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Marico Ltd

BSE Code : 531642 | NSE Symbol : MARICO | ISIN:INE196A01026| SECTOR : Edible Oil |

NSE BSE
 
SMC down arrow

595.25

-1.80 (-0.30%) Volume 83860

18-May-2024 12:19:58

Prev. Close

597.05

Open Price

597.00

Bid Price (QTY)

594.25(265)

Offer Price (QTY)

595.10(738)

 

Today’s High/Low 599.90 - 591.10

52 wk High/Low 612.40 - 486.30

Key Stats

MARKET CAP (RS CR) 77232
P/E 71.64
BOOK VALUE (RS) 27.7985094
DIV (%) 450
MARKET LOT 1
EPS (TTM) 8.33
PRICE/BOOK 21.4687770273035
DIV YIELD.(%) 1.59
FACE VALUE (RS) 1
DELIVERABLES (%) 43.68

F&O Quote

597

3 (1%)
Open Price 594 Average Price 593 Open interest 15,415,200
High Price 599 No. Of Contracts Traded 3,432,000 Open Interest Change 151,200
Low Price 584 Turnover (`. In Lakhs) 2,034,283,680 Open Interest Change(%) 1%
Prev. Close 594 Market Lot 1,200 Option Chain | Detailed View >>
4

News & Announcements

14-May-2024

Marico Ltd - Marico Limited - Analysts/Institutional Investor Meet/Con. Call Updates

