INSUBCONTINENT EXCLUSIVE:
Antique Stock Broking has maintained hold rating on Marico in long term with a target price of Rs 357
Shares of Marico ended down 0.85% at Rs 331.95 on Monday while BSE Sensex closed 787.98 points (1.90%) down at 40,676.63.
Company
FinancialsFor the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 1829.00 Crore, down -15.56 % from last quarter
Sales of Rs 2166.00 crore and down -.43 % from last year same quarter Sales of Rs 1836.82 crore
The company has reported net profit after tax of Rs 252.00 crore in the latest quarter
The company’s top management includes Mr.Ananth Sankaranarayanan, Mr.B S Nagesh, Mr.Harsh Mariwala, Mr.Nikhil Khattau, Mr.Rajeev Bakshi,
Mr.Rajen Mariwala, Mr.Rishabh Mariwala, Mr.Saugata Gupta, Ms.Hema Ravichandar
As on 30-09-2019, the company has a total of 1,290,944,398 shares outstanding
Investment RationaleMarico's pre-quarter update for the three months ended December was below expectations suggesting a marginal decline in
domestic sales volumes, while benign raw material cost will continue to aid margin expansion
Sales performance should witness some improvement led by focused marketing initiatives and pricing interventions, the brokerage said
Antique has cut EPS estimate by 6% in FY20 and 14% in FY21.