Here's What Analysts Are Forecasting For Marico Limited (NSE:MARICO) After Its Third-Quarter Results

The quarterly results for Marico Limited (NSE:MARICO) were released last week, making it a good time to revisit its performance. Marico reported ₹24b in revenue, roughly in line with analyst forecasts, although statutory earnings per share (EPS) of ₹2.96 beat expectations, being 4.2% higher than what the analysts expected. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.

Check out our latest analysis for Marico

Taking into account the latest results, the current consensus from Marico's 38 analysts is for revenues of ₹107.5b in 2025. This would reflect a meaningful 12% increase on its revenue over the past 12 months. Statutory earnings per share are predicted to expand 12% to ₹12.69. Before this earnings report, the analysts had been forecasting revenues of ₹111.5b and earnings per share (EPS) of ₹12.94 in 2025. So it looks like the analysts have become a bit less optimistic after the latest results announcement, with revenues expected to fall even as the company is supposed to maintain EPS.

The consensus has reconfirmed its price target of ₹578, showing that the analysts don't expect weaker revenue expectations next year to have a material impact on Marico's market value. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. There are some variant perceptions on Marico, with the most bullish analyst valuing it at ₹650 and the most bearish at ₹496 per share. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. It's clear from the latest estimates that Marico's rate of growth is expected to accelerate meaningfully, with the forecast 9.3% annualised revenue growth to the end of 2025 noticeably faster than its historical growth of 7.7% p.a. over the past five years. Other similar companies in the industry (with analyst coverage) are also forecast to grow their revenue at 10% per year. Factoring in the forecast acceleration in revenue, it's pretty clear that Marico is expected to grow at about the same rate as the wider industry.

The Bottom Line

The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Sadly, they also downgraded their revenue forecasts, but the business is still expected to grow at roughly the same rate as the industry itself. Yet - earnings are more important to the intrinsic value of the business. The consensus price target held steady at ₹578, with the latest estimates not enough to have an impact on their price targets.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have forecasts for Marico going out to 2026, and you can see them free on our platform here.

Even so, be aware that Marico is showing 1 warning sign in our investment analysis , you should know about...

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.