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Investing.com - UBS has raised its price target on Marico Ltd (NS:MRCO) to INR830 from INR800 while maintaining a Neutral rating, following the company’s Q2FY26 results that showed resilient domestic performance and strong international growth.
The consumer goods company reported consolidated revenue growth of 30.7% year-over-year, while EBITDA increased by 7.3%. Profit after tax (PAT) showed a marginal decline of 0.2%, though it grew 8% after adjusting for one-off items in the base period.
Marico ’s domestic volume grew by 7% year-over-year, while its international business expanded by 20% in constant currency terms. The company’s gross margin declined by approximately 814 basis points year-over-year due to sharp inflation in copra prices.
In its key segments, Parachute revenue grew 59% year-over-year despite a 3% volume decline, while Saffola Oil saw 19% revenue growth with flat volume. Value-added Hair Oils revenue increased by 16%, led by double-digit volume growth in premium offerings.
The international business maintained strong momentum with 19% revenue growth, driven by strong performance in Bangladesh and MENA regions, while Vietnam showed gradual recovery.
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