13-May-2024

Marico Ltd - Marico Limited - Allotment of Securities

11-May-2024

Marico allots 1.97 lakh equity shares under ESOP

08-May-2024

Marico Ltd soars 1.37%, up for third straight session

11-May-2024

Marico allots 1.97 lakh equity shares under ESOP

11-Apr-2024

Marico to discuss results

27-Feb-2024

Board of Marico appoints director

20-Feb-2024

Marico schedules board meeting

Corporate Actions

Bonus
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Financials

Income Statement

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Peers Comparsion

Select Company Name BSE Code NSE Symbol
Adani Wilmar Ltd 543458 AWL
Akash Agro Industries Ltd 530691
Alpine Industries Ltd 519012 ALPINEIND
Ambar Protein Industries Ltd 519471
Ambik Proteins Ltd 519240
Ambo Agritec Ltd 543678
Ambuja Agro Industries Ltd 519164
Amrit Banaspati Company Ltd 531728
Anjani Solvents India Ltd 526377
Arti Agro Industries Ltd 519301
Asha Agro Industries Ltd 526309
Atlas Soya Proteins Ltd 519067
AVI Industries Ltd (Wound-up) 519467
Azure Exim Services Ltd 531783
Bajwa Agro Industries Ltd 530737
Basil Chemicals & Additives Ltd 532032
BCL Industries Ltd 524332 BCLIND
Bhakra Industries Ltd 519349
Bharani Oils Ltd 519423
Capsein Bio-Lab Ltd (Wound-up) 531730
Chakan Vegoils Ltd 519459
Chand Vanaspati Ltd 519297
Chhatar Extraction Ltd 519461
Chhattar Industries Ltd 519086
CIAN Agro Industries & Infrastructure Ltd 519477
Coromandel Agro Products and Oils Ltd 507543
Darshan Oils Ltd 526249
Diamond Agro Industries Ltd 526540
Diligent Industries Ltd 531153
Divya Jyoti Industries Ltd 526285
Excel Castronics Ltd 526735
Flavex Aromats (I) Ltd 40320
G P Industries Ltd 519351
Girdharilal Sugar & Allied Industries Ltd 507506 NARMADASUG
Goa Agro Oils Ltd 519181
Gokul Agro Resources Ltd 539725 GOKULAGRO
Gokul Refoils and Solvent Ltd 532980 GOKUL
Golden Soya Ltd 519568
Growmore Solvent Ltd (Merged) 519371 GROMORSOLV
Gujarat Ambuja Exports Ltd 524226 GAEL
Gujarat Ambuja Proteins Ltd (Merged) 519061 GUJAMBPROT
Hillmens Agro (India) Ltd 40382
Ichalkaranji Soya Ltd 531315
India Castor Ltd (Wound-up) 520153
Integrated Proteins Ltd 519606
J R Foods Ltd 530915
J S P Oils & Fats Ltd 530383
Jupiter Biotech Ltd (Merged) 524099
K S Oils Ltd 526209 KSOILS
Kabra Agro Industries Ltd 519010
Kalyani Refineries Ltd 526809
Kedia Continental Ltd 531445
Kemicare Products Ltd 531579
Keycer Agro Products Ltd 40443
KGN Agro Internationals Ltd 531947
KGN Enterprises Ltd 533790
Khandelwal Extractions Ltd 519064
KN Agri Resources Ltd 535439 KNAGRI
Kocher Oil Mills Ltd 519023
Kothari Global Ltd 519176
Kriti Nutrients Ltd 533210 KRITINUT
Kusum Agrotech Ltd 519409
Kusum Products Ltd 40689
Liberty Oil Mills Ltd 519232
M K Proteins Ltd 543919 MKPL
M Ravji Oil Industries Ltd 519138
Mac Industries Ltd (Merged) 519220 MACIND
Madhu Refoils & Chemicals Ltd 524338
Madhumilan Syntex Ltd 514230 MADHUSYNTX
Madhyavart Exxoil Ltd 526287
Maheshwari Proteins Ltd 507682
Makan Agro Oils Ltd 519246
Mangalam Global Enterprise Ltd 535349 MGEL
Mangalwedhe Sun-Soya Ltd 523834
Mansinghka Oil Products Ltd 519189
Midland Industries Ltd 509083
Modi Naturals Ltd 519003
Murli Industries Ltd 519323 MURLIIND
N K Industries Ltd 519494 NKIND
Natraj Proteins Ltd 530119
Navcom Industries Ltd 519200
Nu Tech Organic Chemicals Ltd 531075
Nu-Tech Agros Ltd 519337
Organic Chemoils Ltd 524107
Pan Asia Global Ltd 519325 PANASIGLOB
Pankaj Agro Protinex Ltd 519194
Paos Industries Ltd 530291
Patanjali Foods Ltd 500368 PATANJALI
Pawan Proteins Ltd 519445
Poona Dal and Oil Industries Ltd 519359
Prakash Solvent Extractions Ltd 519430
Premier Industries (India) Ltd 507831
Premier Proteins Ltd 519178
Prestige Foods Ltd(Merged) 519027
Prima Industries Ltd 531246
Prime Solvent Extractions Ltd 519447
Progrex Ventures Ltd 531265
Prudential Sri Jagannath Agro-Tech Ltd 519289
R L Agrotech Ltd 519333
Raghunath Cotton & Oil Products Ltd 519258
Raj Oil Mills Ltd 533093 ROML
Rajesh Solvex Ltd 519514
Rajgor Castor Derivatives Ltd 91851 RCDL
Ramdevbaba Solvent Ltd 46235 RBS
Rasoya Proteins Ltd 531522 RASOYPR
Ratnamani Agro Industries Ltd 507652
Rico Agroils Ltd (Merged) 519196
Rishi Oil & Fats Ltd (Wound-up) 526317
ROM Industries Ltd (Liquidated) 519166 ROMIND
S & S Industries & Enterprises Ltd 523554 S&SIND
Sagar Soya Products Ltd 507663
Sakthi Soyas Ltd (Merged) 519146
Sanjivani Agro Industries Ltd 519405
Sarvottam Industries Ltd 519315
Satguru Agro Industries Ltd 519192
Sathyakamal Agros Ltd 530761
Sharda Solvent Ltd 530679
Shetkari Solvent (India) Ltd 40166
Shree Rajivlochan Oil Extraction Ltd 530295
Shree Ram Proteins Ltd 532567 SRPL
Shree Shakthi Agro Oils Ltd 519449
Shri Anjaney Agro Foods Ltd 519489
Shri Ishar Agro Ltd(wound-up) 519355
Shri Sainath Proteins Ltd 531701
Shri Venkatesh Refineries Ltd 543373
Sidh Industries Ltd 526979
SKG Solvex Ltd 524240
South East Agro Industries Ltd 531679
Spisys Ltd 539168
SUL India Ltd 507517
Suncity Industries Ltd 519610
Sunrise Oleochemicals Ltd(liquidated) 530935
Surya Agroils Ltd(wound-up) 500406 SURYAGROIL
Thapar Agro Mills Ltd 519029 THAPARAGRO
Thapar Oils & Fats Ltd 519443
Tinna Oils & Chemicals Ltd 519256
Tirupati Industries (India) Ltd 531547
Trezer Oil Agro Tech Ltd 531170
Tri-Star Soya Products Ltd(wound-up) 507668
Trombo Extractions Ltd 519303
Unique Agro Processors (India) Ltd 526915
United Soyaa Products Ltd 519001
Varuna Agroproteins Ltd 519144
Vegepro Foods & Feeds Ltd 519140 VEGPROFOOD
Vijay Solvex Ltd 531069
Vimal Oil and Foods Ltd 519373 VIMALOIL
Vippy Industries Ltd 519039 VIPPYSOLVX
Vizar Agrochemicals Ltd 531567
Vrundavan Agro Industries Ltd 519542
Yuvraj International Ltd 512285

Share Holding

Category No. of shares Percentage
Total Foreign 334782333 25.87
Total Institutions 130612662 10.09
Total Govt Holding 1872 0.00
Total Non Promoter Corporate Holding 2447656 0.19
Total Promoters 768017739 59.35
Total Public & others 58239566 4.51
Total 1294101828 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Marico Ltd

