Marico Shares Hit 4% Upper Circuit To Record High On Strong Q4 Earnings: Should You Buy?

Shares of Marico jumped over 4% in early trade roday to hit upper circuit on Wednesday, May 6, a day after the leading fast-moving consumer goods (FMCG) company reported strong January-March quarter results for fiscal 2025-26 (Q4FY26). The FMCG stock hit an all-time high during the session reflecting strong investor interest after the consumer goods giant reported the highest volume growth in seven years during FY26. Shares last traded 2.66% higher at Rs 828.65 apiece on the NSE.

Marico share price has gained 6.275 in one week, 10.35% in one month, 9% on a year-to-date basis and 15% in the last one year. The company commands a market cap of Rs 1,07,590.58 crore. Shares of Marico opened 4.5% higher at Rs 826.20 apiece on the NSE from its previous close of Rs 807.20 and further rose 2% to hit a record high of Rs 843.15 apiece, so far.

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Marico Share Price Intraday

Marico Q4 Results

Mario Ltd posted a steady set of consolidated earnings for the March quarter, with profit growth supported by strong volume expansion across India and international markets, even as margins came in below expectations. The net profit stood at Rs 391 crore for Q4, up 14% year-on-year from Rs 343 crore. It was broadly in line with Street estimates of Rs 392 crore. For FY26, Marico reported volume-led growth despite margin pressure, benefiting from scale leverage and improving demand conditions. 

Consolidated revenue rose 22.1% year-on-year to Rs 3,333 crore, marginally exceeding analyst expectations of Rs 3,325 crore, reflecting sustained demand momentum across key portfolios. Operating performance, however, was softer than anticipated. EBITDA stood at Rs 521 crore, compared with estimates of Rs 533 crore, while EBITDA margin declined to 15.6% from 16.8% a year earlier, undershooting expectations of 16.1%.

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Higher operating costs and an uneven input cost environment weighed on margins during the quarter. Other income increased sharply to Rs 60 crore from Rs 47 crore a year earlier, aiding bottom -line growth. Marico's India business remained the primary growth driver, with revenue rising 21% year-on-year to Rs 2,505 crore. The company announced a final dividend of Rs 4 per share, taking shareholder payouts for the year higher.

Marico Q4FY26 (Cons, YoY)

• Net Profit up 14% at Rs 391 crore versus Rs 343 crore
• Revenue up 22.1% at Rs 3,333 crore versus Rs 2,730 crore
• EBITDA up 13.8% at Rs 521 crore versus Rs 458 crore
• EBITDA Margin at 15.6% versus 16.8%
• Other Income at Rs 60 crore versus Rs 47 crore

Brokerages Bullish on Marico On Strong Q4 Scores: Should You Buy?

Looking ahead, Marico gave a positive outlook on business and said it expects to sustain high single-digit volume growth in FY27, while targeting mid-teen constant currency growth in international markets. The company aims to deliver double-digit revenue growth to cross Rs 15,000 crore in topline next year and has outlined an aspiration to achieve high-teen EBITDA growth, subject to stable macroeconomic conditions. Marico reiterated its longer-term ambition of scaling towards a Rs 20,000 crore topline by 2030, anchored on volume expansion, premiumisation and international growth.

Global brokerage Jefferies maintained a 'buy' call on the stock and hiked target price to Rs 960 from Rs 900. It said that consistent compounder delivers yet again as the management sounded fairly confident in its outlook. Marico remains a top pick for Jefferies. Morgan Stanley maintains an 'overweight' stance on the stock with a target price of Rs 934. It believes the overall commodity inflation is minimal for Marico currently. Citi also maintained 'buy' and hiked its target price Rs 940 from Rs 900.

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