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 1,109,470 - -
Change - -4.73% 3.67% 31.24% 13.25% 16.08% - -
Enterprise Value (EV) 1 641,862 613,033 636,299 827,972 936,922 1,084,199 1,080,227 1,072,024
Change - -4.49% 3.8% 30.12% 13.16% 15.72% -0.37% -0.76%
P/E 53.1x 47.7x 43.5x 51.9x 54.2x 51x 44.3x 39.1x
PBR 19.4x 16.3x 16.8x 21.3x 22.6x 22.2x 19.7x 17.3x
PEG - 8.08x 3.2x 5.25x 6.61x 2.2x 3x 2.9x
Capitalization / Revenue 6.85x 6.35x 6.66x 7.79x 7.02x 7.25x 6.55x 5.9x
EV / Revenue 6.75x 6.28x 6.59x 7.64x 6.88x 7.08x 6.38x 5.7x
EV / EBITDA 38.2x 33.9x 31.4x 38.7x 40.2x 38x 32.8x 28.8x
EV / EBIT 41.6x 37x 34.1x 42.2x 44.1x 41.4x 35.9x 31.1x
EV / FCF 72.6x 49.6x 49.6x 68.9x 53.1x 52.3x 44.6x 38.7x
FCF Yield 1.38% 2.02% 2.02% 1.45% 1.88% 1.91% 2.24% 2.58%
Dividend per Share 2 9.25 - 9.5 10.5 4 12.17 13.61 15.02
Rate of return 1.84% - 1.91% 1.61% 0.54% 1.42% 1.59% 1.76%
EPS 2 9.49 10.05 11.43 12.56 13.59 16.76 19.27 21.83
Distribution rate 97.5% - 83.1% 83.6% 29.4% 72.6% 70.6% 68.8%
Net sales 1 95,120 97,640 96,530 108,310 136,110 153,129 169,378 188,168
EBITDA 1 16,810 18,100 20,260 21,390 23,280 28,536 32,890 37,251
EBIT 1 15,420 16,550 18,680 19,610 21,260 26,158 30,125 34,498
Net income 1 12,250 13,020 14,810 16,290 17,620 21,893 25,038 28,104
Net Debt 1 -9,250 -7,260 -6,740 -15,980 -18,840 -25,272 -29,243 -37,446
Reference price 2 503.65 479.70 496.90 651.45 736.25 854.50 854.50 854.50
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 5/5/23 5/6/24 5/2/25 5/5/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.72x2.88x14.25x3.89% 256B
19.78x2.49x14.82x3.31% 79.23B
18.37x1.86x10.56x3.46% 50.39B
16.47x0.54x9.68x2.59% 38.49B
21.68x3.28x13.26x3.23% 35.97B
12.7x2.01x9.86x6.03% 31.59B
69.52x10.62x44.17x1.1% 30.25B
34.99x2.96x17.52x1.02% 30.01B
Average 26.78x 3.33x 16.77x 3.08% 69.03B
Weighted average by Cap. 23.13x 2.97x 15.18x 3.45%

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