Marico Limited, headquartered in Mumbai, Maharashtra, carries on business in branded consumer products. Marico manufactures and markets products with the brands such as Parachute, Parachute Advansed, Nihar, Nihar Naturals, Saffola, Hair & Care, Revive, Mediker, Livon, Set-wet, etc. The Company's products reach its consumers through retail outlets serviced by its distribution network comprising regional offices, carrying & forwarding agents, redistribution centers & distributors spread all over India. Marico Limited (ML), a leading Fast Moving Consumer Goods (FMCG) player was incorporated on 13th October 1988 under the name of Marico Foods Limited. The name of the company was changed from Marico Foods Limited to Marico Industries Limited with effect from 31st October of the year 1989. During the same year 1989, in December, the company had entered into an agreement with M/s. Rasoi Industries Limited for purchase of its unit located at M.I.D.C. Industrial Estate, Jalgaon. After a year, in 1990, ML made a Registered Users Agreement with Bombay Oil Industries Ltd (BOIL) for the use of the brands Parachute and Saffola for an initial period of 3 years commenced from 1st April of the same year. The Company established a new plant at Kanjikode, Palghat District of Kerala to manufacture Parachute Coconut Oil with capacity of 24000 tonnes of coconut oil per annum, began commercial operation in May of the year 1993. During the year 1995, ML had acquired the Brand SIL' from KFL for the consideration of Rs 3 crores. Marico had extended its Sweekar oil brand during the year 1997, by the way of two new refined oils entry namely Sweekar cotton seed oil and Sweekar mustard oil. In the identical year of 1997, the company had set up a factory near Jalgaon to process the cotton seeds and another factory near Jaipur for the mustard oil. The Company made the join venture between a Lever group company and Nissin of Japan in the year 1998, and its products were distributed through HLL's channels. During the year 2000, the company made a tie up with the International Association of Trichologists (IAT), a non-profit organisation based in Australia. In the identical year, ML had launched Parachute Dandruff Solution Coconut Hair Oil in Calcutta, the first oil to combine coconut oil with antidandruff properties in single hair oil. After a year, in 2001, the company had introduced the Revive Anti-Bacteria starch. Marico had acquired a controlling equity interest in Sundari LLC during the period of 2003. High Court of Judicature at Bombay approves the Scheme of Amalgamation of Anandita Arnav Trading & Investment Private Ltd, Madhav Nandini Trading & Investment Private Ltd, Rajvi Rishabh Trading & Investment Private Ltd and Rishabh Harsh Trading & Investment Private Ltd with the company on 12th February 2004. In the same year of 2004, the company had forayed into the beauty products segment with the launch of Silk-n-Shine, a post-wash hair care product. During the year 2006, Marico had acquired Hindustan Lever Limited's Nihar for the consideration of Rs 216 crores. In October of the year 2007, the company had entered into the South African ethnic hair care and health care market. Marico acquired the consumer division of Enaleni Pharmaceuticals, through purchase of 100% shares in Enaleni Pharmaceuticals Consumer Division (EPCD), an Enaleni subsidiary. ML had divested of its processed foods business, Sil' to a Danish business house, Good Food Group in March of the year 2008. The transaction, for an undisclosed consideration envisages a sale of Mario's Sil business to the Indian subsidiary of Good Food Group A/S, Scandic Food India (Scandic). In 2009, Marico made a public offering of equity in Bangladesh in a first for one its overseas subsidiaries. In 2010, Marico began its South East Asia journey with the launch of Code 10, a male grooming brand, in Malaysia and Derma Rx skin care solutions in Singapore. In India, Saffola launched Masala oats as breakfast food during the year. In 2011, Parachute Advanced entered the skin-care category with the launch of Parachute Advanced Body Lotion (PABL). During the year, Parachute Gold Hair Cream was launched in the Middle East market targeted to women. On 18 February 2011, Marico announced that it has acquired 85% equity stake in International Consumer Products Corporation (ICP), one of the most successful Vietnamese FMCG companies, for an undisclosed consideration. ICP was founded, in 2001, by Dr. Phan Quoc Cong and his partner. ICP achieved a turnover of a little over USD 25 million during the calendar year 2010. Its brands X-Men, L'Ovite, Thuan Phat and others have a significant presence across personal care, beauty cosmetics and sauces/condiments categories. On 25 March 2011, Marico Group announced the divestment of its refined sunflower oil brand Sweekar' to Cargill India Private Limited (Cargill). The transaction, for an undisclosed consideration, envisages an assignment of the Sweekar trademark and copyrights from Marico to Cargill. On 15 February 2012, Marico announced that it has executed documents to acquire Set Wet, Livon, Zatak and certain other personal care brands currently owned by Reckitt Benckiser (RB). RB had acquired these brands from Paras Pharmaceuticals in a deal completed during April 2011. The transaction envisages transfer of all key assets including intellectual property rights, supply agreements and third party manufacturing agreements (Paras PC business), for an undisclosed consideration. These assets are in the process of being transferred to a separate company in which Marico will acquire 100% shares. The Paras PC business is expected to achieve a turnover of over Rs 150 crore during FY 2012. Brands in the portfolio are amongst the top three positions in the hair gels, male deodorant and leave-on hair serum categories. This acquisition gives Marico an opportunity to participate in the rapidly growing deodorant and male grooming categories in India. The Board of Directors of Marico at its meeting held on 6 April 2012 considered, approved and recommended a proposal to issue and allot 2.94 crore equity shares at issue price of Rs 170 per share aggregating Rs 500 crore on preferential basis to Indivest Pte Ltd, an affiliate of Government of Singapore Investment Corporation Pte Ltd (GIC), and Baring India Private Equity Fund III Listed Investments Limited. The Board of Directors of Marico at its meeting held on 7 January 2013 approved demerger of the Kaya skin care solutions business into a separate company which will be named Marico Kaya Enterprises Limited (MaKE) or any such other name as may be approved by the Registrar of Companies. The business undertaking of Kaya housed in Marico Limited, comprising investment in equity of Kaya Limited, related IPRs, employee contracts and cash and bank balances will be demerged into MaKE through a High Court approved Scheme of Arrangement, subject to approvals by the shareholders and creditors and lenders in Marico Limited. As a consideration, the shareholders of Marico Limited as on the record date, shall be issued 1 share of MaKE with a face value of Rs 10 each to be issued at a premium of Rs 200 per share for every 50 shares of Marico with a face value of Re 1 each. On 25 October 2013, Marcio announced that it has decided to stop production at its manufacturing plant at Ponda in Goa. This unit was set up in 1997 for manufacture and packaging of pure coconut oil. Due to input material supply and logistic dynamics that changed over the year, the operations at the plant became commercially unviable. The company has decided to close the plant in due course for which initial preparatory steps are being taken. With effect from 21 November 2013, Marico stopped manufacturing activities at its Dehradun Camp Road plant and initiated for a closure of the plant. This plant was set up in 2003 for manufacture of cosmetics. On 14 January 2014, credit rating agency CRISIL upgraded its ratings on the long-term debt instruments, and long-term bank facilities of Marico to 'CRISIL AA+/Stable' from 'CRISIL AA/Positive', and reaffirmed its rating on the short-term debt programme and short-term bank facilities at 'CRISIL A1+'. The rating upgrade reflects CRISIL's expectation of improvement in Marico's business risk profile over the medium term driven by increasing revenue diversity and dominant market position in branded coconut oil, value added hair oil, and premium refined edible oil segments. The Board of Directors of Marico at its meeting held on 4 November 2015 recommended the issue bonus shares in the ratio of 1:1 i.e. one fully paid-up equity share of Re. 1 each for every one existing fully paid-up equity share of Re. 1 each held in the company. On 27 May 2016, Marico announced that the commercial production for manufacturing of value added hair oils has successfully commenced at its newly set up plant in Guwahati, Assam. Marico's second plant in Guwahati, Assam set up to manufacture value added personal care products successfully commenced commercial production on 16 March 2017. On 17 March 2017, Marico announced a strategic investment in Zed Lifestyle Private Limited with an acquisition of 45% equity stake for an undisclosed consideration. The equity stake shall be acquired over a period of two years, through primary infusion and secondary buy-outs. Zed Lifestyle owns Beardo, a fast growing male grooming brand founded by entrepreneurs Ashutosh Valani and Priyank Shah in June 2016 in Ahmedabad, India. Marico views this investment in Zed Lifestyle as a stepping stone towards its ambition of strengthening its presence and widening its portfolio in the male grooming market. On 28 July 2017, Marico South Africa Pty. Limited (MSA), a wholly owned step-down subsidiary of Marico announced the acquisition of business including related intellectual property rights of ISOPLUS, a leading hair styling brand in South Africa from JM Products SA Pty. Limited and Ms. Mary L Harris, its owner for a consideration of 75 million South African Rand (about Rs 36 crore) at a revenue multiple of 1.2. The strategic buyout will enable MSA to become a full spectrum ethnic hair care company in South Africa. The acquisition comprises purchase of manufacturing facilities, working capital and all intellectual property rights owned by JM Products and Ms. Mary L Harris. On 7 March 2018, Marico announced that it has exited Bellezimo Professionale Products Private Limited (Bellezimo) by selling back its entire 45% equity stake in the company to the promoters of Bellezimo for a total consideration of Rs 1.60 crore. Bellezimo is engaged in marketing skin care products to cater to Salons channel. The capital expenditure in FY2018 was Rs 128 crore (USD20 million). During the FY2019,the company entered into Shareholders' Agreement and share subscription agreement with Revolutionary Fitness Pvt Ltd(Revofit) and acquired 22.46% of its equity stake. Consequently Revofit became an associate company of Marico. During the FY2020,the company spent Rs 194 crore towards capital expenditure(CAPEX) for capacity expansion and maintenance of existing manufacturing facilities. The Ministry of Home Affairs vide order No.40-3/2020 dated 24.03.2020 notified first ever nationwide lockdown in India to contain the outbreak of COVID 19. As a result, the operations were temporarily disrupted at manufacturing, warehouse and distribution locations of Marico India. Further, International businesses were also temporarily disrupted with many of the territories experiencing partial or complete lockdown in the last week of March 2020. On 30 June 2020, the Company has acquired the remaining 55% stake in ZED Lifestyle Private Limited (which was earlier a Joint Venture) and converted it into a wholly owned subsidiary. During the quarter ended 30 September 2020, the Company has sold its entire stake in 'Revolutionary Fitness Private Limited' and 'Hello Green Private Limited' (Joint Ventures). The National Company Law Tribunal at Mumbai Bench has, vide order dated December 2, 2020 sanctioned Scheme of Arrangement (the Scheme') of Marico Consumer Care Ltd (MCCL) (Subsidiary of Marico Ltd) with effective date as April 1, 2020 with the holding company. On May 23, 2022, Company acquired 53.98% equity stake in HW Wellness Solutions Private Limited (True Elements) and True Elements became a subsidiary of the Company. During FY 2023, Beauty X Joint Stock Company, Vietnam, became a Wholly Owned Subsidiary of Marico South-East Asia Corporation (MSEA), by acquiring MSEA on January 31, 2023. Consequently, Beauty X became a step-down wholly owned subsidiary of the Company. On July 4, 2022 and November 11, 2022, Company acquired additional equity stake of 4.14% and 3.48% respectively in Apcos Naturals Private Limited, thereby increasing the total equity stake from 52.38% to 60%. In FY23, Company launched 14 New Products in Saffola Masala Oats, Saffola Munchiez, Saffola Soya, Saffola Honey, Saffola Mayonnaise, Saffola Fittify, Saffola Immuniveda and Prachute Advance Product Range.

