stood at 20%.According to analysts from Motilal Oswal Financial Services Ltd, “Marico has a more resilient portfolio of products than peers to withstand the covid-19 led sales and earnings decline in financial year 2021." The broking firm added, “This is possible on account of recovery seen in Parachute volumes prior to the covid-19 outbreak, successful turnaround and strong growth in Saffola edible oils and foods, and better outlook for the international business versus peers."However, valuations leave little room for meaningful upsides.
Currently, the stock trades at nearly 38 times estimated earnings for financial year 2022.Click here to read the Mint ePaperLivemint.com is now on Telegram.