Marico industries limited

MARICO INDUSTRIES LIMITED
Analysts' Meet
Marico FY 05 Turnover crosses Rs. 1000 crore,
Profit up 19 %, Declares Fourth Interim of 17.5 %
Marico’s focus on sustainable profitable growth has enabled it to cross the Rs. 1000 crore
turnover mark for FY 05. At Rs. 1013 Crore, turnover recorded a growth of 14% over FY
04. Profit before tax at Rs. 74.2 Crore grew by 14% and Profit after tax at Rs. 70.1 Crore
rose by 19%.
In the Domestic market, Parachute Coconut Oil, the flagship brand grew by 8% in
volume terms. Marico’s Coconut Oil franchise now enjoys an all-India market share of
over 50%. The Hair Care range (Parachute Jasmine, Shanti Amla, Mediker and Hair &
Care being the key elements) grew by a 14% in volume. In the Premium Refined Oils
market, the Saffola franchise clocked a record growth of 18% in volumes aided by
healthy volumes in its blends, namely Saffola Tasty and Saffola Gold, launched in FY05.

New products – Parachute Sampoorna, Silk-n-Shine, Saffola blends, by & large,
performed in accordance with expectations.
The focus on high margin products continued - the high margin portfolio has registered a
growth of 18% in volumes and now constitutes 71% of Marico’s total turnover, up from
66% last year. Sales of low margin portfolio degrew 7%, a call consciously taken by
Marico to realign its resources. Market share has been consistently increasing in the
coconut oil segment, while in the Hair Oils market, Marico is now the clear No. 2 player.
International business comprising the FMCG business ( up 29 %) , Kaya in UAE and
Sundari in the US now stands at Rs. 103 Crore and thus contributes over 10% of Group
turnover. Parachute Cream continued to grow in the Gulf countries. In Bangladesh,
Parachute Coconut Oil consolidated its market leadership and crossed 50% market share
in March ‘05.
Kaya has , in just over 2 years, grown into a 34 clinic strong skin care chain across 11
cities in India and UAE., with a customer log of over 40,000. During FY05, the Kaya
business reached a turnover of Rs. 20.9 Crore, of which Rs. 8.4 Crore was clocked in Q4
FY 05. On an annualised basis, Kaya’s turnover based on current clinic build up is about
Rs. 30 – 35 Crore. As the business continued to be in investment phase, the loss for the
year was Rs. 7.9 Crore. The Kaya Skin Clinic venture is expected to contribute as a
strong growth engine for both top line and bottom line, as also help Marico move up the
value chain, through high value add solutions- both services and products.

About Us
Marico is a leading Indian Group in Consumer Products and Services in the Global Beauty and
Wellness space. Marico’s Products and Services in Hair care, Skin Care and Healthy Foods
generated during 2006-07 a Turnover of about Rs.15.6 billion (USD 380 Million). Marico
markets well-known brands such as Parachute, Saffola, Sweekar, Hair & Care, Nihar, Shanti,
Mediker, Revive, Kaya, Sundari, Aromatic, Fiancee and HairCode. Marico’s brands and their
extensions occupy leadership positions with significant market shares in most categories-
Coconut Oil, Hair Oils, Post Wash Hair Care, Anti-lice Treatment, Premium Refined Edible Oils,
niche Fabric Care etc. Marico is present in the Skin Care Services segment through Kaya Skin
Clinics (48 in India and the Middle East), the Sundari range of Spa skin care products (in the
USA & other countries) and also through a recently acquired nascent soap franchise (in India
and Bangladesh).
Marico's branded products are also present in Bangladesh, other SAARC countries, the Middle
East and Egypt. The Overseas Sales franchise of Marico’s Consumer Products (whether as
exports from India or as local operations in a foreign country) is one of the largest amongst
Indian Companies and is entirely in branded products and services.
Every month, over 70 Million consumer packs from Marico reach approximately 130 Million
consumers in about 23 Million households, through a widespread distribution network of more
than 2.5 Million outlets in India and overseas.
Marico’s focus on sustainable profitable growth is manifest through its consistent financial

performance – a CAGR of 19% in Turnover and 19% in Profits over the past 5 years- while
setting a record of several consecutive quarters of year on year growth- 30 for Profits and 26
for Sales, and distributing dividends for 25 consecutive quarters.
The Marico scrip is listed on the Bombay Stock Exchange (BSE) (Code 531642) & on the
National Stock Exchange (NSE) (Code “MARICO”).
Registered office:
Marico Ltd.
"Rang Sharda", Krishnachandra Marg,
Bandra Reclamation,
Bandra (West),
Mumbai - 400050,
India.
Email: milinvrel@maricoindia.net;
Website: www.maricoindia.com
other related websites are:
www.saffolalife.com,
www.kayaclinic.com,
www.sundari.com,
www.parachuteadvansed.com,
and www.innovation4india.com
Marico's Values
Marico has a set of articulated values that were created at the inception of the organization,
revisited and modified once in the year 1997 and lately in 2005, through the collective wisdom
of Mariconians. The values since then have been an integral part of the working of all
Mariconians.
Our values are preferred practices that are employed in pursuit of our Business Direction. They
sum up the philosophy that will build the culture to drive business growth.
OPPORTUNITY SEEKING
Identifying weak opportunity/ discontinuity signals in the environement to generate
growth Options.
BIAS FOR ACTION
Preference for quick thoughtful action as opposed to delayed action through analysis.
CONSUMER CENTRIC
Keeping consumer as the focus and a partner in creating and delivering solutions.
EXCELLENCE
Continuous improvement of performance standards and capability building for

sustained long term success.
INNOVATION
Experimentation and calculated risk taking to increase success probability of radical/
pioneering ideas to get quantum results.
OPENNESS & TRANSPARENCY
Allowing diversity of opinion by listening without bias, giving & receiving critique, with
mutual respect and trust for the other
GLOBAL OUTLOOK
Senstivity and adaptability to gender & cultural diversity and learning from them
BOUNDARYLESSNESS
Seeking support & influencing others beyond the function & organisation to achieve a
better outcome/ decision without diluting one's accountability.
OPPORTUNITY SEEKING
Opportunities lie all around us in the form of unstated needs of consumers, changes trends,
attitudes & habits of people. Very often they are first visible, as weak signals and those
who read them early on will gain an advantage over the rest. These signals need to be
identified and converted to possibilities for business growth. Higher the number of
opportunities converted, higher will be the growth options for our people.
BIAS FOR ACTION
Bias for action is a preference for action over deep analysis. When action is the identity,
much more is likely to get done in an organisation. In times where change happens at a
rapid pace, an agility of mind is extremely important to keep winning. It is about the ability
to move ahead inspite of doubt, of moving ahead even when 100% data is not available by
using gut. It is however, not about rash actions without investing any time to think through
or doing reasonable inquiry.
CONSUMER CENTRIC
The wealth of the company is created by the trust of its consumers. In the final analysis it
is this trust that compensates us materially and intellectually. The consumer must

therefore be the primary focus of all the efforts. Members and associates must design their
output in ways that add value to the consumer.
EXCELLENCE
Only organisations that set world-class standards, will survive in the future. We will focus
on practices that encourage and sustain rising standards of performance and builds on the
pool of our talented members. Members will be encouraged to continuously benchmark
against the best and continuously strive to be better than the best.
INNOVATION
The future of the organisation rests on the willingness to experiment, push in new and
untested directions, and think in uncommon ways to take calculated risks. We innovate
when we do something in ways that are distinctive/ pioneering and gives dramatic results.
Fear of failure should not be the reason to avoid trying something different or new. More
often than not, we fear change because of the unpredictability of the outcome.
Experimentation helps build predictability of results. It helps us stimulate an idea on a
small scale, and learn about possiblepitfalls before going the whole way.
OPENNESS & TRANSPARENCY
Openness is a value that helps build a culture of trust and synergy. It is only when there is
trust that the culture can be apolitical, ideas can be exchanged freely without any fear and
experimentation can flourish. It is also in this environment that people will feel free to build
on each other and collectively we will achieve more than individual effort.
GLOBAL OUTLOOK

Becoming a global player requires a deep understanding of the global markets, ability to
deal with people of diverse cultures and ability to compete effectively in those
markets.
BOUNDARYLESSNESS
Boundarylessness, like openness helps build a culture where we can leverage the collective
wisdom to get synergies. This is assuming higher degree of criticality in the world where it
is difficult for one person to know all and the interdependency amongst functions is
increasing.
How we are Structured
A Flat Structure:
At Marico, we are an organisation, which is flat with only five levels of reporting between the
Managing Director and an operator on the shop floor.
We believe that a flat structure helps us in being more responsive to the environment while
providing enriched roles for our members. Our structure defines clear roles and supporting
relationships but is by no means rigid. Keeping in mind the fast and ever changing business
environs, Marico's structure is dynamic and constantly evolving.
Profit Centers:
In order to provide focus to its business operations, Marico has organised its businesses into the
following business segments or profit centers:
Consumer Products, comprising the operations of Marico Limited and Marico Bangladesh Limited.
This division manufactures & markets Marico's 10 leading consumer product brands like Parachute,
Saffola, etc.
Aesthetics Services, comprising operations of Kaya Skin Clinics under the banner of Kaya Skin Care
Ltd. Kaya Skin Clinics offer US FDA approved scientific dermatological procedures that are
customised to suit the Indian skin.
Global Ayurvedics, comprising the operation of Sundari LLC in the US. Sundari markets the Sundari

range of Ayurvedic skin care products in the US & other parts of the world.
All the above profit centers have their dedicated marketing teams, distribution channels, sales force
and backroom facilities.
What it has done for us:
The creation of Profit Centers has led to higher business orientation, improved inter-functional
coordination and has ensured that our organisation structure supports our overall Company
Strategy and Business Direction. Each Business Unit has a Business Head supported by a team of
professionals.
Finance:
The company is strongly supported by the Finance Division, which handles the legal, treasury, tax,
control systems and management information support. Additionally, every profit center has its own
dedicated finance cell.
HR:
Equal support comes from our HRD team, which expends its energies, formulating and building
strategies to build a stable and high - talent organisation.
The innovations and the quest for excellence at Marico continue unabated. Even as the success
stories continue, the focus from the consumer never shifts.
Business Direction
MARICO'S BUSINESS DIRECTION - 2010:
We commit ourselves to improving the quality of people's lives in several parts of the world, through
branded fast moving consumer products and services in Personal and Health Care sectors.
We shall offer brands that enhance the appeal and nourishment of hair and skin through distinctive
products and services based on the goodness of coconut, other natural substances and the
underlying science of hair care and skin care.
We shall make available brands that contribute to healthy living, through, both products drawn from
agriculture offered in natural or processed forms, and services.
We shall develop, in parts of the world beyond the Indian Subcontinent, a franchise for our branded
products and services.