Marico Ltd Chairman Speech

BUILDING THE MARICO OF tomorrow

Our commitment towards a sustainable world has now transformed into a much larger and ambitious vision as we embark upon the ‘Sustainability 2.0' journey, launched on June 5, 2022, commemorating the 50th anniversary of World Environment Day (led by the United Nations Environment Programme).

Dear Shareholders,

It is a great privilege to present to you the fifth Integrated Annual Report for your Company for the financial year 2022-23. As we reflect on fiscal year 2022-23, your Company has delivered a fairly resilient performance in a rather challenging business environment. Escalating geo-political tensions, volatile commodity prices, inflationary pressures and rising interest rates marked the operating environment during the year. Consequently, the FMCG sector grappled with a subdued demand sentiment, which was even more pronounced in rural consumption trends. However, with inflation moderating and commodities stabilising gradually in the latter half of the year, some green shoots of recovery have emerged as overall FMCG sector volume growth moved into positive territory in the last quarter of the fiscal year after five consecutive quarters of decline.

Over the last few years, there have been notable, and probably, lasting shifts in consumer behaviour and preferences such as much faster adoption of the digital medium for shopping, entertainment and making payments, heightened focus on health and wellness and stronger push towards sustainable and ethically-produced products. Your Company continues to prioritise the needs and preferences of consumers, to be able to create long-term relationships, build trust and foster loyalty, which are crucial levers for succeeding in today's highly competitive and dynamic market. We constantly endeavour to understand and meet the expectations of our consumers through innovative and effective products that enhance their lives and provide a delightful experience. Notwithstanding recent trends, we remain confident of India's robust consumption story and believe that an evolving and strengthening portfolio, coupled with a consumer-centric approach, will enable your Company to drive sustainable value creation for all stakeholders.

Sustainability – A way of life

Your Company has always been a firm believer of creating value for the society by building solutions to its challenges. Sustainability lies at the centre of our business strategies while we aim to create shared value for all. As I had alluded to in my last letter, we were able to surpass the ambitious five-year targets set across various environmental, social and governance (ESG) parameters up to FY22. Our commitment towards a sustainable world has now transformed into a much larger and ambitious vision as we embark upon the ‘Sustainability 2.0' journey, launched on June 5, 2022, commemorating the 50th anniversary of World Environment Day (led by the United Nations Environment Programme). The Sustainability 2.0 framework comprises over 50 key performance indicators across eight materially relevant categories and serves as a launchpad to achieve our Decade of Action (2030) vision and purpose. The eight focus areas of the Sustainability 2.0 journey are Net Zero Emissions, Water Stewardship, Circular Economy, Responsible Sourcing, Responsible Brands, Inclusion and Diversity, Sustainable Agriculture and Human Rights & Ethics. Your Company is committed to achieve ‘net zero emissions' in its domestic operations by 2030 and global operations by 2040. To ensure your Company's successful transition to a net-zero, carbon neutral and climate resilient future, it will drive faster adoption of renewable energy, low-carbon technology, carbon forestry and completely phase-out fossil fuels from its operations.

India is one of the most water-stressed countries in the world, and therefore, judicious use of water by all is a key responsibility to ensure there is enough supply for community usage and agriculture. We are aiming for certified water-neutral operations in all manufacturing facilities. To achieve this, we have developed a long-term plan until 2030 to replenish more water for communities than we consume. Under ‘Jalashay' our water stewardship programme, we have created over 290 Crore litres of water conservation capacity pan- India till date, especially around our manufacturing locations and key sourcing areas of our raw materials. Plastic waste management has become one of the most pressing environmental issues of today and solving it requires an enabling ecosystem with stakeholders collaborating and devising innovative solutions. Under ‘Upcycle', an initiative towards perpetuating a circular economy, your Company aims to achieving 100% recyclable packaging by 2025 (95% so We are aiming for certified water-neutral operations in all manufacturing facilities. To achieve this, we have developed a long-term plan until 2030 to replenish more water for communities than we consume.

Our sustainability efforts have received appreciation in various forums during the year. Marico was among 25 companies in the Asia-Pacific region to be honoured at the prestigious Steward Leadership Summit for its efforts in equipping farmers with sustainable agriculture methods.

far), phase out hazardous substances such as PVCs, and introduce at least 30% r-PCR in its packaging portfolio. We continue to fulfil 100% of our Extended Producers' Responsibility (EPR) targets. Your Company strongly believes in purpose-driven brands that not only delight consumers but also contribute positively to the community at large. Under the ‘Parachute Kalpavriksha' initiative, we work towards improving small-scale farmers' productivity. Since its launch, the program has expanded its reach to 3,11,000 acres of farms and 81,000 farmers, leading to 16% yield improvement for those who have participated in the program for over a year. The brand, Nihar Naturals Shanti Amla, continues to champion the cause of progress and nation building by contributing a part of its profits towards girl child education. The ‘Nihar Shanti Pathshala Funwala' programme focuses on upskilling and empowering teachers in government schools. Over 3 lakh teachers have been trained through a mix of workbook-led and digitally enabled English literacy courses and more than a million students have benefitted from the programme. We continue our work towards nurturing brands, which are powerful agents of change, driving innovation, sustainability and social progress. Marico Innovation Foundation (MIF), a not-for-profit organization set-up in 2003, supports disruptive innovations in businesses and social sectors in India. Driven by a commitment to make a progressive impact, MIF works tirelessly to provide assistance to potential game changing innovations along their growth journey. Over the past two decades, MIF has grown to be a torchbearer of innovation having been associated with 100+ ideas through various programs and themes. In January 2023, MIF also announced the launch of the first of its kind playbook, titled Innovation in Plastic: The Potential and Possibilities, which analyses and provides holistic insights on the potential solutions to address the swelling global challenge that plastic waste presents, by throwing a spotlight on 15 innovations in India that are working towards solving it. The Report, developed in collaboration with two knowledge partners, Indian Institute of Science (IISc) and Praxis Global Alliance, also highlights learnings from past innovations and initiatives undertaken at the international, national, corporate, and city level to support circularity in plastics. Our sustainability efforts have received appreciation in various forums during the year. Marico was among 25 companies in the Asia-Pacific region to be honoured at the prestigious Steward Leadership Summit for its efforts in equipping farmers with sustainable agriculture methods. I am also pleased to share that Marico was the only company in the FMCG sector to feature in the ‘Leadership' category in CRISIL's Sustainability Yearbook 2022. The Economic Times felicitated your Company as the Corporate Citizen of the Year 2023 in recognition of its initiatives and commitment to delivering value for society.

