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Earnings Update: Marico Limited (NSE:MARICO) Just Reported Its Third-Quarter Results And Analysts Are Updating Their Forecasts

Simply Wall St · 01/30 00:02

Last week, you might have seen that Marico Limited (NSE:MARICO) released its third-quarter result to the market. The early response was not positive, with shares down 2.9% to ₹730 in the past week. Results were roughly in line with estimates, with revenues of ₹35b and statutory earnings per share of ₹3.44. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year.

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NSEI:MARICO Earnings and Revenue Growth January 30th 2026

Taking into account the latest results, the current consensus from Marico's 37 analysts is for revenues of ₹145.6b in 2027. This would reflect a meaningful 12% increase on its revenue over the past 12 months. Per-share earnings are expected to bounce 22% to ₹16.09. Before this earnings report, the analysts had been forecasting revenues of ₹143.1b and earnings per share (EPS) of ₹16.18 in 2027. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

See our latest analysis for Marico

It will come as no surprise then, to learn that the consensus price target is largely unchanged at ₹846. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. The most optimistic Marico analyst has a price target of ₹990 per share, while the most pessimistic values it at ₹527. These price targets show that analysts do have some differing views on the business, but the estimates do not vary enough to suggest to us that some are betting on wild success or utter failure.

Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. It's clear from the latest estimates that Marico's rate of growth is expected to accelerate meaningfully, with the forecast 9.4% annualised revenue growth to the end of 2027 noticeably faster than its historical growth of 7.2% p.a. over the past five years. Other similar companies in the industry (with analyst coverage) are also forecast to grow their revenue at 9.8% 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 obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. Happily, there were no real changes to revenue forecasts, with the business still expected to grow in line with the overall industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that in mind, we wouldn't be too quick to come to a conclusion on Marico. Long-term earnings power is much more important than next year's profits. We have estimates - from multiple Marico analysts - going out to 2028, 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...