We shall aim to be a leader in each of our businesses through heightened sensitivity to consumer
needs, setting up of new standards in the delivery and quality of products and services and
processes of continuous learning and improvement.
We shall share our prosperity amongst members, shareholders and associates, who contribute in
improving our equity and market value. We shall acquire the stature of a friendly corporate citizen,
contributing to the betterment of neighbourhood communities, where we are significantly present.
Board of Directors
COMPOSITION AND CATEGORY OF DIRECTORS OF MARICO LIMITED
NAME CATEGORY
Mr. Harsh Mariwala Chairman & Managing Director (Promoter)
Mr. Rajeev Bakshi Non-Executive and Independent
Mr. Atul Choksey Non-Executive and Independent
Mr. Nikhil Khattau Non-Executive and Independent
Mr. Jacob Kurian Non-Executive and Independent
Mr. Rajen Mariwala Non–Executive (Promoter)
Ms. Hema Ravichandar Non-Executive and Independent
Mr. Bipin Shah Non-Executive and Independent
Mr. Anand Kripalu Non-Executive and Independent
BRIEF PROFILE OF DIRECTORS OF MARICO LIMITED:
Mr. Harsh C. Mariwala:
A Bachelor of Commerce from Sydenham College, Mumbai, Mr. Mariwala started his career with the
Bombay Oil Industries Limited (BOIL) in the year 1971. He took charge of the Company's Consumer
Products division in 1975 and functioned as its Executive Director from 1980-1990. In 1990, he took
over as Chairman & managing Director of Marico Limited. During the last decade, Marico has grown
from a sales turnover of Rs. 1.1 billion to Rs. 10 billion.
Under his leadership, Marico, has seen transformation of a traditional commodity driven business to
a leading blue-blooded FMCG business focussing on value-added products (Marico has expanded its
portfolio from 2 brands in BOIL to 12 brands in Marico) and services, both in India and abroad.
Besides being the Chairman & Managing Director of Marico, Mr. Mariwala is on the Board of MIRC
Electronics Limited among others.

Mr. Mariwala is also a member of the Executive Committee of the Federation of Indian Chambers Of
Commerce & Industry (FICCI).
While being transformed from a Family owned and managed Company into a Listed, Professionally
managed Corporation under Mr. Mariwala's leadership, Marico has won various awards for
excellence, including the award for Top Performing Global Growth Company from India (1997) at
the World Economic Forum, the award for the Best HR practices from the National HRD Network
(1994) and the Innovative HR Practice Award at the Asia Pacific HR Conference (1999).
Mr. Mariwala is an active golf player and when he takes time off, he likes to pursue his hobbies in
swimming, trekking and listening to Indian classical music.
Mr. Rajeev Bakshi:
Mr. Bakshi has a Bachelor of Arts (Economics) Honours Degree from St. Stephens College in Delhi
and an MBA degree from the Indian Institute of Management, Bangalore.
At present Mr. Rajeev Bakshi is the Chairman of PepsiCo India Holdings Pvt. Ltd. in India in which
position he has responsibility for the company's business in India, Nepal, Bhutan, Bangladesh and
Sri Lanka.
Mr. Bakshi has served Lakme India in a range of sales, marketing and general management
assignments. Also, Mr. Bakshi has successfully handled several assignments with Cadbury
Schweppes Limited in the capacity of Vice-President Sales and Marketing, Cadbury India Limited,
Regional Marketing Director, London, Managing Director, India/South Asia and finally Managing
Director, Cadbury (Pty), South Africa.
Mr. Atul C. Choksey:
Mr Atul C Choksey joined Asian Paints (India) Ltd as a Junior Executive in July, 1973. He was
subsequently appointed as a Wholetime Director of the Company with effect from Ist May, 1979.
He served as the Managing Director of the Company from 15th April, 1984 to 22nd August,1997. He
is the Chairman of APCO Group of Companies which consists of Apcotex Industries Ltd and Apcosoft
Private Limited as well as other group Companies. He jointly with ANZ Grindlays Bank Ltd.
(presently known as Standard Chartered Grindlays Bank) promoted ANZ Asset Mgt Co. Pvt Ltd.
Which is now Standard Chartered Asset Management Co. Pvt. Ltd. Of which he is also a Director. He

is a member of the Asian Executive Board of the Wharton Business School of the University of
Pennsylvania, Philadelphia, USA. From 1980 till 1997, he took active interest and held several
positions in the Indian Paint Association (IPA) including the position of the President of the
Association, a representative body of paint manufacturers in India. He was the President of Bombay
Chamber of Commerce & Industry as well as Deputy President of Associated Chambers of
Commerce & Industry of India for 1993 - 1994.
Mr. Nikhil Khattau:
Mr. Nikhil Khattau, (42 years of age) a Chartered Accountant from the Institute of Chartered
Accountants of England and Wales started his career with Ernst & Young's corporate finance practice
in London & New York. Thereafter, he was associated with Sun F & C as the Chief Executive officer.
He has rich experience in the Financial Services Industry and has over 15 years of experience in
asset management and emerging markets corporate finance.
His other directorships include Nagpur Power and Industries Limited and Mid-Day Multimedia
Limited. He has been on the Board of Directors of your Company since July 25, 2001.
Mr. Jacob Kurian:
Jacob Kurian is a Bachelor of Engineering (Electrical & Electronics) from the Regional Engineering
College, University of Chennai and holds a Post Graduate Diploma in Management from the Xavier
Labour Relations Institute.
His corporate experience of 26 years includes over 21 years as a Tata Administrative Service Officer
in the Tata Group. Since 2003, he has been President, Sylvan Learning India, a part of the world's
leading education services company focused on post-secondary education.
Mr. Kurian has been a member of the CII National Committee on Retailing and Marketing and the
Tata Group Strategy Forum.
Mr. Rajen Mariwala:
Mr. Rajen Mariwala has done his Masters in Chemical Engineering from Cornell University , USA . He
is presently the Managing Director of Hindustan Polyamides & Fibres Limited, a leading exporter of
specialty chemicals - specifically chemicals for fragrances and personal care products. He brings

with him a rich experience of over 16 years in leading a competitive global business in specialty
chemicals.
Ms. Hema Ravichandar:
Ms. Hema Ravichandar's experience of 22 years comprises corporate roles in Infosys Technologies
Ltd and Motor Industries Co. Ltd, and an entrepreneurial stint in an HR consulting venture she set
up independently to service clients across industries. Her experience spans across Change
Management, Leadership Development and Human Resource Development. Ms. Ravichandar is a
part of the Executive Committee of the National Human Resources Development Network and was
the Chairperson of Conference Board's HR Council for India. She has co-chaired the Confederation
of Indian Industry's (CII) HR & IR (Southern Region) Subcommittee as also CII's National
Conference on Leveraging Diversity and Managing Inclusion.
Mr. Bipin R. Shah:
Mr. Bipin R. Shah started his career in 1956 when he joined the Hindustan Lever Limited (HLL) as a
Management Trainee after completing his B.com and Chartered Accountancy from Mumbai.
After holding several commercial assignments in HLL between 1958 and 1978, Mr. B. R. Shah
became the Director of HLL in 1979. In 1981, in addition to his Directorship in HLL, he was assigned
an additional responsibility of being Chairman of another Unilever subsidiary namely Lipton
Industries Ltd.
Mr. Shah retired from the Lever Group of Companies in 1992 and is presently the Vice Chairman of
Indus Venture Management Ltd., a Venture Management Company.He has been nonexecutive
Director in several Companies including CRISIL, which is a premier credit rating agency in India.
Mr. Anand Kripalu :
Mr. Anand Kripalu, a Bachelor in Electronics from the Indian Institute of Technology, Madras and an
MBA from the Indian Institute of Management, Calcutta, is currently the Managing Director of
Cadbury Schweppes, with responsibility for the Indian Sub-continent.
Mr. Kripalu, in his long experience of 24 years in the FMCG Industry, has held several positions in
Sales, Marketing and Operations in Unilever. Most recently he was Managing Director for Unilever’s
East Africa operations. Key assignments handled by him include setting up of the Dental Innovation
Centre at Mumbai, Head of Market Research, and Head of Marketing for the Laundry category for
India and the Central Asia Middle East Region, as well as, General Manager – Sales & Customer