People-first philosophy a key ingredient for longevity

Trust, ownership, innovation, inclusion and collaboration are key tenets that form the bedrock of our culture. We have always imbibed a ‘people-first' approach, which has guided us towards achieving positive outcomes and meet our business objectives, holding firm even during unprecedented levels of uncertainty that we have witnessed in the operating environment over the last three years. During the year, we continued our efforts to develop a future-ready talent pipeline where the major focus has been to empower our home-grown talent through bespoke learning interventions and internal movements, thereby, transforming them into ‘leaders of tomorrow'. We have also taken significant steps in our journey towards fostering Inclusion and Diversity through consistent evolution in our policies, processes and infrastructure, as we create a conducive growth environment for all and build organizational resilience.

ForwardTogether–Building Marico for the future

In current times, the business landscape is in a constant state of flux and it is imperative for companies to evolve and adapt to changing market conditions and consumer trends. I believe that organizations, which embrace digital technologies, focus on innovation by incorporating a culture of creativity, ingrain sustainability considerations in business strategies and foster a culture of learning, are most likely to create long-term value for its stakeholders. As we aim to become a leading FMCG multinational in each of the chosen emerging markets of Asia and Africa, we remain focused on accelerating our portfolio diversification, strengthening our distribution infrastructure, leveraging advanced digital technologies and empowering our people. Your Company will continue its steadfast commitment to propel the levers of growth across its diverse product portfolio and markets, while maintaining a long-term perspective on sustained growth and competitive advantage. The Board has continued to exhibit an unwavering commitment to your Company's mission to drive growth and innovation, while upholding the highest standards of corporate governance. I continue to act as the Non-Executive Chairman of the Board, while Saugata continues to lead your Company's strategic growth initiatives. I also continue to lead efforts to improve the collective functioning of the Board and am actively involved in your Company's CSR initiatives. I am pleased to welcome Mr. Rajan Bharti Mittal as an Independent Director on the Board. Mr. Mittal brings with him an astute business acumen and a fresh perspective through which I am sure your Company will greatly benefit. I want to express my heartfelt appreciation to the Board for their ongoing engagement and guidance and to our shareholders for placing their unfettered faith in Marico. I am grateful for the steadfast commitment of our members, even amidst fairly challenging times. I would also like to express my sincere gratitude towards all our business partners, vendors and associates for their sustained support as we continue to chart our way forward towards building a future-focused Marico. Warm regards,

Harsh Mariwala

Chairman

   

