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'Buy' Marico Shares Maintains Motilal Oswal On Sustained Growth Trajectory— Check Target Price

Marico Q2 Review: Given the sustained growth trajectory, Motilal Oswal believes the stock’s premium valuation is likely to be sustained.

<div class="paragraphs"><p>Marico aims to deliver a double-digit PAT CAGR over the next two years, and the brokerage projects 13% PAT CAGR over FY25–28E. (Photo source: Company website).</p></div>
Marico aims to deliver a double-digit PAT CAGR over the next two years, and the brokerage projects 13% PAT CAGR over FY25–28E. (Photo source: Company website).
Marico reported a consolidated revenue growth of 31% YoY (in line) in Q2 FY26. Domestic revenue growth was 35% YoY with volume growth of 7%. The GST transition and trade pipeline adjustments impacted revenue growth by ~2%. International growth was 19% YoY (+20% CC).
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