Marico’s stock dropped 3% after CLSA reiterated its ‘Underperform’ rating, with a target price of ₹482 per share.
Despite the company’s strong revenue growth, reporting a mid-teens rise versus the expected 9%, CLSA raised concerns over its operating profitability. The brokerage predicts modest operating profit growth of just 4.8%, coupled with margin contraction year-on-year. Marico’s ambitious double-digit growth target for the full year remains intact, but operating profitability and margin pressures continue to challenge the company’s performance.
Marico shares opened at ₹667.00, reaching a high of ₹675.05 and a low of ₹633.15 during the trading session. The stock’s 52-week high stands at ₹719.85, while the 52-week low is ₹486.30.
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