Marico Ltd Company History

Marico Limited, headquartered in Mumbai, Maharashtra, carries on business in branded consumer products. Marico manufactures and markets products with the brands such as Parachute, Parachute Advansed, Nihar, Nihar Naturals, Saffola, Hair & Care, Revive, Mediker, Livon, Set-wet, etc. The Company's products reach its consumers through retail outlets serviced by its distribution network comprising regional offices, carrying & forwarding agents, redistribution centers & distributors spread all over India. Marico Limited (ML), a leading Fast Moving Consumer Goods (FMCG) player was incorporated on 13th October 1988 under the name of Marico Foods Limited. The name of the company was changed from Marico Foods Limited to Marico Industries Limited with effect from 31st October of the year 1989. During the same year 1989, in December, the company had entered into an agreement with M/s. Rasoi Industries Limited for purchase of its unit located at M.I.D.C. Industrial Estate, Jalgaon. After a year, in 1990, ML made a Registered Users Agreement with Bombay Oil Industries Ltd (BOIL) for the use of the brands Parachute and Saffola for an initial period of 3 years commenced from 1st April of the same year. The Company established a new plant at Kanjikode, Palghat District of Kerala to manufacture Parachute Coconut Oil with capacity of 24000 tonnes of coconut oil per annum, began commercial operation in May of the year 1993. During the year 1995, ML had acquired the Brand SIL' from KFL for the consideration of Rs 3 crores. Marico had extended its Sweekar oil brand during the year 1997, by the way of two new refined oils entry namely Sweekar cotton seed oil and Sweekar mustard oil. In the identical year of 1997, the company had set up a factory near Jalgaon to process the cotton seeds and another factory near Jaipur for the mustard oil. The Company made the join venture between a Lever group company and Nissin of Japan in the year 1998, and its products were distributed through HLL's channels. During the year 2000, the company made a tie up with the International Association of Trichologists (IAT), a non-profit organisation based in Australia. In the identical year, ML had launched Parachute Dandruff Solution Coconut Hair Oil in Calcutta, the first oil to combine coconut oil with antidandruff properties in single hair oil. After a year, in 2001, the company had introduced the Revive Anti-Bacteria starch. Marico had acquired a controlling equity interest in Sundari LLC during the period of 2003. High Court of Judicature at Bombay approves the Scheme of Amalgamation of Anandita Arnav Trading & Investment Private Ltd, Madhav Nandini Trading & Investment Private Ltd, Rajvi Rishabh Trading & Investment Private Ltd and Rishabh Harsh Trading & Investment Private Ltd with the company on 12th February 2004. In the same year of 2004, the company had forayed into the beauty products segment with the launch of Silk-n-Shine, a post-wash hair care product. During the year 2006, Marico had acquired Hindustan Lever Limited's Nihar for the consideration of Rs 216 crores. In October of the year 2007, the company had entered into the South African ethnic hair care and health care market. Marico acquired the consumer division of Enaleni Pharmaceuticals, through purchase of 100% shares in Enaleni Pharmaceuticals Consumer Division (EPCD), an Enaleni subsidiary. ML had divested of its processed foods business, Sil' to a Danish business house, Good Food Group in March of the year 2008. The transaction, for an undisclosed consideration envisages a sale of Mario's Sil business to the Indian subsidiary of Good Food Group A/S, Scandic Food India (Scandic). In 2009, Marico made a public offering of equity in Bangladesh in a first for one its overseas subsidiaries. In 2010, Marico began its South East Asia journey with the launch of Code 10, a male grooming brand, in Malaysia and Derma Rx skin care solutions in Singapore. In India, Saffola launched Masala oats as breakfast food during the year. In 2011, Parachute Advanced entered the skin-care category with the launch of Parachute Advanced Body Lotion (PABL). During the year, Parachute Gold Hair Cream was launched in the Middle East market targeted to women. On 18 February 2011, Marico announced that it has acquired 85% equity stake in International Consumer Products Corporation (ICP), one of the most successful Vietnamese FMCG companies, for an undisclosed consideration. ICP was founded, in 2001, by Dr. Phan Quoc Cong and his partner. ICP achieved a turnover of a little over USD 25 million during the calendar year 2010. Its brands X-Men, L'Ovite, Thuan Phat and others have a significant presence across personal care, beauty cosmetics and sauces/condiments categories. On 25 March 2011, Marico Group announced the divestment of its refined sunflower oil brand Sweekar' to Cargill India Private Limited (Cargill). The transaction, for an undisclosed consideration, envisages an assignment of the Sweekar trademark and copyrights from Marico to Cargill. On 15 February 2012, Marico announced that it has executed documents to acquire Set Wet, Livon, Zatak and certain other personal care brands currently owned by Reckitt Benckiser (RB). RB had acquired these brands from Paras Pharmaceuticals in a deal completed during April 2011. The transaction envisages transfer of all key assets including intellectual property rights, supply agreements and third party manufacturing agreements (Paras PC business), for an undisclosed consideration. These assets are in the process of being transferred to a separate company in which Marico will acquire 100% shares. The Paras PC business is expected to achieve a turnover of over Rs 150 crore during FY 2012. Brands in the portfolio are amongst the top three positions in the hair gels, male deodorant and leave-on hair serum categories. This acquisition gives Marico an opportunity to participate in the rapidly growing deodorant and male grooming categories in India. The Board of Directors of Marico at its meeting held on 6 April 2012 considered, approved and recommended a proposal to issue and allot 2.94 crore equity shares at issue price of Rs 170 per share aggregating Rs 500 crore on preferential basis to Indivest Pte Ltd, an affiliate of Government of Singapore Investment Corporation Pte Ltd (GIC), and Baring India Private Equity Fund III Listed Investments Limited. The Board of Directors of Marico at its meeting held on 7 January 2013 approved demerger of the Kaya skin care solutions business