History of Marico

_x000D_ Marico Limited (ML) is a leading Fast Moving Consumer Goods (FMCG) player, incorporated on October 13, 1988, then under the name of Marico Foods Ltd. In 1990, ML made an agreement with Bombay Oil Industries Ltd (BOIL) to obtain the right to use the brands Parachute and Saffola. In 1993, the company began commercial operations to manufacture Parachute Coconut Oil at a new plant at Kanjikode in Palghat, Kerala. In 1997, the company set up a factory near Jalgaon to process cotton seeds and another factory for mustard oil near Jaipur._x000D_ _x000D_ In 2004, the company entered the beauty products segment with the launch of Silk-n-Shine, a post-wash hair care product. In 2006, Marico acquired Hindustan Lever Ltd's Nihar for ₹216 crore. In 2010, Marico commenced its South East Asia presence with the launch of Code 10, a male grooming brand in Malaysia and Derma Rx skin care solutions in Singapore._x000D_ _x000D_ On February 15, 2012, Marico announced its acquisition of Set Wet, Livon, Zatak and certain other personal care brands previously owned by Reckitt Benckiser (RB). In 2018, the company launched its first digital exclusive brand, Studio X. In 2019, Marico Limited partnered with Future Retail Limited to launch Plastic Recycling Program. In association with the Government of Maharashtra, it also created over 660 million litres of water capacity in Jalgaon._x000D_

Marico Business Segments

_x000D_ The company’s product portfolio includes the following categories along with their brands:_x000D_

_x000D_
1. Coconut Oil - Brands in this category include Parachute and Nihar Naturals.
_x000D_
2. Super-premium refined edible oils - This category is covered by the edible oil brand Saffola.
_x000D_
3. Value-added hair oils - Brands in this category include Parachute Advanced, Nihar Naturals, Hair & Care.
_x000D_
4. Healthy foods - Saffola oats, Coco Soul. Coconut oil, Saffola FITTIFY Gourmet Range.
_x000D_
5. Premium Personal Care - This includes male grooming products like Set Wet, Beardo, and Parachute, skin care products like Kaya Youth and Parachute Advanced, hygiene products like Mediker, Veggie Clean and other products like Livon Serums and Hair & Care.
_x000D_

_x000D_ In FY 2023, around 75% of the total consolidated revenues were generated from domestic business. In the domestic market, coconut oils accounted for 37% of the total revenues, followed by refined oils at 23%, food at 8%, value-added hair oils at 22%, and personal care products at 7%. _x000D_ _x000D_ The remaining 25% of the total consolidated revenues were generated from international business. In FY 2022, top export countries are Bangladesh (51% of export revenues), followed by South East Asia (23%), Middle East (13 %), and South Africa (7%)._x000D_

Marico Subsidiaries

_x000D_ As of March 31, 2023, the company has 19 subsidiaries, such as:_x000D_

_x000D_
1. Beauty X Joint Stock Company: Beauty X Joint Stock Company is a female haircare and skincare company which owns female personal care brands Purité de Provence and Oliv.
_x000D_
2. Parachute Kalpvriksha Foundation provides training in scientific and sustainable farming to Indian farmers. 
_x000D_
3. Marico Middle East FZE and Marico South Africa (Pty) Limited are for regional operations of Marico.
_x000D_

_x000D_

Marico Management Team

_x000D_ Saugata Gupta, Managing Director & Chief Executive Officer_x000D_ _x000D_ Mr. Gupta joined Marico in 2004 as the Head of Marketing and was promoted to the post of CEO of the India Business in 2007. In 2014, he took over as Managing Director of the company. During his tenure, Marico’s market capitalisation crossed over USD 8 billion in 2021, and recorded a turnover of over USD 1 billion in FY 2020-21._x000D_

Marico Corporate Actions

_x000D_ The following are the major corporate actions undertaken by the company:_x000D_ _x000D_ Stock Split_x000D_ _x000D_ The company split its stock in February 2007 from ₹10 to ₹1 per share._x000D_ _x000D_ Bonus Issue_x000D_ _x000D_ The company gave bonus shares at a 1:1 ratio for the record date of December 24, 2015._x000D_ _x000D_ Mergers and Acquisitions_x000D_

_x000D_
• In March 2017, Marico announced a strategic investment in Zed Lifestyle Private Limited, owner of Beardo, with an acquisition of a 45% equity stake for an undisclosed consideration. It bought the remaining 55% in 2020.
_x000D_
• On May 23, 2022, the company acquired a stake of 53.98% 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 of Vietnam became a wholly-owned subsidiary of Marico South-East Asia Corporation (MSEA).
_x000D_
• On July 4, 2022, and November 11, 2022, the company bought additional equity stakes of 4.14% and 3.48%, respectively, in Apcos Naturals Private Limited, thereby expanding the total equity stake from 52.38% to 60%.
_x000D_