DSE:MARICO

Stock Analysis Report

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Executive Summary

Marico Bangladesh Limited manufactures and markets consumer products in Bangladesh. More Details


Snowflake Analysis

Flawless balance sheet with solid track record and pays a dividend.

Share Price & News

How has Marico Bangladesh's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MARICO is less volatile than 75% of BD stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: MARICO's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

-0.8%

MARICO

0.6%

BD Personal Products

-0.9%

BD Market


1 Year Return

22.0%

MARICO

3.3%

BD Personal Products

2.9%

BD Market

Return vs Industry: MARICO exceeded the BD Personal Products industry which returned 3.1% over the past year.

Return vs Market: MARICO exceeded the BD Market which returned 2.6% over the past year.


Shareholder returns

MARICOIndustryMarket
7 Day-0.8%0.6%-0.9%
30 Day-5.5%4.6%-0.3%
90 Day3.8%4.1%-0.6%
1 Year29.1%22.0%4.7%3.3%7.0%2.9%
3 Year125.7%91.5%2.9%-1.1%-8.0%-17.2%
5 Year76.7%39.0%25.5%17.5%32.9%10.8%

Long-Term Price Volatility Vs. Market

How volatile is Marico Bangladesh's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Marico Bangladesh undervalued compared to its fair value and its price relative to the market?

22.45x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: MARICO (BDT2076.2) is trading above our estimate of fair value (BDT1143.09)

Significantly Below Fair Value: MARICO is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: MARICO is good value based on its PE Ratio (22.5x) compared to the XA Personal Products industry average (28.4x).

PE vs Market: MARICO is poor value based on its PE Ratio (22.5x) compared to the BD market (18.9x).


Price to Earnings Growth Ratio

PEG Ratio: MARICO is poor value based on its PEG Ratio (3.3x)


Price to Book Ratio

PB vs Industry: MARICO is overvalued based on its PB Ratio (41.1x) compared to the XA Personal Products industry average (2.3x).


Next Steps

Future Growth

How is Marico Bangladesh forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

6.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MARICO's forecast earnings growth (6.9% per year) is above the savings rate (3.9%).

Earnings vs Market: MARICO's earnings (6.9% per year) are forecast to grow slower than the BD market (10.5% per year).

High Growth Earnings: MARICO's earnings are forecast to grow, but not significantly.

Revenue vs Market: MARICO's revenue (11.8% per year) is forecast to grow faster than the BD market (8.4% per year).

High Growth Revenue: MARICO's revenue (11.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MARICO's Return on Equity is forecast to be very high in 3 years time (298.1%).


Next Steps

Past Performance

How has Marico Bangladesh performed over the past 5 years?

17.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MARICO has high quality earnings.

Growing Profit Margin: MARICO's current net profit margins (27.8%) are higher than last year (26.8%).


Past Earnings Growth Analysis

Earnings Trend: MARICO's earnings have grown by 17% per year over the past 5 years.

Accelerating Growth: MARICO's earnings growth over the past year (16.2%) is below its 5-year average (17% per year).

Earnings vs Industry: MARICO earnings growth over the past year (16.2%) exceeded the Personal Products industry -1.2%.


Return on Equity

High ROE: MARICO's Return on Equity (182.9%) is considered outstanding.


Next Steps

Financial Health

How is Marico Bangladesh's financial position?


Financial Position Analysis

Short Term Liabilities: MARICO's short term assets (BDT4.7B) exceed its short term liabilities (BDT4.2B).

Long Term Liabilities: MARICO's short term assets (BDT4.7B) exceed its long term liabilities (BDT242.0M).


Debt to Equity History and Analysis

Debt Level: MARICO is debt free.

Reducing Debt: MARICO had no debt 5 years ago.

Debt Coverage: MARICO has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: MARICO has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Marico Bangladesh current dividend yield, its reliability and sustainability?

4.58%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MARICO's dividend (4.58%) is higher than the bottom 25% of dividend payers in the BD market (1.24%).

High Dividend: MARICO's dividend (4.58%) is in the top 25% of dividend payers in the BD market (3.84%)


Stability and Growth of Payments

Stable Dividend: MARICO's dividend payments have been volatile in the past 10 years.

Growing Dividend: MARICO's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (75.7%), MARICO's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MARICO's dividends in 3 years are not forecast to be well covered by earnings (101.9% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.1yrs

Average management tenure


CEO

Ashish Goupal

2.33yrs

Tenure

Mr. Ashish Goupal is Managing Director and Director of Marico Bangladesh Limited since July 18, 2018. Mr. Goupal joins Marico Bangladesh after a long and rich career with Marico Group where he was Head of ...


Leadership Team

NamePositionTenureCompensationOwnership
Ashish Goupal
MD & Director2.33yrsno datano data
Pawan Agrawal
Chief Finance Officer & Director0.17yrno datano data
Gaurav Mediratta
Chief Legal Officer1.83yrsno datano data
Atiar Rahman
Head of Internal Audit & Complianceno datano datano data
Mohammad Ullah
Director of Sales0.92yrno datano data
Allen Eric
Director of Marketing1.08yrsno datano data
Ashish Mane
Director of Human Resourcesno datano datano data
Md. Alam
Director of Manufacturingno datano datano data
Sanjay Mishra
COO of India Sales4.83yrsno data0%
BDT 0
Mohammad Rahman
Head of Supply Chain & NPDno datano datano data
Christabel Randolph
Director of Legal & Corporate Affairs and Company Secretary4.33yrsno datano data

1.1yrs

Average Tenure

Experienced Management: MARICO's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Ashish Goupal
MD & Director2.33yrsno datano data
Pawan Agrawal
Chief Finance Officer & Director0.17yrno datano data
Sanjay Mishra
COO of India Sales4.83yrsno data0%
BDT 0
Saugata Gupta
Chairman7.83yrsno data0%
BDT 0
Ashraful Hadi
Independent Director4.58yrsno datano data
Parveen Mahmud
Independent Director0.83yrno datano data
Zakir Khan
Independent Director0.83yrno datano data

2.7yrs

Average Tenure

Experienced Board: MARICO's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Marico Bangladesh Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Marico Bangladesh Limited
  • Ticker: MARICO
  • Exchange: DSE
  • Founded: 1999
  • Industry: Personal Products
  • Sector: Household
  • Market Cap: ৳65.400b
  • Shares outstanding: 31.50m
  • Website: https://www.marico.com/bangladesh

Location

  • Marico Bangladesh Limited
  • The Glass House
  • Level-06, Plot : 02, Block : SE (B)
  • Dhaka
  • 1212
  • Bangladesh

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MARICODSE (Dhaka Stock Exchange Ltd.)YesOrdinary SharesBDBDTSep 2009

Biography

Marico Bangladesh Limited manufactures and markets consumer products in Bangladesh. It provides coconut oil under the Parachute brand; enriched hair oil products under the Parachute Advansed brand; hair oi...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/26 10:30
End of Day Share Price2020/11/25 00:00
Earnings2020/09/30
Annual Earnings2020/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.