Marico Ltd
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BSE Code:
531642
NSE Code:
MARICO
Business Profile
Business Profile
Marico (MARICO), incorporated on Oct. 13, 1988, is among the leaders in the fast moving consumer goods (FMCG) and services sector. Earlier known as Marico Foods, it got its present name with effect from Oct. 31, 1989.
The company`s business is consolidated under a group structure forming the three strategic business units of Consumer Products Business (India) including personal & nature care and wellness & new products; the International Business Group with International FMCG Business and Sundari Business; and Kaya (a wholly owned subsidiary of Marico) looking after Kaya Skin clinics and Kaya Life, its obesity control venture. The company manufactures and markets leading brands in consumer products like Parachute, Saffola, Mediker, Parachute Advansed, Parachute Jasmine, Parachute Aftershower, Parachute Therapie, Hair & Care, Revive, Sweekar, Shanti Badam Amla, Nihar, Starz, Manjal, and Oil of Malabar.
International Business Group (IBG) reaches out to more than 20 countries in the Middle East, Australia, USA and the Asian subcontinent. This has been achieved by establishing Marico Bangladesh, the third largest FMCG multinational company in Bangladesh dealing in the soap brands Camelia and Aromatic; acquisitions of the brands Fiancee and Hair Code in Egypt; distribution of Parachute Hair Oil and Parachute Hair Creams in the Middle East, acquiring the consumer division of Enaleni Pharmaceuticals in South Africa to form IBG South Africa dealing in three leading brands Caivil, Black Chic, and Hercules; and 100% stake in Sundari LLC, USA, the owner of the Sundari line of luxury ayurvedic skin care products, marking its first acquisition in a developed country and entry into the global ayurvedic segment with skin care products.
Kaya marks Marico`s entry into the skincare solutions business. For over five years, 57 skin clinics in 20 Indian cities, and nine in the Middle East have provided innovative, world-class treatments and services. To control obesity, the company launched its new initiative Kaya Life with three clinics in India. Over 350,000 customers have used services provided by Kaya. The Sundari range has distribution channels like super-premium outlets, specialty stores, Spa channels and internet for ayurvedic products and treatments, which are available at some of the leading spas in the US and worldwide like the Canyon Ranch, The Spa at The Broadmoor, The spa at Camelback Inn, among others.
Ranked as one of India`s most innovative companies by Business Today-Monitor Group Innovation Study and amongst one of eight Indian companies in Standard & Poor`s list of Global Challenger Companies in 2007, recent awards include Outstanding Marketing Achievement award (Silver) for Parachute at Gulf Marketing Review (GMR) Awards 2008. The company has manufacturing facilities in Goa, Kanjikode, Jalgaon, Saswad, Pondicherry, Dehradun, Daman, and Mouchak in Bangladesh. Marico Middle East FZE incorporated MEL Consumer Care SAE as a wholly owned subsidiary in Egypt, which in turn acquired Pyramids for Modern Industries (99%). With a widespread distribution network of more than 2.5 million outlets in India and overseas, the Marico group has crossed the Rs 19,000 million turnover mark in 2007-2008.
Financials
The company disclosed a good increase in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company rose 28.55% to Rs 517.17 million from Rs 402.30 million in the same quarter last year. Net sales for the quarter rose 20.94% to Rs 5,026.12 million, while total income for the quarter rose 20.24% to Rs 5,033.41 million, when compared with the prior year period. It reported earnings of Rs 0.85 a share during the quarter, registering 28.79% growth over prior year period.
Recent Developments
07-MAY-09
Rating agency CRISIL has assigned a credit rating of `AA/Stable` to the company`s Non-Convertible Debenture (NCD) Programme worth up to Rs 1 billion on Apr. 30, 2009.