into a separate company which will be named Marico Kaya Enterprises Limited (MaKE) or any such other name as may be approved by the Registrar of Companies. The business undertaking of Kaya housed in Marico Limited, comprising investment in equity of Kaya Limited, related IPRs, employee contracts and cash and bank balances will be demerged into MaKE through a High Court approved Scheme of Arrangement, subject to approvals by the shareholders and creditors and lenders in Marico Limited. As a consideration, the shareholders of Marico Limited as on the record date, shall be issued 1 share of MaKE with a face value of Rs 10 each to be issued at a premium of Rs 200 per share for every 50 shares of Marico with a face value of Re 1 each. On 25 October 2013, Marcio announced that it has decided to stop production at its manufacturing plant at Ponda in Goa. This unit was set up in 1997 for manufacture and packaging of pure coconut oil. Due to input material supply and logistic dynamics that changed over the year, the operations at the plant became commercially unviable. The company has decided to close the plant in due course for which initial preparatory steps are being taken. With effect from 21 November 2013, Marico stopped manufacturing activities at its Dehradun Camp Road plant and initiated for a closure of the plant. This plant was set up in 2003 for manufacture of cosmetics. On 14 January 2014, credit rating agency CRISIL upgraded its ratings on the long-term debt instruments, and long-term bank facilities of Marico to 'CRISIL AA+/Stable' from 'CRISIL AA/Positive', and reaffirmed its rating on the short-term debt programme and short-term bank facilities at 'CRISIL A1+'. The rating upgrade reflects CRISIL's expectation of improvement in Marico's business risk profile over the medium term driven by increasing revenue diversity and dominant market position in branded coconut oil, value added hair oil, and premium refined edible oil segments. The Board of Directors of Marico at its meeting held on 4 November 2015 recommended the issue bonus shares in the ratio of 1:1 i.e. one fully paid-up equity share of Re. 1 each for every one existing fully paid-up equity share of Re. 1 each held in the company. On 27 May 2016, Marico announced that the commercial production for manufacturing of value added hair oils has successfully commenced at its newly set up plant in Guwahati, Assam. Marico's second plant in Guwahati, Assam set up to manufacture value added personal care products successfully commenced commercial production on 16 March 2017. On 17 March 2017, Marico announced a strategic investment in Zed Lifestyle Private Limited with an acquisition of 45% equity stake for an undisclosed consideration. The equity stake shall be acquired over a period of two years, through primary infusion and secondary buy-outs. Zed Lifestyle owns Beardo, a fast growing male grooming brand founded by entrepreneurs Ashutosh Valani and Priyank Shah in June 2016 in Ahmedabad, India. Marico views this investment in Zed Lifestyle as a stepping stone towards its ambition of strengthening its presence and widening its portfolio in the male grooming market. On 28 July 2017, Marico South Africa Pty. Limited (MSA), a wholly owned step-down subsidiary of Marico announced the acquisition of business including related intellectual property rights of ISOPLUS, a leading hair styling brand in South Africa from JM Products SA Pty. Limited and Ms. Mary L Harris, its owner for a consideration of 75 million South African Rand (about Rs 36 crore) at a revenue multiple of 1.2. The strategic buyout will enable MSA to become a full spectrum ethnic hair care company in South Africa. The acquisition comprises purchase of manufacturing facilities, working capital and all intellectual property rights owned by JM Products and Ms. Mary L Harris. On 7 March 2018, Marico announced that it has exited Bellezimo Professionale Products Private Limited (Bellezimo) by selling back its entire 45% equity stake in the company to the promoters of Bellezimo for a total consideration of Rs 1.60 crore. Bellezimo is engaged in marketing skin care products to cater to Salons channel. The capital expenditure in FY2018 was Rs 128 crore (USD20 million). During the FY2019,the company entered into Shareholders' Agreement and share subscription agreement with Revolutionary Fitness Pvt Ltd(Revofit) and acquired 22.46% of its equity stake. Consequently Revofit became an associate company of Marico. During the FY2020,the company spent Rs 194 crore towards capital expenditure(CAPEX) for capacity expansion and maintenance of existing manufacturing facilities. The Ministry of Home Affairs vide order No.40-3/2020 dated 24.03.2020 notified first ever nationwide lockdown in India to contain the outbreak of COVID 19. As a result, the operations were temporarily disrupted at manufacturing, warehouse and distribution locations of Marico India. Further, International businesses were also temporarily disrupted with many of the territories experiencing partial or complete lockdown in the last week of March 2020. On 30 June 2020, the Company has acquired the remaining 55% stake in ZED Lifestyle Private Limited (which was earlier a Joint Venture) and converted it into a wholly owned subsidiary. During the quarter ended 30 September 2020, the Company has sold its entire stake in 'Revolutionary Fitness Private Limited' and 'Hello Green Private Limited' (Joint Ventures). The National Company Law Tribunal at Mumbai Bench has, vide order dated December 2, 2020 sanctioned Scheme of Arrangement (the Scheme') of Marico Consumer Care Ltd (MCCL) (Subsidiary of Marico Ltd) with effective date as April 1, 2020 with the holding company. On May 23, 2022, Company acquired 53.98% equity stake in HW Wellness Solutions Private Limited (True Elements) and True Elements became a subsidiary of the Company. During FY 2023, Beauty X Joint Stock Company, Vietnam, became a Wholly Owned Subsidiary of Marico South-East Asia Corporation (MSEA), by acquiring MSEA on January 31, 2023. Consequently, Beauty X became a step-down wholly owned subsidiary of the Company. On July 4, 2022 and November 11, 2022, Company acquired additional equity stake of 4.14% and 3.48% respectively in Apcos Naturals Private Limited, thereby increasing the total equity stake from 52.38% to 60%. In FY23, Company launched 14 New Products in Saffola Masala Oats, Saffola Munchiez, Saffola Soya, Saffola Honey, Saffola Mayonnaise, Saffola Fittify, Saffola Immuniveda and Prachute Advance Product Range.

