Financials Marico Bangladesh Limited

Equities

MARICO

BD0481MRICO6

Personal Products

End-of-day quote Dhaka S.E. 06:00:00 2024-04-24 pm EDT 5-day change 1st Jan Change
2,413 BDT -0.75% Intraday chart for Marico Bangladesh Limited -0.70% -1.93%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 45,259 49,219 65,426 74,189 76,277 76,013 - -
Enterprise Value (EV) 1 45,259 49,219 65,426 73,812 74,152 76,013 76,013 76,013
P/E ratio - - - 20.9 x 19.7 x 16.7 x 14.9 x 13.3 x
Yield 4.52% 6.08% 4.33% 3.4% 3.1% 3.33% 5.52% 7.48%
Capitalization / Revenue 5.16 x 5.02 x 5.79 x 5.69 x 5.4 x 5.19 x 4.56 x 4.08 x
EV / Revenue 5.16 x 5.02 x 5.79 x 5.69 x 5.4 x 5.19 x 4.56 x 4.08 x
EV / EBITDA 16.9 x 14 x 14.9 x 15.3 x 14.3 x 12.5 x 11.4 x 10.2 x
EV / FCF 17.1 x 18.3 x 21.4 x 22.5 x 15.6 x 25.8 x 16.8 x 14.3 x
FCF Yield 5.83% 5.47% 4.68% 4.44% 6.39% 3.88% 5.96% 6.99%
Price to Book 34.8 x 35.5 x 40 x 27.6 x 21.3 x 13 x 9.56 x 8.21 x
Nbr of stocks (in thousands) 31,500 31,500 31,500 31,500 31,500 31,500 - -
Reference price 2 1,437 1,562 2,077 2,355 2,422 2,413 2,413 2,413
Announcement Date 7/23/19 5/15/20 4/28/21 4/28/22 5/17/23 - - -
1BDT in Million2BDT
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 8,768 9,796 11,307 13,032 14,136 14,642 16,685 18,647
EBITDA 1 2,685 3,512 4,394 4,845 5,342 6,099 6,689 7,463
EBIT 1 2,592 3,380 4,232 4,627 5,138 5,776 6,372 7,274
Operating Margin 29.56% 34.5% 37.43% 35.51% 36.35% 39.45% 38.19% 39.01%
Earnings before Tax (EBT) 1 - - - 4,497 5,032 5,904 6,533 7,426
Net income 1 - - - 3,554 3,872 4,562 5,086 5,784
Net margin - - - 27.27% 27.39% 31.15% 30.48% 31.02%
EPS 2 - - - 112.8 122.9 144.8 161.5 182.0
Free Cash Flow 1 2,640 2,693 3,063 3,292 4,877 2,952 4,530 5,313
FCF margin 30.11% 27.49% 27.09% 25.26% 34.5% 20.16% 27.15% 28.49%
FCF Conversion (EBITDA) 98.32% 76.67% 69.71% 67.94% 91.29% 48.39% 67.72% 71.19%
FCF Conversion (Net income) - - - 92.62% 125.93% 64.7% 89.06% 91.85%
Dividend per Share 2 65.00 95.00 90.00 80.00 75.00 80.30 133.2 180.4
Announcement Date 7/23/19 5/15/20 4/28/21 4/28/22 5/17/23 - - -
1BDT in Million2BDT
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2024 Q2 2024 S1
Net sales - 7,718
EBITDA - -
EBIT 1 1,572 -
Operating Margin - -
Earnings before Tax (EBT) - -
Net income 1 1,169 -
Net margin - -
EPS - -
Dividend per Share - -
Announcement Date 11/8/23 11/8/23
1BDT in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - 377 2,125 - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 2,640 2,693 3,063 3,292 4,877 2,952 4,530 5,313
ROE (net income / shareholders' equity) 145% 197% 206% 164% 123% 99% 79.7% 89.3%
ROA (Net income/ Total Assets) 44.7% 55.2% 57.6% 55.3% 41.5% 36.7% 35.4% 40%
Assets 1 - - - 6,421 9,342 12,429 14,355 14,460
Book Value Per Share 2 41.30 44.10 52.00 85.40 114.0 186.0 252.0 294.0
Cash Flow per Share 2 - - - - - 185.0 187.0 224.0
Capex 1 88.8 320 - 314 518 401 438 493
Capex / Sales 1.01% 3.27% - 2.41% 3.67% 2.74% 2.63% 2.64%
Announcement Date 7/23/19 5/15/20 4/28/21 4/28/22 5/17/23 - - -
1BDT in Million2BDT
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
2,413 BDT
Average target price
3,041 BDT
Spread / Average Target
+26.01%
Consensus

Annual profits - Rate of surprise

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