Development for HLL’s Detergents business, with overall responsibility for Customer Management
for the company.
Information Technology
Information Technology - Bringing Competitive Advantage to Marico's Business Evolution:
Information Technology (IT) is becoming increasingly relevant for the Fast Moving Consumer Goods
(FMCG) industry of which Marico is a constituent. A widespread supply chain network of
manufacturing locations on one hand and dealers and retailers on the other makes timely
availability of real time information very crucial for planning & decision making.
With a proactive realization of how IT can add value to business, Marico has been continuously
upgrading its IT infrastructure. From distributed and unconnected IT systems, Marico has migrated
to a centralized and integrated IT architecture, riding a successful change management process.
IT infrastructure:
Marico's IT infrastructure comprises:
SAP suite of R/3, Business Warehouse and APO - a Supply Chain solution.
Intel Itanium 2 servers hosting the SAP Suite of products.
Mi-Net, an internet enabled B2B platform for the sales force.
MIDAS, a transaction processing software for Marico's distributors.
A state of the art connectivity network comprising VSATs, VPNs, Leased Circuits and Internet VPNs
connecting all the factories, regional offices, depots and some subcontractors of Marico to the
centralized data center in Mumbai
Citrix solutions that help Marico in reduce traffic on the network.
Storage technologies like SAN and NAS that help Marico reduce the storage costs.
Firewall, Anti Virus Software & Intrusion Detection Systems to ensure comprehensive security of the
Information Systems.
Aventail Smart SSL VPN to enable secure remote access from anywhere in the world.
Marico was the first in India to go live on SAP R/3 suite of products comprising SAP R/3, APO and
BIW with a big bang approach completing the implementation within a record 9-month period.
Marico won the SAP Star award for this implementation.
Marico has since extended the SAP R/3 system to its overseas operations in Bangladesh & Kaya, the
skin care services venture of Marico.
In FY 2004-05, Marico upgraded its SAP suite to the latest release to improve performance &
leverage the new features of the latest release. Marico also was one of the early adopters of the
Intel Itanium 2 platform, harnessing the power of 64-bit computing to deliver improved

performance and benefits to the business.
Sales Force productivity is the key to any FMCG company's ability to service its customers better
and Marico is no exception. Marico has therefore implemented MIDAS and Mi-Net for the following
business benefits:
• Improvement in forecast accuracy
• Reduction in sales Skew
• Reduction in planning cycle time
• Reduction in late deliveries
• Reactivation of lapsed outlets
• Improvement in return on investment for the distributor
• Reduction in the working capital requirement
• Reduction in claim pilferage
Besides cost savings, these benefits have enhanced Marico's ability to service its consumers -
making its brands available at the right time, at the right places in right quantities and for the right
value add to its stake holders.
Accolades:
Intelligent Enterprise Award (Retail & Consumer Products) by Network Magazine and Ernst & Young
in 2004.
Finalist in the Wharton - Infosys Business Transformation Award in the Asia Pacific region in 2004.
STAR installation award by SAP for successful implementation of SAP in 2001.
Lakshya award from NITIE for Mi-Net in 2002.
Going Forward:
Going forward, Marico has identified various areas to be impacted by IT. These include:
• Connecting Marico's supplier base and enabling information collaboration with them.
• Automating the processes related to Human Capital Management.
• Automating the Product Lifecycle Management processes.

• Enhancing employee productivity through collaboration & conferencing tools.
Sales & Distribution
Marico's Distribution Network:
Marico's distribution width and penetration is acknowledged as one of the best in the industry
and is a leverageable strength. Every month, 56 million consumer packs are sold to about 1.8
million households through 1.6 million retail outlets spread across the country. Marico's
distribution network covers almost every Indian town with a population of over 20,000. The
chart below depicts Marico's distribution network in the urban & rural markets:
Thus, 1 out of every 10 Indians is a Marico consumer.
Distribution Alliance:
Our distribution strength has been recognised by Indo Nissin Foods Ltd. through their
association with us for the distribution of Top Ramen products on a national basis.
Rural Sales & Distribution:
• Marico's parallel rural sales and distribution network ranks among the top three in the
industry and contributes 24% to the company's topline.
• Our infrastructure comprises 882 direct distributors, 153 super distributors, catering
to 2393 small stockists and 4523 van markets.
• A dedicated team of Territory Sales Executives and Pilot Sales Representatives
distribute Marico's as well as alliance brands through this vibrant network.
Sales Capacity:
We have made significant progress in the areas that enhance sales capacity.
• Quality of our distributors
• Quality and number of the distributor field force
• Upgradation in the role of the company's front-line sales force.
Training:
Marico believes in investing in the training and development of its field force for:
• Regularly upgrading skill sets.

• Providing an understanding for leadership enhancement
Information Technology (IT) in Sales:
Marico has been making investments in IT to ensure:
• Supply Chain efficiencies
• Availability of the SKU at the right distributor point, at the right time in right
quantities
• Timely availability and reliability of Sales MIS, which help in taking prudent decisions
on a real time basis.
In order to reap maximum benefits from its sales and distribution network, Marico embarked
on an internet-enabled application - MI-Net - to establish a network between Marico and its
distributors through a web interface. This project is aimed at providing real time information
on the status of various business operations between Marico and its distributors. This initiative
is expected to provide business benefits in the form of increased penetration by the sales
force, reduced communication costs, reduced working capital requirements, etc. The project
went live on April 1, 2002 with connectivity to 330 urban distributors, who together account
for about 3/4th of Marico's domestic turnover. The business benefits are expected to accrue
over a period of time.
At The End of The Day:
We believe that all our efforts and strengths MUST mean a better quality of life for our
consumers as the maxim "Consumer is the King" is sacrosanct in our organisation. We strive
towards this goal by constantly evolving new methods and practices that enhance the quality
of our service. The entire sales organisation strives to be the BEST in CLASS at all times in all
respects. These initiatives have been rewarded with increase in sales, greater penetration and
happier consumers. Our ability to gather path-breaking insight has led us to untapped rural
areas and the results have been great.
Sales & Distribution
Information Technology (IT) in Sales:
Marico has been making investments in IT to ensure:
• Supply Chain efficiencies

• Availability of the SKU at the right distributor point, at the right time in right
quantities
• Timely availability and reliability of Sales MIS, which help in taking prudent decisions
on a real time basis.
In order to reap maximum benefits from its sales and distribution network, Marico embarked
on an internet-enabled application - MI-Net - to establish a network between Marico and its
distributors through a web interface. This project is aimed at providing real time information
on the status of various business operations between Marico and its distributors. This initiative
is expected to provide business benefits in the form of increased penetration by the sales
force, reduced communication costs, reduced working capital requirements, etc. The project
went live on April 1, 2002 with connectivity to 330 urban distributors, who together account
for about 3/4th of Marico's domestic turnover. The business benefits are expected to accrue
over a period of time.
At The End of The Day:
We believe that all our efforts and strengths MUST mean a better quality of life for our
consumers as the maxim "Consumer is the King" is sacrosanct in our organisation. We strive
towards this goal by constantly evolving new methods and practices that enhance the quality
of our service. The entire sales organisation strives to be the BEST in CLASS at all times in all
respects. These initiatives have been rewarded with increase in sales, greater penetration and
happier consumers. Our ability to gather path-breaking insight has led us to untapped rural
areas and the results have been great.
Marico Yesterday and Today
About Marico:
• A leading Indian group operating in
o Consumer Products
o Aesthetic Services
o Global Ayurvedics business
• FY 2004-05 Turnover ~ Rs.10 billion (USD 230 Million)
• 12 brands and extensions with leadership in respective categories
Parachute, Parachute Advansed, Parachute Sampoorna, Saffola, Sweekar,
Parachute Jasmine & Rose, Hair & Care, Shanti, Mediker, Oil of Malabar,

Mealmaker, Sil, Revive, Silknshine
• The Overseas Sales franchise of Marico's branded FMCG products
One of the largest amongst Indian Companies
• Marico's own manufacturing facilities are located at Goa, Kanjikode, Jalgaon, Saswad,
Pondicherry, Dehradun and Daman Supported by subcontracting units
• In Bangladesh, Marico operates through Marico Bangladesh Limited, a wholly owned
subsidiary Manufacturing facility at Mouchak, near Gazipur
Marico - Then and Now:
To understand how far Marico has come, all you need to do is take a look at what we inherited.
MARICO YESTERDAY (1991) MARICO TODAY (2005)
A sales turnover of Rs. 1059 million
A sales turnover of Rs.
10128 million
Profit after tax of Rs. 24 million
Profit after tax of Rs.
701 million
Net worth of Rs.33 million
Net worth of Rs.2169
million
Two products with brand names - Parachute and Saffola
12 Brands, 3 of which
are Market Leaders
Two factories - a coconut oil plant at Sewree, Bombay and a safflower
refining plant (which has been shut down since) at Mazgaon, Bombay.
7 Factories and sub -
contract facilities
Around 400 employees representing the blue collared work force, staff
and managers.
A total strength of
around 1000 members
Business Model and Organization:
Marico's business model is based on focused growth across all its brands and territories driven by
continuously improving value propositions to consumers, market expansion and widening of retail
reach. Marico aims to be the leader in each of the businesses; by heightened sensitivity to
consumer needs, setting new standards in the delivery and quality of products and services through
processes of continuous learning and improvement. The model ensures that Marico is present in
unique / ethnic Indian Product or Services categories where typical MNCs would not be strong.
Therefore, Marico does not, unlike many other Indian FMCG Companies, get caught in MNC cross
fires.
Marico is a professionally managed Company that has built for itself a stimulating work culture that
empowers people, promotes team building and encourages new ideas. This has, over the years,
enabled Marico to grow its stature as one of the few successful Indian FMCG Companies. Marico was

awarded the National Award for outstanding work in HRD by National HRD Network in 1994 as also
the award for Top Performing Global Growth Company from India at the World Economic Forum in
1997. Marico aims to be the leader in each of the businesses; by heightened sensitivity to consumer
needs, setting new standards in the delivery and quality of products and services through processes
of continuous learning and improvement.
History of Marico:
1996
Marico makes its maiden public
issue
1990
Restructuring - several
companies
Consumer Products Division
becomes Marico
1983
Divisionalisation
Consumer Products Division
Fatty acids and Chemicals
Division
Spice Extracts Division
1948
Birth of The Bombay Oil
Industries
Copra trading, crushing and
refining of vegetable oils
1857
A young man Kanji Moorarji
set up a modest trade in spices
Growing Consumer Franchise:
• Leveraging core sources of Competitive Advantage, Branding, Distribution, Cost
Management and Innovation.
• Marico has set up a fast growing franchise of new products and businesses.
• An enviable record of 5 consecutive new product success stories.

