Mumbai: Consumer goods maker Marico said it was monitoring the situation in Bangladesh even as operating conditions were gradually seen to be improving in the neighbouring country. The safety of its staffers, factory workers, and distributors, among other stakeholders remained the company’s top priority, it said in a market filing.
The company said its medium-term business prospects in Bangladesh remained positive. While the company’s manufacturing operations have come to a standstill amid the protests, Marico said it plans to resume operations soon. Marico said it aims to maintain adequate product supply to meet market demand for the time being until its operations resume.
Marico’s revenue has a 12 per cent contribution from its Bangladesh business. The company said it aims to reduce Bangladesh’s share of total international revenue to 40 per cent by FY27 from 31 per cent in FY22.
Marico share price history
Marico’s share price rose 3.42 per cent to Rs 650 apiece on Wednesday, August 7, 2024.
The company’s stock was down 3.97 per cent in the past 5 days
Marico’s stock price rose 1.36 per cent in the past month
Marico’s share price jumped 23.28 per cent in the past 6 months
Marico’s share price surged 12.89 per cent in the past year
Marico Q1 earnings
The company reported an 8.74 per cent rise in Q1 net profit to Rs 464 crore from Rs 427 crore in the year-ago period.
Marico’s Q1 revenue jumped 6.70 per cent year-on-year to Rs 2,643 crore.
Marico’s India revenues stood at Rs 1,926 crore, up 7.38 per cent on-year basis to Rs 1,827 crore.
Marico share price target brokerage view
Emkay Global maintained its ‘reduce’ rating on Marico while raising the target price to Rs 700 per share, from Rs 630 per share earlier, for June 2025.
Nuvama Institutional Equities gave a BUY call on Marico with a target price of Rs 780 apiece
Brokerage Motilal Oswal gave a BUY rating on Mairco’s stock with a share price target of RS 750 apiece
Consumer goods maker Marico said its manufacturing operations in Bangladesh are expected to resume soon. The company is keeping a close watch on the situation even as normalcy was gradually returning to the country, it said. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
