Earnings Report /
Bangladesh

Marico Bangladesh: 2Q 21/22 – c14% NPAT growth on the back of robust sales growth; upgrade to Buy

  • 2Q 21/22 EPS of BDT 28.45 (+c14% YoY) meet our expectations, led by c17% YoY revenue growth

  • Declared BDT20/share interim cash dividend; we expect Marico to pay a total of BDT90/share cash dividend for FY 21-22

  • Upgrade to Buy with increased TP of BDT2,670 (+13% revision) for June 2022, ETR 18.9%

Auneea Haque
Auneea Haque

Research Associate

Tanay Kumar Roy
Tanay Kumar Roy

Research Analyst

IDLC Securities
25 October 2021
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