Parachute Jasmine, Shanti Amla, Mediker Anti Lice Oil, Saffola Gold and Saffola
Tasty Blend.
Reducing Marico's dependence on Parachute from a share of about 75% in early 90's to
about 44%.
Growing Market Shares
Brands Category
Indicative Market
Share range %
Rank
Parachute, Oil of Malabar Coconut Oil 59 - 60 1
Revive Fabric Starch ~ 100 1
Mediker Anti Lice Treatment 96 - 100 1
Saffola & Sweekar
High Margin Refined Oils in
Consumer packs
13-14 3
Hair Oil ( Hair & Care,
Parachute Jasmine, Shanti,
Parachute Sampoorna)
Hair Oils 17-19 2
Sil Jams 7 - 8 2
Source: A.C.Neilsen Urban Retail Market Research and Company Sources.
Resilience against competition
Brands Category 1992 (%) Now
Parachute & Oil of Malabar Coconut Oil 48-49 59-60
Saffola & Sweekar
High Margin Refined Oils in
Consumer Packs
5-6 13-14
Parachute Jasmine, Shanti, Hair
& Care
Hair Oils - 17-19
• Marico's Parachute and Saffola are among India 's Top 100 Most Trusted Brands (Brand
Equity survey).
Among Indian brands Parachute ranks 46th and Saffola ranks 92 nd .
• Parachute is probably the world's largest packaged Coconut Oil Brand that makes use of
one out of every twenty coconuts produced in India and 3 nuts of every coconut tree in
India .
Financial Highlights:
Marico has maintained a steady top line and bottom line growth over past decade with a
consistently healthy Return on Capital Employed (ROCE) of over 30%.

Particulars (Rs. Crore) FY01 FY02 FY03 FY04 FY05 CAGR%
Sales & Services 671 696 775 888 1013 13
Profit before Tax 50 58 64 65 74 12
Net Profit ( PAT ) 46 50 56 59 70 13
Earning per share-Annualised (Rs.) 8 9 10 10 12 13
Book value per share (Rs.)* 30 34 34 32 39 8
Net Worth 171 197 193 184 217 6
ROCE % 33 32 31 32 33
* For a meaningful comparison of EPS and Book Value, the numbers for the previous years have been re-
computed based on the enhanced equity share capital of Rs.58 Crore.
Sundari LLC
In Feb 2003, Marico acquired a controlling equity interest in Sundari LLC, the owner of the SUNDARI
line of luxury Ayurvedic skin care products. This entry in the Global Ayurvedics segment represents
Marico's first acquisition in a developed country and its entry into the skin care products market.
Marico holds 75.5% of the equity of Sundari LLC. Shantih LLC, which is owned by the founders of
SUNDARI and a group of private investors, owns the balance. Sundari LLC has its headquarters in
the city of New York.
Laurels Achieved

• Winner of Fashion Group International Award in 2001
• Nominated for the Spa Products of the Year Award in 2005
• Voted as one of the Favourite Spa Products in 2005
• Profiled in the first edition of Klines' new study in 2003
Reach:
Sundari has widened its reach using newer channels of
distribution like super-premium outlets, specialty stores, Spa
channels and through the Internet.
SUNDARI products and treatments are available at some of the
leading spas in the US and worldwide - Canyon Ranch, The Spa
at The Broadmoor, The spa at Camelback Inn, Shambhala
Retreat Parrot Cay, Vail Cascade Resort and Spa, JW Marriott
StarrPass, The Spa at The Setai, Ritz Carlton Battery Park, Spatio
Geneva, Chi Spa Madrid, among others.
Future Plans:
The immediate plan is to expand business in a focused, de-risked manner by using newer channels
of distribution and launching new skin care treatments and products.
In the long run, Sundari will enable Marico to increase its value-added presence with an established
and recognized consumer brand, which shares its philosophies and heritage. Marico will benefit from
Sundari's knowledge of the luxury skin care consumer and the American market. In kind, Sundari
will benefit from Marico's resources and support, including the extensive research and development
efforts and management expertise.

Kaya Skin Care Limited
The Indian Skin care solutions business is growing fast with increased awareness and demand for
cosmetic enhancement. With advancements in medical technology, safe and effective procedures
are available that enhance the look and feel of the skin. Kaya Skin Care Ltd. offers scientific, unisex
dermatological procedures most of them using US FDA approved technology in an environment that
is serene and Zen-like. Kaya thus offers an ideal combination of aesthetic and clinical care.
'Kaya' was an entrepreneurial leap of faith marking Marico's entry into skin care solutions business.

It was a true reflection of uncommon sense for a company in hair care products to move, instead of
merely logical product extensions, straight into skin care services. It attempted to leverage Marico's
strengths in the Personal Care business and in-depth understanding of the needs of the Indian
consumer and her/his desire to enhance her/his natural beauty with the best cosmetic dermatology
procedures available internationally.
Kaya Skin Care Ltd. is now recognized as a pioneer in skin
care and has become a benchmark for efficacy and client
care. In just over 2 years, Kaya now spans 42 clinics in 14
Indian cities, in addition to the 2 in Dubai . Over 40,000
delighted customers now pledge their trust in Kaya. 97% of
Kaya's clientele has rated the service between good and
excellent.
Kaya Skin Care Ltd. seeks to create a differentiation as a corporate service provider offering safe,
efficacious and credible Skin Care services range at multiple locations. This would be in contrast
with the large number of small 'singular' clinics currently present in this segment.
Kaya targets high-end customers in Sec A-1 and A-2 with age group of 16-60 years across metros
and mini metros in the country. The objective is to provide result-oriented, personalized, non-
surgical skin solutions in a serene Zen like environment.
Kaya prototyped and plans to scale up new services created by the Kaya Skin Advisory. Kaya
Advanced Facial, including no re-use 100% disposable elements received a positive feedback.
Another service on the scale up anvil is the Kaya Age Control non-surgical solution. It adopts a
holistic approach that delivers visible results in helping the skin to look younger & healthier.
With In-clinic workshops, Radio Buzz, Press Activities, Buzz Activities like 'Kaya Backless Nite' &
'Kaya Silky Legs Nite', & highly sophisticated Press Ads, Kaya has re-defined the marketing
approach. Kaya recently featured into one of the episodes of the popular TV serial 'Jassi Jaisi Kooi
Nahin'.
Kaya Services

All services at Kaya begin with a 'skinscription' - an in-depth
analysis of a client's skin and a treatment plan customized to
each skin type prescribed by a Kaya Skin Advisory (KSA) certified
dermatologist.
All the services offered at Kaya Skin Clinic are designed and
supervised by a distinguished team of 100 dermatologists and
carried out by certified skin practitioners, each with more than
300 hours of training.
The treatments available include services segregated into three distinct categories:
Enhancement services:
Skin polishing and Brightening (Microdermabrasion)
• Kaya GlowTM (Microdermabrasion and Rehydration)
• Kaya Face Rejuvenator
• Kaya Eye Rejuvenator
• Kaya Back Shine Permanent Hair Reduction
Problem Solution services
• Pigmentation and Acne Scar Reduction
• Kaya Pimple Free
• Peels
• Sun-spots, Skin-tags and Wart Removal
• Dark Circle Reduction
Anti-aging services
• Non Surgical Face-lift - (Micro Current)
• PhotofacialT - (Laser Photo-rejuvenation)
• BOTOX®
• Fillers (Restylane & Perlane)

Kaya Products
As part of the solutions, Kaya has also launched a range of skincare products, which are the result
of an extensive skin-care research in demo-cosmetic laboratories based in France , UK & USA .
These are not only used during the skin care services but are also available for post service usage
as a follow up to the service undertaken at the clinic. All Kaya Skin Clinic Products are
dermatological tested and approved for Indian skin by the Kaya Skin Advisory.
Kaya Skin Care Products:
1. Skin Lightening Complex - for pigmentation.
2. Skin Repair Complex - for anti ageing.
3. Daily Moisturising Sunscreen (SPF 30) - for daily sun protection.
4. Lighten & Smooth Under-Eye Gel - for dark circles.
5. Recharging Night Crème - for moisturizing effect.
6. Soothing Cleansing Gel - soap free cleanser for daily use.
7. Revitalising Tonic - for toning and refreshing the skin.
8. Kaya Travel Pack - skin care while on the move.
Kaya recently introduced a Travel Pack that comprises Sunscreen, Recharging Night Cream, Skin
Lightening Complex and Skin Repair Complex.
Roadmap for the Future
Marico's entry in the Skin Care Services business was driven by the opportunity to be the first
mover in yet another category, leveraging the access which Marico has to advancements in medical
technology which offer revolutionary products and deliver superior results. The Kaya Skin Clinics
have filled in the vacant space of providing high quality, credible and safe cosmetic Dermatology
based skin care and would gain from being the first mover. They also fit in with Marico's philosophy
of aiming to provide solutions suitable to Indian consumers. We have taken additional care to
ensure that the machines are suitable to Indian skin- the solution fits in with the needs of the Indian
consumer. The knowledge gained by the Company in this area is also helping the Company for
development of products in the Skin Care area.

