CLSA has maintained an ‘Underperform’ rating on Marico with a target price of ₹482/share, reflecting a potential downside of 27% from the current market price (CMP) of ₹660.00.
The brokerage notes that Marico’s full-year double-digit growth aspiration remains intact, with mid-teens revenue growth reported versus an expectation of 9%. However, operating profit growth is expected to remain modest at 4.8%, accompanied by year-on-year margin contraction.
While the company has demonstrated resilience in revenue growth, CLSA highlights concerns over operating profitability and margin pressures as key challenges.
Disclaimer: The above analysis is based on inputs provided and is for informational purposes only. It does not constitute financial advice. Readers are advised to consult their financial advisors before making any investment decisions.
