Shares of Marico received target price upgrades from major global brokerages after the FMCG giant reported a Q1 performance, driven by healthy domestic volume growth and a strong international showing.

On Monday, Marico announced their financial earnings for the first quarter of the current fiscal year.

In its Q1 financial performance, the largecap FMCG firm posted a consolidated net profit of Rs 513 crore, an 8.23 per cent increase from Rs 474 crore in the same quarter last year.

The company’s revenue from operations surged 23 per cent year-on-year to Rs 3,259 crore, up from Rs 2,643 crore in the corresponding quarter of FY24.

Brokerages are bullish on Marico shares; check out ratings and targets

Following the results, several global brokerages revised their target prices for Marico’s stock, maintaining a bullish outlook. Here is what they recommend:

Four brokerages have maintained a ‘buy’ call on the FMCG stock. Jefferies raised its target price to Rs 850 from Rs 800, while Goldman Sachs and CLSA revised their targets to Rs 800. Nomura also retained its ‘buy’ rating, increasing the target price to Rs 825 from Rs 800. 

Meanwhile, JPMorgan maintained an ‘overweight’ rating on the stock, raising its target to Rs 800 from Rs 770.

Marico stock update

On Monday, shares of Marico closed almost 2 per cent higher at Rs 724.40 apiece on the NSE. Here is how the largecap FMCG stock fared in the past years:

Here is how the largecap FMCG stock has performed over the years:

• 8.32 per cent gain in the past 6 months
• 7.77 per cent gain in the past year
• 95.78 per cent gain in the past 5 years

(Disclaimer: The views/suggestions/recommendations expressed here in this article are solely by investment experts. Zee Business suggests its readers consult their investment advisers before making any financial decision.)