By the end of FY 05 the target is to open 45-48 clinics in India .
The financial model has also started showing results with the
operational break even of each clinic being reached by within 6
to 9 months of operation. The capital expenditure for each clinic
ranges from Rs. 1 crore to Rs. 1.5 crore. During H1FY06, Kaya
achieved a turnover of Rs. 21 crore. With more clinics stabilizing
operations in H2Y06, Kaya is expected to break even at the
operating PBIT level during 2006.
The Kaya Skin Clinic venture is expected to contribute as a strong growth engine for both top line
and bottom line in the years to come. It would also help Marico to move up the value chain in the
Personal Care business, through high value add solutions- both services and products in the skin
care space.
Mediker
Introduction
Mediker, a three-decade-old brand was acquired by Marico from Procter & Gamble, in July 1999, in

the shampoo format. Mediker is a brand for treating lice and a market leader in its category.
Mediker today has three products in its portfolio: Mediker Anti Lice treatment, Mediker Anti Lice Oil
and Mediker Plus Anti Lice Oil.
Lice problem
Lice problem is a very common problem among girl children in the age group of 5 - 12 years. A
child can go through physical, mental and psychological problems due to lice. Problems like anemia,
pediculosis, lack of concentration, bleeding through excessive scratching, rejection, social
embarrassment etc. can add to the child's growing up pains. Mediker is an easy painless solution,
which helps the mother tackle this problem.
Evolution
In its first avtaar, Mediker pioneered the switch from the traditional lice comb, which is painful to
use, to an easy and effective way of treating lice using shampoo.
Marico recognized a consumer need and also launched 'Mediker
Anti Lice Oil' to provide an alternative to a different consumer
segment who is more comfortable with the hair oil format.
Mediker Anti-Lice Oil, or simply Mediker Oil, contains Coconut oil
with Neem extracts and Camphor that effectively fight the
problem of lice. The product was nationally launched in
December 2002.
Mediker Plus Anti-Lice Oil was launched specifically in the
Southern markets in February 2005, as the South Indian
consumer was looking for an alternative to Mediker Anti-Lice
Shampoo.
Our consumers
Mediker's primary target has been mothers of school-going children. The brand has caught on, not
just in the urban sections of India but also the rural.
Consumers who may find Shampoo a little harsh for hair treatment prefer Mediker Oil. Mediker Oil
has overtaken Mediker Shampoo both in terms of volumes and reach.
Contributor’s to Mediker’s success
Success of the Mediker brand is the result of constant innovation by the R&D team, consumer-

centric communication and excellent distribution.
Mediker now symbolizes 'Freedom of Childhood' enabling children to enjoy the childhood pleasures
and empowering the mother with the solution to tackle this menace.
Mediker is committed to educating the consumer about the lice menace and problems that children
can face therefore. To this end Mediker not only conducts awareness campaigns in the media, but
also undertakes activation programs in small towns, school contact programs and PR initiatives
across.
New Initiatives
Mediker requires a drug licence to market it's product as it contains a drug called Permethrin. R & D
has developed a completely natural formulation of Mediker Oil. The prototype of this product is
currently on in Maharashtra . The launch of Mediker Natural Oil can give us significant distribution
gains, thereby volume gains, as one would not require a drug license to market the same. The
national rollout of Mediker Natural oil is underway.
Saffola
Saffola is a forty year-old brand, widely recognized by consumers to be "Good for Heart".

Evolution:
Saffola, positioned on the 'good for Heart' platform was small in volume terms, till 1993, when a
series of hard-hitting ads took the brand to new heights. Awarded the 'Brand of the Year' in 1993
and again recently in 2005 by The Advertising Club of Bombay, the brand has continuously
modernized and upgraded itself. A new aesthetically defined shape was launched in 1998 ensuring
glug-free pouring. The brand was repositioned as 'Heart of a Healthy Family' and extended to a
value added edible oil and salt.
A Web site on health, www.saffolalife.com was launched in 2002 to guide Heartcarers as well as
proactive health seekers on various aspects of Dietary Health. It also provides a free personalized
diet plan service, which anyone can use to get a diet as per his or her individual health
requirements.
Saffola also introduced Dial A Dietician service in 2004. With its
team of highly qualified dieticians this service provides everyone
free and personalized diet advice and tips on maintaining a
regular health regime. By dialing the number 1800 22 2929 from
anywhere in the country, all questions on dietary and nutritional
aspects of health will be answered by expert professionals.
Our consumers:
Saffola's target audience comprises health-conscious consumers.
Contributor's to Saffola's success:
The key to Saffola's growth has been its impactful advertising and the innovative marketing
techniques, helping consumers experience a full health care service, not just a product. The 'Saffola
Healthy Heart Foundation' was set up to provide a whole lot of additional services to enable
consumers to take the required steps to improve their lives.
There was a certain misconception in the minds of people who took heart attack as first symptom of
ill-heart health. The corrective action in their lives happened post that. Saffola in its endeavor has
used several platforms to highlight the risk factors concerning heart care that if not taken cared off
could worsen to an heart attack. The new Dil Ko Rakhiye Jawaan campaign brings to light the risk
factors like Obesity, stress, hypertension etc prevalent in our daily life that could act as trigger
points.

Every year on World Heart Day, Saffola conducts several events that highlight the preventive steps
that can be taken for healthy heart. Also all round the year various on ground events like Health
runs and Health check up camps have been organized for the same.
Saffola Gold - Dil Ko Rakhiye Jawan
Saffola Gold has the internationally proven formula of 70% Rice Bran Oil (RBO) and 30% of
Safflower Oil (Kardi oil). This has also been proven effective in Indian research.
What makes it so good ?
• Saffola has a Unique Double Action

• Helps reduce Cholesterol
• Absorbs less into your food
More about its ingredients
Rice Bran Oil (RBO):
Heart healthy nutrients in RBO such as tocotrienols and oryzanol are known for their cholesterol
lowering ability.
Safflower (Kardi) Oil:
Linoleic acid, an omega-6-polyunsaturated fatty acid, is present in a high percentage in safflower oil
and helps reduce cholesterol levels.
Vitamin E:
Saffola Gold is fortified with natural vitamin E (d -
alpha tocopherol). Other oils are not fortified and
therefore the Vitamin E content in them remains
variable and depends on processing. Vitamin E
helps to preserve the stability of oil, thereby
increases its shelf-life. Vitamin E is known to play
a role in immunity. Vitamin E is also amongst the
established breed of antioxidants that helps retard
aging and prevents heart disease.
Low Absorb Technology:
Saffola Gold is made through an exclusive protection technology called LoSorb that makes the oil
more stable during deep-frying. No other oil or blend of oil in the country has this technology. When
food is fried in Saffola Gold, there is lesser of the unhealthy degraded compounds formed. So if
you're looking for a cooking oil to fry foods, choose Saffola Gold.
Saffola Gold - Gift wraps convenience and heart-health
Major concern today is the occurrence of heart disease with every fourth Indian being under the
threat. Common sense will always be an important part of a healthful diet - choosing a simple
nutrient-dense, high-fibre diet that is low in saturated fat and salt with increased physical activity
and better lifestyle will significantly reduce the incidence of this disease. And of course, adopting

Saffola Gold as your family's cooking medium is one big step that you can take towards
safeguarding your family's precious hearts.
Saffola Tasty Blend
Saffola Tasty Blend is the first edible oil blend in the country. This oil blend provides the benefits of
two oils, thereby giving added value to the consumer. It provides the do-good properties of Kardi
and the taste of Corn oil.
Evolution:
Saffola Tasty Blend is a step in the evolution of the Saffola brand into value-added products and
services in the area of health.
Our consumers:
Housewives in the age group of 25 - 35, middle income onwards, who are health conscious.
Contributors to Saffola Tasty Blend's success:
The balance between health and taste, addressing a core consumer need has been significant in
TastyBlend's success.
Saffola Tasty Blend's track record:

Saffola Tasty Blend was launched in the year 1998-99. Since then the Blend has been performing
really well. Along with Saffola Gold, it has ensured continued availability of Saffola for its consumers
at a time when Marico faced acute shortage of safflower, the main raw material for Saffola Brand.
Both these blends have captured a market share of above 4% in the ROCP (Refined Oils in
Consumer Packs) market and have helped Saffola hold on to its overall consumer franchise.
Saffola Kardi
Nature:
Saffola is made from the finest quality natural kardi seeds.
Heart:
Kardi oil has the highest amount of Polyunsaturated Fatty Acid amongst all vegetable oils. Saffola
when taken as a part of a low saturated fat diet may help reduce cholesterol levels. Lowering of
cholesterol is known to reduce the risk of heart disease (C.H.D).
Family:
It is recommended that a low saturated fat diet be followed from an early age. Saffola provides
good health for the entire family including children.
Taste:
Saffola is healthy and also helps to bring out the natural taste of your food.

Saffola Salt
Saffola salt is the "healthier" choice in salt. It is a salt with less sodium and higher Potassium and
Calcium than ordinary salt. As salt is an integral part of all cooking, Saffola salt becomes a medium
that can make all the food cooked at home healthier and better for the heart.
Evolution:
Saffola salt rose as the result of a continuing consumer demand for more "Good for the Heart"
products from Saffola.
Our Consumers:
Saffola consumers are those who are health conscious, wishing to switch to products good for them.
Also anyone who recognises the risk of heart problems and wishes to prevent them by using
healthier cooking additives.
Contributors to Saffola Salt's success:
Many decades of brand building by the mother brand "Saffola" and a genuine and effective low
sodium formulation.

Saffola Healthy Heart Foundation
Did you know that urban males under the age of 40 are the fastest growing segment of Indian heart
patients? And that 6 out of 10 people having heart trouble discover it too late?
And yet, heart disease is one of the most easily preventable ailments. All it takes is a timely heart
checkup to put you at ease or warn you if you are at risk, so that you can modify your lifestyle
accordingly.
The Saffola Healthy Heart Foundation was formed with the objective of educating people about
Heart care. Over the years the foundation has conducted numerous activities spanning Heart
checkup camps, Health talks, Education programmes for bodies like the Police force, executives and
underprivileged.
The topics that the foundation addresses pertain to Heartcare interventions such as Exercise,
Dietcare, Stress management and Timely diagnosis. With more than 50,000 members across India,
SHHF has conducted its activities in collaboration with bodies like The Indian Medical Association,
NSPHERE, Escorts Heart Institute, Apollo Hospital and Ruby Hospital and has reached out to many
lakhs of families.

