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Marico announced the resignation of Sanjay Mishra, COO – India Business and CEO New Business on 11 September 2023. His last date of working will be 15 December 2023. The company has appointed Vaibhav Bhanchawat, who is currently an SMP and designated as Chief Operating Officer – South East Asia& South Africa, as Chief Operating Officer – India & Foods Business w.e.f. 01 October 2023 and will be responsible for Sales, Manufacturing, Supply Chain and Foods Business in India. Ashish Goupal, who is currently an SMP and designated as Chief Operating OfficerMarico Bangladesh, MENA & New Country Development (NCD), will take on the responsibility of leading all international geographies of Marico including South East Asia and South Africa w.e.f. 01 October 2023 and will be designated as CEOInternational Business. 

Marico announces changes in senior management 

Sanjay Mishra, chief operating officer (COO) – India Business and CEO New Business, has decided to pursue an opportunity outside the organization and consequently tendered his resignation on 11 September 2023. His last date of working will be 15 December 2023, subject to service rules of the company.Vaibhav Bhanchawat, who is currently an senior management programme (SMP) and designated as chief operating officer – South East Asia & South Africa, will move as chief operating officer – India & Foods Business with effect from 1 October 2023 and will be responsible for sales, manufacturing, supply chain and foods business in India.Ashish Goupal, who is currently an SMP and designated as chief operating officerMarico Bangladesh, MENA & New Country Development (NCD), will take on the responsibility of leading all international geographies of Marico including South East Asia and South Africa with effect from 1 October 2023 and will be designated as CEOInternational Business.Marico is one of Indias leading consumer products companies in the global beauty and wellness space. Its portfolio includes brands such as Parachute, Saffola, Saffola FITTIFY Gourmet, Saffola ImmuniVeda, Saffola Mealmaker, Hair & Care, Parachute Advansed, Nihar Naturals, Mediker, Coco Soul, Revive, Set Wet, Livon and Beardo.Marico reported 15% increase in consolidated net profit to Rs 427 crore in Q1 FY24 as compared with Rs 371 crore in Q1 FY23. Revenue from operations fell 3.2% in Q1 FY24 as against Rs 2477 crore posted in corresponding quarter last year.The scrip fell 0.54% to Rs 583.40 on the BSE. The counter hit 52 week high at Rs 591.70 in intraday today.

Marico announces shuffle in top management  

Marico has allotted 76,760 equity shares under ESOP on 29 August 2023. With this allotment, the paid up equity share of the company has increased to 1,29,34,05,278 equity shares of Re. 1 each aggregating to Rs. 1,29,34,05,278. 

Marico allots 76,760 equity shares under ESOP 

Dabur is one of many traditional brands that is looking for a slice of the D2C market. Analysts say that even big brands will eventually need unique products and the ability to stay in this market segment over the long term.

D2C surge: Traditional brands pivot for next-gen wallet share

Motilal Oswal is bullish on Marico recommended buy rating on the stock with a target price of Rs 690 in its research report dated July 30, 2023.

Buy Marico; target of Rs 690 : Motilal Oswal

Sharekhan is bullish on Marico has recommended buy rating on the stock with a target price of Rs 645 in its research report dated July 28, 2023.

Buy Marico; target of Rs 645: Sharekhan

Marico's revenue from operations fell 3 percent year-o-year in Q1, however, brokerages remain bullish on the stock.

Marico shares fall 2% on lower Q1 topline, but brokerages remain bullish

Marico wants to reduce its dependency on edible oils as it is an extremely volatile commodity which can be unpredictable in pricing and supply.

Marico expects food products to outweigh edible oils portfolio by 2027

Marico Consolidated June 2023 Net Sales at Rs 2,477.00 crore, down 3.17% Y-o-Y

Marico Ltd. engages in the provision of beauty and wellness space products and services. It operates through the India and International geographical segments. The brand portfolio of the firm includes Livon, Parachute Advansed, Set Wet, and Saffola. The company was founded on April 2, 1990 and is headquartered in Mumbai, India.

Watchers	200
52-Wk Low	462.70
52-Wk High	591.75

Market Cap	724.05B
Volume (M)	765,205.00
52-Wk High	591.75
52-Wk Low	462.70

MARICO.NSE Marico Ltd.

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