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Marico share price jumps over 8% after Q4 results: Should you buy, sell or hold?
Marico share price: On the BSE, Marico shares rose as much as 8.8% to ₹577.80 apiece.
Marico share price: The share price of Marico rose over 8% today (May 7) as brokerages remained bullish on the stocks following the company's Q4 results. On the BSE, Marico shares rose as much as 8.8% to ₹577.80 apiece.
Marico Q4 results
Marico reported a consolidated net profit of ₹320 crore in the fourth quarter of FY24- marking a growth of 4.9% from the year-ago period. Revenue from operations in Q4FY24 rose 1.69% YoY to ₹2,278 crore and EBITDA during the quarter also jumped 12.5% to ₹442 crore. EBITDA margin expanded by 190 basis points to 19.4%.
What Nuvama Institutional Equities said on Marico
Nuvama Institutional Equities said that Marico’s Q4FY24 revenue and EBITDA were in line with its estimates.
“We like Marico’s focus on improving volumes over long term and market share gains, a strategy that management has adhered to for the past few years. Even as the company has had an eye on market share, it compromised on margins," the brokerage said. It also revised up FY26E earnings per share (EPS) estimates by 3.4% to build in the improving margin profile and increased the target valuation from 38x PE to 40x.
The brokerage upgraded Marico to ‘Buy’ from ‘Hold’ and raised Marico share price target to ₹640 from ₹574 earlier.
What Citi said on Marico stock?
Foreign brokerage firm Citi put a ‘Buy’ call on Marico shares and raised the target price to ₹610 per share.
