Marico gains over 3% after Bangladesh operations resume to normal levels; check details

The stock opened to trade higher at ₹647 and gained further to hit the intraday high of ₹665.75 on NSE on Tuesday.

“We would like to inform you that our manufacturing operations in the country have resumed at normal scale yesterday. Operating conditions in the market have been gradually improving and a large majority of our retail sales force and distributors have been functioning since last week,” Marico said in a regulatory filing made available on the NSE portal.

“We continue to prioritise the safety of our employees, factory workers, distributors and other stakeholders of our business. As previously mentioned, we firmly believe that the medium-term prospects of Marico’s business in Bangladesh remain intact,” the FMCG major added.

Marico was among the major Indian companies whose businesses suffered from political unrest in the neighbouring country.

Bangladesh contributed 44% to Marico's international business revenue and 12% to the consolidated revenue for the FY 2023-24. The company projects the country will contribute 40% to its international business by the end of FY27 even as it works toward diversification in the international business. At around 12:45 pm, Marico Ltd shares are trading 2.12% higher at ₹658.3 apiece on NSE.

The FMCG major reported a 10% constant currency growth in the international market and 4% volume growth in the domestic market. Marico's international businesses' EBITDA margin was up 200 bps year on year to 31.6%, against 23.9% for the domestic businesses in Q1FY25.