Marico Limited is one of India's leading consumer products companies operating in the beauty and

wellness space. Currently present in 25 countries across emerging markets of Asia and Africa
Marico has nurtured multiple brands in the categories of hair care skin care edible oils health foods
male grooming and fabric care. Marico's India business markets household brands such as
Parachute Parachute Advansed Saffola Hair & Care Nihar Nihar Naturals Livon Set Wet Mediker
and Revive among others. The International business offers unique brands such as Parachute
HairCode Fiance Caivil Hercules Black Chic Isoplus Code 10 Ingwe X-Men and Thuan Phat that are
localized to fulfil the lifestyle needs of international consumers.

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.