Silk-n-Shine
Hair & Care's Silk-n-Shine is a post wash hair conditioner from Marico. Silk-n-Shine is a hair potion
with the goodness of fruit-vitamins that works naturally on tangled hair with a unique 3-step action,
leaving it soft and silky.
Evolution:
After a successful 3-month prototype in West Bengal , Silk-n-
Shine was launched nationally in June 2004.
Silk-n-Shine is borne out of a real need of today's women. As
they spend more and more time out of home, exposure to
pollution, dust and sunlight makes their hair rough and dry. Hair
dyes, frequent shampooing and hard water further damage hair
causing tangles. And when they try to comb out the tangles their
hair breaks.
Our consumers:
Silk-n-Shine primary target is female between 18-34 yrs, SEC AB. The brand is prevalent in the
urban sections of India but with the launch of single use sachet pack, rural market is also being
exploited.
Contributors to Silk-n-Shine success:
Success of the Silk-n-Shine brand is the result of a 360degree approach to branding. The brand has
been a pioneer in the field of merchandising, setting benchmarks in Marico for secondary packaging
and trade visibility. Silk-n-Shine has also experimented with in-serial placement in Indian Idol and
in-film placement, both of which proved to be a huge success. Besides the above, the brand has
been involved in youth activities such as BPO activation, parlor sampling, college hostel activities,
etc.

Parachute
Parachute is premium edible grade oil, a market leader in its category. Synonymous with pure
coconut oil in the market, Parachute is positioned on the platform of purity. In fact over time it has
become the gold standard for purity. From a loosely available commodity to a path-breaking brand,
Parachute pioneered the switch from coconut oil sold in tins to plastic. Parachute is also available in
pouch packs, to service the rural sectors, increasing penetration. While the positioning of Parachute
has always been on purity, the communication has evolved over time to appeal to different
consumer sets. In fact with the recent commercial " Badalte Zamane ka naya Parachute", Parachute
has appealed to the hearts of millions of young consumers. By changing its pack shape to one that
is sleek, modern and aesthetic, Parachute has kept up with the demands of modern, young India
and proved its endeavor to always remain relevant. Parachute has thus ensured that it enjoys
tremendous equity and trust with every passing generation.
The Consumers:
Parachute's primary target has been women of all ages. The brand has a huge loyalty, not only in
the urban sections of India but also in the rural sector.
Innovations in Parachute:
To support its continuing endeavour to provide high quality Parachute Coconut Oil to its consumers,
Marico has been constantly innovating for this brand. Some of the examples of innovation for
Parachute are:

• Flip Top Cap for Parachute bottles to enhance the
safety and protect the purity of Parachute
• Easy Jar of Parachute to facilitate usage especially
during winters
• Parachute Mini - a bottle shaped small pack being
sold at an MRP of Re. 1
• 20 ml Parachute - a Rs 5 SKU that enables loose oil
users to upgrade to Parachute.
These innovations have not only ensured protection of existing franchise, they have propelled
further penetration, enabling conversion of loose oil consumers to packaged Parachute Coconut Oil.
Contributors to Parachute's success:
One of the first brands to utilize mass communication, Parachute started with the `caring' platform
of the 'mother - daughter' theme to underline the message that this was a brand handed down from
and to generations. Today, a completely new look, logo and the new aesthetic shape have helped
attract the youngsters. With every new change and innovation, the one thing that remains constant
is the genuine, warm and inspiring character of Parachute, which has won the trust of millions of
Indians. .The quality of the product has contributed to its lasting success. The consistency, with
which Parachute has delivered, ensures consumer loyalty and trust in the brand. Innovations in the
packaging whether from the aspect of user-friendliness or aesthetics have and continue to help
Parachute grow.

Parachute Aftershower Hair Cream
Parachute Aftershower Hair Cream for men, is a hair styling cream that can be used daily to style
your hair. It has Aqua Moisturisers & since it is made in an oil-in-water emulsion, it is completely
non-sticky. Parachute Aftershower Hair Cream contains coconut milk proteins which keeps hair
nourished.
Evolution:
The need for males to look good has never been more
important. More and more males in India are realizing the
importance of “great looking hair” & want a product that can be
used to “style hair daily.”
Parachute Aftershower Hair Cream was launched in Mumbai in
March 2005, as a prototype (test-market). Within 2 months of
its launch in Mumbai, it grabbed an impressive 28% market
share, which it has increased (October'05 %MS is 36%). It was
launched pan India in August 2005. Within 3 months of its
launch (October 2005), it has touched a 25% market share of
the All India hair cream market.
Our Consumers:
Our consumers are young males, SEC A,B 15 - 34 years, who are medium to heavy users of hair oil.
They are heavily dependent on the use of shaving gel, foam, deos and colognes. These young males
want a hair styling product, which is non sticky and can be used everyday.
Contributors to Parachute Aftershower hair cream’s success:
The brand has been launched nationally only in August 2005, hence cannot qualify as a success yet.
However if the prototype results are anything to go by, we firmly believe that it has the necessary
recipe for success, which is a combination of – a great product (non sticky & good fragrance) and a

compelling proposition (“Style on…everyday”) aimed at an unfulfilled consumer need. Moreover, the
product has proved to be a winner in consumer research. Last but not the least the equity of the
Parachute brand name is ranked as one of the most trusted brands in India.

Parachute Advanced
Parachute Advanced refined hair oil (with fruity perfume) is the latest introduction from Marico.
Parachute has always strived to remain relevant to every new generation. It is a brand that is
backed by years of trust and heritage and it aims at using the same equity to appeal to the young
Indian consumer. Launched in 2004, the Parachute Advanced refined hair oil comes packed in a
sleek looking, light blue translucent bottle.
The Consumer:
Today's young Indian consumer is very aware of the brand Parachute. She is modern in outlook,
she is demanding and she knows she has several choices in brands. She believes in the goodness
and the nourishing properties of coconut oil. But she is also exposed to different brands that are
great in terms of looks and sensorial. While she may still believe in the goodness Parachute offers,
she needs a product that is in tune with her current needs.
Consumer Verbatim:
"Coconut oil is good but I don't like the coconut smell."- Pooja - 18 year old from HR College. "I
know that coconut oil is very nourishing but why does it have to be sticky?" - Rhea - 16year old -
from Jai hind College.
The Product:
The product is a direct result of consumer needs. Parachute Advanced is refined coconut hair oil
with a pleasing fruity fragrance. It is also lighter than other coconut oils, which makes it ideal for
the young, appearance conscious consumer.
The Approach:
The entire communication package is single minded towards driving the fragrance aspect of the oil.
Aimed at the young target audience, it showcases their life and shows how the product is relevant
to them.

Parachute Jasmine
Parachute Jasmine is a light, fragrant oil that can be used everyday to nourish and sytle your hair.
It has the goodness of pure coconut oil and the essence of fragrant jasmine to give you healthy,
non-sticky, free flowing and fragrant hair.
Evolution:
Traditional hair oils, while delivering nourishment, left hair
feeling sticky and smelly. With the evolution of style and fashion,
social sanction for oily “chipku” hair is rapidly on the wane.
Research among hair oil users indicated a strong level of
dissatisfaction with the odour and stickiness of hair after using
traditional hair oils.
In order to address this need, Parachute Jasmine was designed
as a hair oil that gave a consumer the ideal blend
of nourishment and sensorials delivered through a completely non-sticky format with a lingering
fragrance. This makes it great post-wash oil, which leaves the hair nourished, yet fragrant and free-
flowing.
The Parachute Jasmine Woman:
The Parachute Jasmine woman is between 18 – 24 years is confident and progressive yet has her
roots in traditional values and culture. Though she faces the challenges of the modern world
confidently, she takes the best out of tradition and blends it to suit her modern needs.
The Heady Smell Of Success:
Parachute Jasmine is the most successful new brand launch from Marico's stable in the recent past.
The strong product proposition backed by insightful communication, strong distribution and
activation support has seen dynamic growth with 63% CAGR in the past 4 years. It is now a strong

No. 2 player in the growing VACNO (Value Added Coconut Oil) Sensorial sub-category with a 30%*
market share. (*A.C Nielsen Nov 05).
Revive
Revive is an Instant Cold Water Starch, the ONLY product of its kind. Formulated with the latest
International technology to give clothes uniform, strong starching, it is uniquely positioned on the
platform of making your 'Clothes Look Like New".
Evolution:
Launched in 1993, this product created a market where none existed. It continues being the only
Instant Cold Water Starch in the country. Over the years, Revive has fought fiercely against the
competition of home made starches like rice water and arrow root and has reached a penetration of
40% among starching house holds. Revive has been upgraded on two critical parameters - stiffness
and solubility.
Our Consumers:
The key consumers for Revive are housewives who regularly starch their clothes. Most of them are
from the urban part of the country with a middle or upper middle class skew.
Contributors to Revive's Success:
Revive created a market for Instant starch, when there was none. It continues to be the only
product of its kind. Revive is not just innovative but also consistently delivers superior performance.
The communication has always been endearing so as to help the brand gain new consumers over
the years.

Sil
Sil is a processed food brand. It has a wide range of exciting products such as Jams, Sauces, Baked
Beans, Chinese Vinegar, Sweet Corn Soup and Mayonnaise. Sil stands for products that offer "Lip-
Smakin' Goodness".
Evolution:
Sil started as a processed fruit and continental food brand with a variety of foods in cans and
bottles. The range was rationalized after Marico started managing the brand in 1993. Today, Sil is
the No.2 brand in the Jams category and a leading player in all its other processed food segments.
Our Consumers:
Sil has a range of products, consumed by people of all ages. From jam to chilli sauces, the brand
has caught on not just in the metros but also in smaller urban towns.
Contributors to Sil's Success:
The Sil range has great tasting products based on well - researched recipes. The packaging was
made more attractive at Marico and suddenly, the appearance of the products looked like 'fun'. The
advertising, positioned on the idea of how adults need to act like children sometimes, had full grown
adults speaking, acting and even crying like little children.

