#AngelOne Recommendation Company: Marico Rating: Buy Target p | Angel One

#AngelOne Recommendation

Company: Marico
Rating: Buy
Target price: 600

Rationale to invest:
Marico is one of the major FMCG companies present in hair oil, edible oil, foods & personal care segment. Major brands include Parachute, Saffola, Nihar, Hair & Care, Set Wet, Livon & Beardo Marico’s products have strong brand recall coupled with an extensive distribution reach of more than 5mn outlets and a direct reach of 1 million outlets. We expect Marico to report a healthy bottom-line CAGR of 11% over FY2022-24E due to better volume growth on the back of a strong brand, and wide distribution network.

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