Page 8 - Marico

Marico reappoints Saugata Gupta as MD, Rajan Mittal joins as Ind Director

FMCG major Marico on Friday said its board has re-appointed Saugata Gupta as its Managing Director and Chief Executive Officer for another term of two years. Gupta's reappointment is effective from April 1, 2024. The board of Marico, in its meeting held on Friday, approved "re-appointment of Saugata Gupta as the Managing Director & Chief Executive Officer for a term of two years w.e.f. April 1, 2024 to March 31, 2026." He had joined Marico in 2004 as the Head of Marketing and was elevated to CEO of India Business in 2007. In 2014, he took over as Managing Director of the company. Besides, the company's board has appointed Rajan Bharti Mittal as an independent director for a term of five years, beginning from July 1, 2023 to June 30, 2028. Mittal is the Vice-Chairman of Bharti Enterprises, one of India's leading conglomerates with diversified interests in Telecom, Space Communications, Digital Solutions, Financial Services, Real Estate, Agri-Processed foods in addition to other ...

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Campus Activewear acquires land, building from Marico Industries in HP

Sports and athleisure footwear company Campus Activewear on Wednesday said it has acquired land parcel and a building from FMCG major Marico Industries Ltd in Paonta Sahib, Himachal Pradesh. The all-cash deal was worth Rs 16.70 crore. The deal will help Campus Activewear to expand its capacity for the manufacturing of semi-finished goods (sole and /or upper) and assembly of footwear. This will be financed "partly through Term Loan and Internal Accruals," it said in a regulatory filing. This will help in "capacity expansion to meet business growth and increased backward integration". This capacity expansion would be done within one-and-a-half years from April 2023. In FY22, Campus Activewear's revenue was at Rs 1,194.18 crore.

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Marico's consolidated revenue grew in low single digits in Jan-Mar quarter

India business volume growth improved slightly over the preceding quarter, staying in mid-single digits

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Saffola a Rs 2,000 crore-plus brand; worst of inflation is over: Marico CEO

Saffola, the master brand under which Marico offers healthier food options, is now worth Rs 2,000 crore-plus, said Marico MD & CEO Saugata Gupta. About inflation, Gupta told PTI the "worst" is behind and he sees a gradual recovery for the FMCG (Fast Moving Consumer Goods) segment with rural market making a comeback. The rural FMCG market, which has witnessed a decline in the last 4-5 quarters, is expected to have a turnaround in the next 2-3 quarters, he said. "I think the worst is behind," said Gupta, adding, "Overall for FMCG, we see a gradual recovery, but that has to be led by rural. Urban has been decent." At the industry level, food continues to do well and HPC (home and personal care) category is struggling a bit. This is because, last year, there was significant inflation, he said. As inflation eases, now he expects "better margins" in top-line and said the urban market and modern trade channels are recovering and going back to pre-Covid levels while the general trade is .

Marico Q3 net profit rises 5% to Rs 333 cr; revenue up 2.6% to Rs 2,470 cr

Home-grown FMCG major Marico Ltd on Friday reported a 5.04 per cent increase in consolidated net profit at Rs 333 crore in the third quarter that ended December 31, 2022. The company had posted a net profit of Rs 317 crore in the October-December quarter a year ago, Marico said in a regulatory filing. Its revenue from operations was at Rs 2,470 crore, up 2.61 per cent during the quarter under review, as against Rs 2,407 crore a year ago. In the third quarter of FY23, revenue from operations grew "with underlying volume growth of 4 per cent in the domestic business and constant currency growth of 8 per cent in the international business," said Marico in an earnings statement. Marico's total expenses were at Rs 2,067 crore, up 2.22 per cent in the third quarter of this financial year. Its revenue from the domestic market was up 1.87 per cent to Rs 1,851 crore in the third quarter of FY23. It was Rs 1,817 crore a year ago. "During the quarter, the FMCG sector in India showed some s

Higher sales growth for Marico contingent on rural demand recovery

Brokerages have a mixed view on the stock; scale up of foods segment key for further gains

Sensex ends 304 pts lower at 60,353, Nifty below 18K; Bajaj Finance down 7%

CLOSING BELL: Broader markets, meanwhile, outperformed benchmark indices as Nifty MidCap 100 and Nifty SmallCap 100 indices rose up to 0.4 per cent

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Marico expands RTE portfolio with Saffola Munchiez ragi chips and makhana

The FMCG firm is tapping the increasing tribe of conscious, albeit indulgent modern consumers with this new on-the-go healthy snack brand

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Marico to acquire 100% stake in Vietnamese personal care brand Beauty X

To pay Rs 172 cr under the deal, which is expected to be completed by March 31

Marico to acquire Vietnamese personal care brands 'Purit de Prvence', 'liv'

Marico on Friday said it will acquire Vietnam-based Beauty X Corporation, which owns female personal care brands 'Purit de Prvence' and 'liv', in an all-cash deal for 493 Billion Vietnamese Dong (about Rs 172 crore). The move will help the homegrown-FMCG major to expand its presence in Vietnam. Its wholly owned subsidiary, Marico South-East Asia Corporation (MSEA) has entered into a definitive agreement to acquire 100 per cent of Beauty X Corporation, a firm which operates in the beauty and personal care space offering products such as shower gels, shampoos, conditioners, face wash and lotions among others. "The transaction will expand Marico's presence in the female personal care segment in Vietnam, with an offering of a range of premium and differentiated hair care and skin care products, while also realising various operational synergies," the company said. The transaction is expected to be completed by March 31, 2023, subject to requisite regulatory approvals and customary clos

Near-term growth concerns, further price cuts to cap returns for Marico

Further price cuts, higher advertising costs to weigh on margins

Marico slips 7% after profit drops 3% YoY to Rs 307 crore in Q2FY23

The personal products maker said that the decline in profit was mainly due to losses in translation of foreign currency receivables and higher effective tax rate (ETR)

Marico posts surprise drop in Q2 profit to Rs 301 cr as rural demand slips

Expenses climbed 4%, while revenue increased 3% to 24.96 billion rupees led by growth in international business

Marico expands plant-based protein portfolio with Saffola Soya Bhurji

Product launched in Bengal, Delhi and Mumbai across general trade; will be available pan-India in phases, and across modern trade and major e-commerce platforms as well

Sensex up 1,277 pts, ends above 58K; Nifty tops 17,250; banks, metals lead

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