Hair & Care
Marico’s Hair & Care, a pleasantly perfumed non-sticky hair oil is a strong brand in its category. It is
positioned on the platform of being the lightest perfumed hair oil offering both “Style &
Nourishment”. Hair & Care is upto 50% non sticky than any other hair oil & is enriched with “Herbal
Proteins”, which nourishes hair with their natural goodness. Herbal Proteins are extracted from
Neem & Tulsi, a process patented by Marico.
Evolution:
Launched in 1990, in the non-sticky hair oil category, Marico's Hair & Care is consistently
maintaining a steady market share.
Our Consumers:
Marico's Hair & Care has always appealed to both men and women of all age groups, but the
primary user set has always been those in the younger age group. The brand is popular among both
the urban and rural sections of India.
Contributors to Marico's Hair & Care's success:
Marico's Hair & Care has been the innovator in packaging for this category. Packed in a modern
looking unbreakable bottle, it has been continuously innovating itself and successfully differentiated
itself vis-a-vis other players in the market.
Hair & Care also extended itself into more modern formats of hair care which includes Silk-N-Shine,
a post wash hair conditioner with goodness of fruit vitamins.

Sweekar
Sweekar is a national brand comprising of Refined Sunflower Oil. Sweekar has become synonymous
with good quality light edible oil. It is positioned as a light and healthy cooking medium.
Evolution:
The Sunflower category emerged in 1988 - 89 and Sweekar quickly became one of the leading
brands in this category. The positioning of Sweekar has evolved over time- from the initial stand of
lightness and 88% saturated, fat-free - to that of "Achcha Khana, hansi khushi ka Khazana" - to
that of "Aapke haath mumkin har baat". It continues to be one of the leading brands among refined
oils in the consumer packs market.
Sweekar Low Absorb Oil:
In its quest to provide higher value to its consumers, Marico
launched Sweekar Low Absorb Oil - India 's first low absorb oil,
during the third quarter of 2001-02. Food cooked in this absorbs
less oil providing the consumers the twin benefits of health and
economy. University Department of Chemical Technology
(UDCT), an institute of international repute has verified the
claim.
Our Consumers:
Sweekar's primary target has been housewives (age 25 +). The brand has caught on as a product
that the best in the market.
Contributors to Sweekar's Success:
The positioning of Sweekar as 88% saturated, fat-free oil with Low Absorb properties and the new
look pista colour packs contributed to improved perception of the brand.

Oil of Malabar
Oil of Malabar is premium quality edible grade coconut oil. This brand is one of Marico's recent
acquisitions, having been bought in November 1999. Oil of Malabar, as the name suggests, is
positioned on purity - as the oil from the land of coconuts.
Evolution:
Launched in 1992, the brand has grown in stature to become a national brand. Today, it sells in
over fifteen states across India , with a strong rural presence. Ever since its launch, the brand has
been known for its quality and was amongst the earliest to launch flexi/pouch packs to tap the vast
rural market.
Our Consumers:
Oil of Malabar's consumer franchise spans women of all age groups. As mentioned earlier, the brand
has a strong rural presence.
Contributors to Oil of Malabar Success:
This brand's success hinges on its two strengths - its quality and Marico's distribution strength
across urban and rural India .

Shanti Badam Amla
Launched in April 2005, Shanti Amla marks Marico's successful entry in the Amla+ Hair Oil market.
It is launched on the platform of "Goodness of Badam with Amla".
Evolution:
As part of its growth strategy in the hair oil segment, Marico has been increasing its presence in all
the categories of this segment with products straddling different price points. In the Amla category,
Marico saw the opportunity of a product proposition that offers "goodness of Amla at an amazingly
affordable price". Accordingly in January 2001, Marico entered the Rs.270 crore Amla market with
the launch of its ninth brand, Shanti Amla. Shanti Amla was first launched in U.P, which is the
largest Amla oil market, and then rolled out nationally.
With Shanti Amla, Marico had increased its presence in the hair oil space. The brand has been
consistently growing in market share and is a clear no. 2 in the Amla category. This brand has now
been re-launced on Value Added Amla platform with the addition of Badam Oil in Amla.Currently we
are at 10.5% market share.
Our Consumers :
Our primary consumers are Amla hair oil users who are looking at a good Amla oil with value
addition at an affordable price.
Contributors to Shanti Amla’s success :
Shanti Amla is high quality Amla hair oil, positioned on the value-for-money platform - "Goodness of
Amla at an amazingly affordable price”. This marketing proposition was well supported by Marico’s
distribution network. The brand was so well received that in the first 6 months itself, the brand
mopped up a market share of about 7 % in a market, which was hitherto dominated by a single
player. The brand’s market share has been growing steadily since then.

International Business Group (IBG)
Marico's International Business Group is within the top three export divisions amongst Indian
Consumer Goods companies. Marico reaches out to more than 20 countries in the Middle East, Asian
sub-continent, Australia and USA. Marico's product offerings in the international markets include
Parachute Coconut Oil, Perfumed Oils, Hair Creams and Edible oils. IBG has now obtained Export
House status.
Evolution:
The International Business Group was formed in early 90's to cater mainly to the demand of Indians
settled abroad. The Business was then small and it has over the years assumed increasing
proportions with a phenomenal topline growth rate of more than 30%. Initially Marico exported only
Parachute Coconut Oil. Now it caters to varying needs of customers in different countries with
offerings in hair oils, hair creams and edible oils also.
Customising for local needs:
To cater to customers who belong to diverse cultures and consumer habits the International
Business Group has been customizing its products. For example, it offers perfumed oils to
consumers in Bangladesh and Hair Creams and Hair Oils (with lower coconut oil content) to Arabs in
the Gulf.
Market shares of Marico's brands overseas have been rising. Parachute Coconut Oil is the market
leader in Bangladesh with almost half the market share while other hair oils and hair care products
have been consolidating their share of the market. Hair Cream in Gulf is increasingly growing into a
big brand.
IBG Gulf:

The past ten years have witnessed a concretization of the Parachute brand equity in the Gulf. With a
steady growth in the hair-oil portfolio and the establishment of deep-rooted distribution, the IBG
business in the Gulf now seems headed for a rapid growth. The turnover of IBG Gulf is 35 crores
The product portfolio consits of PCNO, Hair oils, Creams and hamam ziet.
Overview on each and every product:
Category
Market
Size
Market
Share
Brands/ Variants
PCNO 1400 klpa 95% (in Premium CNO Category)
Hair Oils 2400 klpa 17%
Parachute Lite, Parachute Gold, Parachute Jasmine, Parachute
Sampoorna Parachute Hair Tonic
Hair
Creams
4000 klpa 14%
Extra Nourishing Cream Anti-Dandruff Cream Intensive Care
Cream Extra moisturizing cream Amla Cream Hamam Zait
IBG – Bangladesh (MBL)
2002:Marico established a factory on foreign soil – Bangladesh. In Bangladesh, Marico
operates through Marico Bangladesh Limited(MBL), a wholly owned subsidiary
Manufacturing facility at Mouchak, near Gazipur Marico is the first Indian company to have a
manufacturing location in Bangladesh. The steady growth of CNO franchise, with better product
quality along with direct and indirect distribution provides good opportunity for IBG business in
Bangladesh.
IBG- Other Countries
The other countries where Marico has its business are Nepal , Bhutan , SE Asia, USA , SAARC,
Myanmar and Trinidad . The product portfolio in Nepal and Bhutan consists of PCNO, Hair oils
(Parachute Sampoorna, Parachute Jasmine, Hair and Care, Shanti amla, Silk and shine etc.) and
Edible oils ( Saffola gold, Sweekar) and the turnover is around 3.5 crores. The product portfolio in
SE Asia, USA , SAARC is PCNO and turnover is around 2 crores.
IBG's product offering: The portfolio comprises
• Parachute Coconut Oil

• Parachute Gold - a hair oil
• Parachute Lite hair oil
• Parachute Sampoorna hair oil
• Parachute Amla hair oil
• Parachute Jasmine hair oil
• Hair Cream - Extra Nourishment, Anti Dandruff and Intensive Care variants
• Hamam Zeit
• Parachute Beliphool hair oil
• Silk n Shine hair conditioner
• Saffola and Sweekar Refined edible oils
MBL, acquired soap brand ‘Camelia to signal its entry into the Toilet Soaps market in Bangladesh in
early 2005. In Oct 2005, MBL, also acquired the Toilet soap brand ‘Aromatic’ from Aromatic
Cosmetics Ltd which enjoys a high brand equity and has a strong recall amongst consumers. MBL
enjoys a strong distribution reach of about 29,000 outlets through Parachute. The Soap brands can
ride this network.
Geographical Reach
• UAE, KSA, Oman, Qatar, Bahrain, Kuwait, Yemen, Lebanon, Sudan, Iran
• Bangladesh, Pakistan, Nepal, Bhutan
• USA, Singapore, Malaysia, Australia
1)
Parachute Coconut Hair Creams has been one of the most successful products of Marico in the
Gulf, ever since its launch 5 years back. It currently enjoys a market share of more than 22% in
the UAE markets. It brings the goodness of coconut in a cream format which is completely non-
greasy and has a pleasant fragrance and is easy to use. Parachute Coconut Hair Cream comes in
four different variants :
• Parachute Extra NourishmentCoconut Hair Cream - which is perfect for daily use as a
post hair wash formula which provides the necessary nourishment and shine that your

hair needs
• Parachute Extra Moisturising Coconut Hair Cream - which has a unique moisture balance
formula and Aloe Vera - which lock moisture into your hair, making it soft, silky and
easy to manage
• Parachute Intensive Care Coconut Hair Cream - use ful for dry damaged hair, it consists
of 6 vital ingredients for hair that is regularly treated with colour, perms or blow driers
• Parachute Anti Dandruff coconut Hair Cream - for itchy, flaky scalps and can control
severe dandruff giving healthy, shiny hair and a completely dandruff-free scalp
2) Parachute Hamam Zait Creams - These Post wash creams come in three variants, each offering
a unique hair treatment. After shampooing, massage the cream on the scalp with your
fingertips, leave it wrapped in hot towel for 10-15 mns before rinsing off.
3) Parachute Range of Hair Oils include the following amongst others :
• Parachute Gold Coconut Hair Oil - for nourished and lively hair. It has Coconut Oil which
penetrates upto 3 times more than any other oil. Use it before shampooing your hair
• Parachute Sampoorna Coconut Hair Oil - for strong, thick hair. An efffective combination
of natural ingredients give thick, long beautiful hair. Coconut Oil penetrates deeper to
nourish, Almond Oil helps strengthen hair while Hibiscus helps to thicken hair
IBG Then and Now
1998 2005
Turnover - Rs. Crore 12 96
Share of Total 3% 9.5%
Products PCNO PCNO
Hair Oils
Hair Creams
Soaps
Other new products
No Of Countries 12-13 25
Future Plans