Marico Ltd Directors Reports

Marico Ltd Company Background

Harsh MariwalaSaugata Gupta
Incorporation Year1988
Registered Office7th Floor Grande Palladium,175 CST Rd Kalina Santacruz(E)
Mumbai,Maharashtra-400098
Telephone91-022-66480480,Managing Director
Fax91-022-26500159
Company SecretaryMandyam Anandampillai Vinay
AuditorB S R & Co LLP
Face Value1
Market Lot1
ListingBSE,MSEI ,NSE,
RegistrarLink Intime India Pvt Ltd
C-101 247 Park,L B S Marg,Vikhroli West,Mumbai-400083

Marico Ltd Company Management

Director NameDirector DesignationYear
Harsh MariwalaChairman (Non-Executive)2023
Nikhil KhattauLead Independent Director2023
Rajen MariwalaNon-Exec & Non-Independent Dir2023
Hema RavichandarIndependent Director2023
Saugata GuptaManaging Director & CEO2023
Rishabh MariwalaNon-Exec & Non-Independent Dir2023
Ananth NarayananIndependent Director2023
Rajeev VasudevaIndependent Director2023
APURVA PUROHITIndependent Director2023
Nayantara BaliIndependent Director2023
Milind BarveIndependent Director2023
Mandyam Anandampillai VinayCompany Sec. & Compli. Officer2023
Rajan Bharti MittalIndependent Director2023

Marico Ltd Listing Information

Listing Information
BSE_500
BSE_FMCG
BSE_100
BSE_200
BSEDOLLEX
NIFTYJR
CNX500
CNX100
CNX_FMCG
CNXCONSUMP
CNX200
BSECARBONE
NFT100EQWT
BSEALLCAP
BSELARGECA
NFTQULTY30
SENSNEXT50
ESG100
LMI250
BSEDSI
NFT100LV30
BSE100LTMC
NFTYLM250
NFTY100ESG
NFTY200Q30
NF500M5025
NFTYTOTMKT

Marico Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Edible Oil RefiningMT0004602
Hair OilsKL0001690
Others-TradedNA000700
Personal Care ProductsNA000412
Govt Grant/Budgetary SupportNA00065
Scrap salesNA0009
By productsNA0000
Oil Seeds-TradedMT0000
Excise DutyNA0000
Service Income-CommissionNA0000
Other Operating RevenueNA0000
OthersNA0000
Personal Care Product-TradedNA0000

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