Marico shares hit record high for two days: Trigger behind the rally and price target 

Marico Ltd shares hit their record high for the second straight session today on the back of Q1 business updates. The firm said it expects a strong operating profit growth led by robust business growth and softening of copra prices. It remains optimistic about consumption trends, while closely monitoring the evolving inflationary conditions and the impact of El Nino on the monsoon. Consolidated revenue is expected to grow in early twenties, driven by robust broad-based performance across our core, digital and international businesses.

Marico shares hit a record high of Rs 874, rising 2% on BSE in the current session. Market cap of the firm stood at Rs 1.09 lakh crore. In the previous session too, the stock hit a high of Rs 854.35. Marico stock has gained 39% in two years and risen 58% in three years.  

The stock fell to a 52-week low of Rs 690.40 on July 3, 2026. 

Brokerage JM Financial has raised its price target to Rs 985 against the previous target of Rs 930 on the FMCG stock. 

"We expect consolidated sales/EBITDA growth of 22%/19% YoY for the quarter, which we believe is best in class within our staple’s coverage. We like Marico’s execution (navigating inflationary cycle, portfolio transformation). We roll forward to June’28E and maintain BUY with a revised TP of Rs 985 (versus Rs 930 earlier)," said the brokerage. 

The FMCG major expects to report consolidated revenue growth in the low-twenties percentage range for the June quarter, supported by strong momentum across its domestic, digital and international businesses.

The company said its India business delivered double-digit underlying volume growth, marking the strongest performance in several quarters.

Marico also expects operating profit to grow strongly, aided by healthy business performance and lower copra prices, even as it significantly stepped up advertising and promotional spending during the quarter.

Its flagship Parachute brand recorded double-digit volume growth, the highest seen in multiple quarters. Meanwhile, the value-added hair oils portfolio posted revenue growth in the twenties percentage range, driven by premium product offerings and wider distribution reach.

On the international front, Marico's overseas business grew in the mid-teens percentage range in constant currency terms, led by strong performances in Vietnam and the Middle East & North Africa (MENA) region. However, demand conditions in Bangladesh remained relatively subdued due to elevated inflationary pressures.

"International business continued its strong growth momentum with mid-teens constant currency growth led by outperformance in Vietnam and MENA alongside positive contribution from all other markets. Bangladesh experienced a transient moderation in growth due to pricing anniversarisation and marginal demand softness amidst elevated inflation," said Marico in a stock exchange filing.