The International Business Group will continue to consolidate its existing franchise, launch new
products in hair oils and other hair care / skin care categories and expand to new geographical
markets.
• Parachute is the world’s largest packaged coconut oil brand.
• Marico uses 1 out of every 25 coconuts grown in India, and 3 nuts of every coconut tree in
India.
• Marico is No. 2 in the hair oil market (up from No. 3 in 2001) with Hair & Care, Parachute
Jasmine, Shanti Amla and Nihar Naturals.
• Marico brands enjoy a leadership position (No.1 and No. 2) in most of its categories.
• 1 out of every 10 Indians is a Marico consumer.
• Marico sells over 70 million consumer packs every month.
• Marico reaches over 1.7 million retail outlets.
• Marico’s distribution network covers almost every Indian town with a population over
20,000.
• Overseas sales franchise of Marico’s consumer products is one of the largest among Indian
companies.

• Marico’s turnover and profit have been consistently growing over the corresponding quarter
of the previous year , for the past several quarters.
• Marico’s operating ROCE has been consistently above 30% for the last ten years.
• Marico ranks amongst the top 200 corporate houses in India in terms of ROCE.
• Parachute (29th) and Saffola (93rd) are amongst India’s 100 Most Trusted Brands (Brand
Equity Survey –The Economic Times –Feb '06).
• Saffola has been voted as the brand of the year twice in the last 12 years (Ad Club 1994
and Grand Effie 2005).
• Kaya has been voted as the retailer of the year in the category of beauty and wellness at
the India Retail Summit 2005.
• Intelligent Enterprise Award (Retail & Consumer Products) by Network Magazine and Ernst
& Young in 2004
• Finalist in the Wharton - Infosys Business Transformation Award in the Asia Pacific region in
2004
• STAR installation award by SAP for successful implementation of SAP in 2001
• Lakshya award from NITIE for Mi-Net in 2002

Performance at a glance
Sales &
Services
Net
Profits
Cash
Profits
Return on
Average Net
Worth
Dividend
per share*
Distribution
Payout
EVA
Share of
International
Business in Group
(Rs
Crore)
(Rs
Crore)
(Rs
Crore)
(%) (Rs) (%)
(Rs
Crore)
(%)
2002-03 775 56 78 29 0.48 54 31 9
2003-04 888 59 72 31 0.43 52 38 9
2004-05 1007 70 83 35 0.54 51 46 10
2005-06 1144 87 137 36 0.62 47 51 11
2006-07 1557 113 187 50 0.70 39 79 14
CAGR 19% 19% 24% 26%
* Previous Year figures recomputed on the nominal value of share of Re. 1

Stock Performance
THE STOCK EXCHANGE MUMBAI (BSE)
Quarter ended High * Low * Closing * Market
Capitalisation**
Avg. Volumes
per day ***
Jun. 30 2003 175 147 171 4944 16
Sep. 30 2003 219 166 195 5655 29
Dec. 31 2003 231 171 236 6851 104
Mar. 31 2004 301 210 260 7540 199
Jun. 30 2004 141# 100# 122# 7076 105
Sep. 30 2004 147 119 136 7859 128
Dec. 31 2004 189 133 169 9808 148
Mar. 31 2005 259 161 243 14094 424
Jun. 30 2005 275 232 248 14393 510
Sept. 30 2005 300 249 290 16875 94
Dec. 30 2005 370 263 361.05 20918 161
Mar. 31 2006 578 366 539.75 31306 255
Jun.30 2006 586 330 450 26100 437
Sep.30 2006 534 432 520 30160 75
Dec.31 2006 580 494 538 32764 228
* In Rupees per share of Rs. 10 each

** In INR Million
*** Number of shares ('00)
# The price adjusted for dividends and splits.
THE NATIONAL STOCK EXCHANGE (NSE)
Quarter ended High * Low * Closing * Market
Capitalisation**
Avg. Volumes
per day ***
Jun. 30 2003 175 146 171 4959 45
Sep. 30 2003 224 171 195 5655 87
Dec. 31 2003 231 183 236 6844 188
Mar. 31 2004 303 191 261 7571 454
Jun. 30 2004 142# 100# 121# 7027 211
Sep. 30 2004 147 113 136 7905 291
Dec. 31 2004 188 134 170 9846 307
Mar. 31 2005 258 155 242 14013 629
Jun. 30 2005 277 225 250 32457 324
Sept. 30 2005 305 248 290 16794 225
Dec. 30 2005 371 262 368 21359 197
Mar. 31 2006 579 371 543.1 31500 256
Jun.30 2006 576 331 440.65 25558 174
Sep.30 2006 540 435 521.7 30259 141
Dec.31 2006 573 495 543 33074 245
* In Rupees per share of Rs. 10 each
** In INR Million
*** Number of shares ('00)
# The price adjusted for dividends and splits.

Life @ Marico: The Way We Work

We have a distinct work culture that attracts people and makes them want to stay. The entire
work culture is so natural that it enhances all members to bring out the best in them, thus
encouraging individual thought.
What can be found common in every Mariconian and which is absolutely contagious, is the passion
and drive with which everyone works. We are a team of highly motivated, enthusiastic individuals.
We do things that defy traditional logic.
At Marico, we have a working atmosphere that is always open and experimentative from our
inception. Normally new joiners are ‘shocked’ with the kind of openness that exists at Marico. The
new joiners take some time to get used to it, but are ably supported by interventions like
Managerial Grid Program and the leadership demonstrating through living this value.
The existence of such an open environment fosters the exchange of ideas and views across the
organization, facilitating the flow of information. Members do not see the need to wait for a forum to
express their opinions. Members have space for diversity of opinions and points of views, not
withstanding the person’s position in the organization. Where else can you imagine a subordinate
giving an open ‘critique’ to his boss? We practice it through ‘Relationship Reviews’ which is well
accepted by the Chief. At Marico, we value Openness and consider it one of our significant
strengths. Various sources like Members Engagement Surveys, Feedback from ex-Mariconians, etc.
have validated this over the years.
At Marico, everybody is referred to as ‘Members’ and not ‘Employees’. Membership is superior to
employeeship. Employeeship connotes an employer-employee relationship and there is an exchange
of pay for work. On the other hand, Membership is about choice and voluntary participation in the
relationship between the members and organisation. We believe in Complete Trust and
Empowerment. Indeed at Marico, we have no formal monitoring of leave. In fact, there is no
recording of leave, which is of a contingency nature. This also emanates from the value of
membership that members are responsible and can balance their work and personal priorities,
depending on the contingencies.
"MBR" (Management by results) is a unique process of performance enhancement, which works
very well for us. The belief is to create the challenge and get the members to strive to give their
best.
Innovation weaves itself into the business needs and this process is institutionalized into the
organization.

At Marico we believe in giving our best. We are entrepreneurs, continually striving for
excellence. We are visionaries, passionate about building businesses. We run a highly
responsible enterprise, experiment and are truly focused about results.
No wonder we have our members saying, “Am I proud to be here? Let's just say, if I set up business
on my own, I'd run it like Marico. Exactly like Marico."
Fun @ Marico:
While we work hard, we also party harder. It’s what makes us a vibrant organization. For us
Mariconians, fun is a way of life.
Marico Day is celebrated at all manufacturing locations. This is a day of cultural and entertainment
programmes along with recognition forum. The participation is encouraged not only from the
members but also from their families.
These initiatives are not driven by HR, and are function driven. For organization wide initiatives, we
form a team of members from various functions, to drive the initiative.
‘Friday Dhamakas’ are regularly held, encouraging participation from all employees. This event
has a lot of interesting games and exercises.
Birthdays are special days at Marico. Every Marico team celebrates their members birthday durning
office hours, on the day of the birthday or the nearest working day.
External Cricket Tournaments – Saran’s Mc’Dowalds corporate cricket tournament; Matches with
our Associates like our Advertising Agency, as well as, internal matches.
Department Offsite: Respective departments go with their team to a place, and have fun.
1000 Crore Celebrations:
The best celebration that we have had this year has been the “1000 Crore evening” This was done
to celebrate the most amazing achievement of the organization, where in this year we crossed the
huge milestone of 1000 crores in turnover. This was the case of a wonderful journey started in 1990
when Marico was formed, the turnover then was 80+ crores.
The celebration was very unique in its theme, where in CMD had personally invited all the members.
The invitation was also extended to all the ex-members where ever they were - the objective was to
recognize the efforts of all members (current & ex) who have been part of this wonderful journey.
Around 120+ ex-members attended the celebration and an equal number sent their good wishes. It
was indeed an emotional evening. We had done an un-common thing of inviting ex-Mariconians to

celebrate the occasion with Mariconians. Some of the messages we got from ex-Mariconians who
could not attend the occasion were really touching. It was an evening to remember.

Marico industries limited

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