash
₹336 cr
Cash flow · H1 FY27
Operating
₹692 cr
Investing
₹-878 cr
Financing
₹118 cr
Peer comparison
Edible Oil · by market value
CompanyPriceMarket capP/E
Marico Limitedthis company₹878₹1.14 L cr51.8
Patanjali Foods Limited₹375₹40,785 cr30.3
AWL Agri Business Limited₹164₹21,223 cr22.2
Gokul Agro Resources Limited₹217₹6,405 cr11.0
Sundrop Brands Limited₹631₹2,380 cr49.0
Gokul Refoils and Solvent Limited₹36₹352 cr14.6
Kriti Nutrients Limited₹66₹331 cr9.3
Halder Venture Limited₹284₹330 cr25.6
M K Proteins Limited₹4₹142 cr23.7
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.45%
trailing 12 months
Dividend / share (TTM)
₹4
Last dividend
₹4
ex 30 Jul 2026
ActionDetailEx-date
Dividend₹4 / share30 Jul 2026
Dividend₹7 / share1 Aug 2025
Dividend₹3.5 / share7 Feb 2025
Dividend₹6.5 / share6 Mar 2024
Dividend₹3 / share7 Nov 2023
Dividend₹4.5 / share8 Mar 2023
Who owns it · 2026-09-30
⚑ 2.0% pledged
Promoter
58.8%
FII / Foreign
22.3%
DII / Domestic
14.1%
Retail / others
4.5%
Promoter stake down 0.6% over the last 12 quarters.
Smart-money activity
Insider trades
SoldPreeti Gautam Shah · Promoter Group4.00 L · ₹20.0 cr15 Mar 24
BoughtMr. Kishore V. Mariwala · Promoters39,999 · ₹2.3 cr4 Aug 23
SoldPreeti Gautam Shah · Promoter Group2.00 L · ₹9.7 cr14 Mar 23
Bulk / block deals
short— · NSE5822 Oct 26
short— · NSE416 Oct 26
short— · NSE1,20015 Oct 26
Stake changes
SoldLife Insurance Corporation of India→ 3.00% · 2.58 cr11 Jun 25
SoldMitsubishi UFJ Financial Group (MUFG) alongwith PAC→ 4.27% · 2.83 cr13 Jun 24
BoughtLife Insurance Corporation of India→ 5.00% · 1.93 L5 Jan 21
Promoter pledges
PledgedTata Capital Financial Services Limited10.00 L · 0.00% held23 Dec 22
What shareholders were asked to approve
1 proposal passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 22 Sep 2025
See the official result
1
Appointment of Mr. Bhaskar Bhat (DIN: 00148778) as an Independent Director of the Company
Backed by 100% of shareholders other than promotersneeded 75%
42.30 cr votes for, 14.38 L against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 33 named members
owning 58.8% between them · as of 2026-09-30
Harsh C Mariwala with Rajen K Mariwala for Aquarius Family Trust11.07%
Harsh C Mariwala with Rajen K Mariwala for Valentine Family Trust11.07%
Harsh C Mariwala with Ravindra K Mariwala for Gemini Family Trust11.07%
Harsh C Mariwala with Ravindra K Mariwala for Taurus Family Trust11.07%
Rajvi H Mariwala2.18%
Harsh C Mariwala2.16%
Rishabh H Mariwala1.92%
Ravindra K Mariwala1.72%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.