Buy Marico, target price Rs 490: Motilal Oswal

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Buy Marico, target price Rs 490:  Motilal Oswal


Motilal Oswal has buy call on Ltd. with a target price of Rs 490. The current market price of Marico Ltd. is Rs 418.75.

Marico Ltd., incorporated in the year 1988, is a Large Cap company (having a market cap of Rs 53852.61 Crore) operating in FMCG sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated sales of Rs 2122.00 Crore, up 6.69 % from last quarter Sales of Rs 1989.00 Crore and up 16.34 % from last year same quarter Sales of Rs 1824.00 Crore Company reported net profit after tax of Rs 312.00 Crore in latest quarter.

Investment Rationale
While the jury is still out on the likely success of new product development, which would elevate MRCO’s medium-to-longer term earnings trajectory and valuation multiples, the stock at 42x/36.2x FY22E/FY23E EPS appears to still provide healthy upside over next year, with superior outlook than most peers and a far less volatile international business

Promoter/FII Holdings
Promoters held 59.6 per cent stake in the company as of Dec 30, 2020, while FIIs held 24.3 per cent, DIIs 10.2 per cent and public and others 6 per cent.





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