Marico

Marico Limited
Public company (BSE: 531642)
Industry Consumer goods
Predecessor Bombay Oil Industries Limited (BOIL)[1]
Founded Bombay, Maharashtra, India (2 April 1990 (1990-04-02))
Founder Harsh Mariwala[2]
Headquarters Grande Palladium, 175, CST Road, Kalina, Santacruz, Mumbai, Maharashtra, India
Area served
 Worldwide
Key people
 Saugata Gupta[3]
Products Edible Oil, Hair Oils, Skin Care, Fabric Care etc.
Revenue ₹5,733.3 crore (US$800 million)[4]
Number of employees
 2402 (2016)
Website www.marico.com

Marico Limited is an Indian consumer goods company providing consumer products and services in the areas of Health and Beauty based in Mumbai.[5]

During 2015, the company generated a turnover of Rs. 5,733 crore.[6] Marico has 8 factories in India located at Pondicherry, Perundurai, Kanjikode, Jalgaon, Paldhi, Dehradun, Baddi and Paonta Sahib.

In Bangladesh, Marico operates through Marico Bangladesh Limited, a wholly owned subsidiary. Its manufacturing facility is located at Shirirchala, in Dhaka Division.817813

Brands

The organisation holds a number of brands including Kaya Limited, Parachute, Saffola, Hair&Care, Nihar, Mediker, Revive, Manjal, Livon, Set Wet, Zatak, Fiancee, HairCode, Eclipse, X-Men, Hercules, Caivil, Code 10 and Black Chic.

Parachute

Parachute is the flagship brand of Marico which consists of edible grade coconut oil. Marico manufactures and markets its coconut based hair oils under its popular brand – Parachute "Advansed" and a series of extensions thereof.

Parachute edible oil contains 100% coconut oil, whereas "Advansed" hair oils contain at least 50% mineral oil along with coconut oil.

Others

Marico's brands and their extensions occupy leadership positions with significant market shares in a number of health and beauty areas.

Saffola is essentially blended refined edible oil which is claimed to be beneficial for Heart health. It is marketed under the names of New Saffola, Tasty and Active. All of them contain blended vegetable oils in various proportions. The main type of oils which are blended include Rice Bran oil, Kardi oil or Safflower oil, Corn oil and Soya oil.


Marico has a significant presence in Bangladesh, South East Asia, Middle East, Egypt and South Africa. Marico reported a net profit of Rs 573 Crore in 2014-15[6]

Mineral oil in hair oil

Parachute "Advansed" hair oils contain 50% (v/v) to 80% (v/v) mineral oil, along with coconut oil.

Mineral oil is known to cause skin cancer.[7] Even though highly refined oils (classified as Group 3) are not suspected to be carcinogenic, available information is not sufficient to classify them as harmless.[8]

Marketing

Indian expatriates in the Middle East had been smuggling Parachute oil with them for their daily use when export of the oil was restricted prior to the 1991 economic liberalisation. Marico decided to try to sell products in that market after liberalisation, but found that Arab customers did not like the scent of coconut, wanted a less sticky hair product, and needed a product to counteract the high level of chlorination in their water. When Marico reformulated its product, its market share in the Middle east grew from 2% in 2002 to more than 20% by 2008.[9]

References

  1. ↑ "Bombay Oil Industries Limited: Sound logic behind revamp of family business". India Today. Retrieved 17 May 2018.
  2. ↑ "Harsh Mariwala, Marico". Outlook India. Retrieved 17 May 2018.
  3. ↑ "Harsh Mariwala steps down as Marico managing director - The Economic Times". Retrieved 28 August 2016.
  4. ↑ "Marico Limited". Retrieved 28 August 2016.
  5. ↑ "MARICO". MARICO. Retrieved 2010-07-16.
  6. 1 2 "Marico 2015 Annual Report" (PDF).
  7. ↑ "Cancer from mineral oil". British Medical Journal (22 November 1969). Retrieved 12 October 2018.
  8. ↑ International Agency for Research on Cancer (17 June 2011). "Agents Classified by the IARC Monographs, Volumes 1–102" (PDF). Lyon, France: International Agency for Research on Cancer. pp. 3, 19. Archived (PDF) from the original on 25 October 2011. Retrieved 11 November 2011.
  9. ↑ Kumar, Nirmalya (2009). India's Global Powerhouses. Harvard Business Press. pp. 136–8. ISBN 978-1-4221-4762-7.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.