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 1,101,745 - -
Change - -4.73% 3.67% 31.24% 13.25% 15.27% - -
Enterprise Value (EV) 1 641,862 613,033 636,299 827,972 936,922 1,077,114 1,070,238 1,063,992
Change - -4.49% 3.8% 30.12% 13.16% 14.96% -0.64% -0.58%
P/E 53.1x 47.7x 43.5x 51.9x 54.2x 50.4x 43.9x 38.9x
PBR 19.4x 16.3x 16.8x 21.3x 22.6x 22x 19.2x 17.1x
PEG - 8.08x 3.2x 5.25x 6.61x 2.1x 3x 3x
Capitalization / Revenue 6.85x 6.35x 6.66x 7.79x 7.02x 7.17x 6.46x 5.84x
EV / Revenue 6.75x 6.28x 6.59x 7.64x 6.88x 7.01x 6.27x 5.64x
EV / EBITDA 38.2x 33.9x 31.4x 38.7x 40.2x 37.7x 32.5x 28.6x
EV / EBIT 41.6x 37x 34.1x 42.2x 44.1x 41.2x 35.5x 30.8x
EV / FCF 72.6x 49.6x 49.6x 68.9x 53.1x 52.4x 43.9x 38.6x
FCF Yield 1.38% 2.02% 2.02% 1.45% 1.88% 1.91% 2.28% 2.59%
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% 1.43% 1.62% 1.8%
EPS 2 9.49 10.05 11.43 12.56 13.59 16.84 19.34 21.83
Distribution rate 97.5% - 83.1% 83.6% 29.4% 72.1% 71.2% 70.1%
Net sales 1 95,120 97,640 96,530 108,310 136,110 153,664 170,661 188,764
EBITDA 1 16,810 18,100 20,260 21,390 23,280 28,593 32,964 37,214
EBIT 1 15,420 16,550 18,680 19,610 21,260 26,116 30,135 34,531
Net income 1 12,250 13,020 14,810 16,290 17,620 21,947 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 2 503.65 479.70 496.90 651.45 736.25 848.55 848.55 848.55
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 05/05/22 05/05/23 06/05/24 02/05/25 05/05/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.57x2.84x14.15x3.96% 251B
19.97x2.5x14.93x3.28% 79.97B
17.4x1.81x10.2x3.59% 48.77B
15.27x0.57x10.17x2.53% 39.74B
22.21x3.35x13.58x3.15% 36.86B
38.32x3.28x19.06x0.94% 33.1B
67.87x10.41x43.17x1.12% 29.46B
-105.67x1.89x9.37x6.45% 29.43B
11.66x0.38x8.65x2.52% 21.97B
Average 11.96x 3.00x 15.92x 3.06% 63.33B
Weighted average by Cap. 16.57x 2.85x 14.93x 3.43%

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