Marico Shares Surge Over 8% Following Q2 Earnings Beat and Guidance Upgrade

Shares of Marico Limited surged over 8 percent on the National Stock Exchange on Tuesday morning, reaching a high of ₹865 by mid-session following the company's second-quarter earnings announcement.

At 11:34 AM, the stock traded at ₹863.65, marking an increase of ₹65.10 or 8.15 percent compared to its previous close of ₹798.55. The stock opened the session at ₹832.55, moving within a range of ₹826.05 to ₹865. Trading volumes were active with over 90.69 lakh shares traded, representing a total value of ₹770.55 crore. The company's market capitalisation stood at approximately ₹1.12 lakh crore, and the stock's 52-week high remains at ₹889.10, recorded on July 30, 2026.

For Q2FY27, Marico posted consolidated revenue of ₹3,897 crore, representing a 13 percent year-on-year growth. EBITDA increased by 27 percent to reach ₹709 crore, with margins expanding by 200 basis points to 18.2 percent, marking the highest margin in 50 quarters. Profit after tax rose 31 percent to ₹550 crore, recording the sharpest growth in 51 quarters. During the quarter, domestic volume growth was reported at 10 percent, while the international business grew by 13 percent in constant currency terms.

The financial performance prompted multiple brokerages to adjust their ratings and target prices. Elara Securities upgraded the stock from Accumulate to BUY, raising its target price to ₹1,000 from ₹970, and noted a recent 10 percent correction in the stock alongside improved growth visibility. JM Financial maintained its BUY rating, lifting its target to ₹950 from ₹940 and revising its FY27–29 EPS estimates upward by 2 to 4 percent. InCred Equities retained its ADD rating with an increased target of ₹980, up from ₹960, pointing to gross margin expansion and the company's guidance upgrade. Motilal Oswal reiterated its BUY rating with a target of ₹975, identifying Marico as a top pick in the consumer sector.

A key factor across these brokerage reports was management's revised guidance. The company now expects mid-twenties EBITDA growth for FY27, compared to its earlier high-teens target, and has advanced its target of reaching ₹20,000 crore in revenue from FY30 to FY29.

"Marico's latest quarterly performance demonstrates how strong operational efficiency and robust volume growth can directly influence market sentiment. When a company expands its margins to multi-quarter highs while upgrading its long-term revenue and EBITDA guidance, it naturally attracts positive reactions from institutional brokerages and investors alike. This serves as a strong reminder that consistent fundamental performance remains a critical driver of enterprise value in the consumer goods sector." — Dr. Shishir Gupta, Founder & CEO, StartupLanes