Marico on Bangladesh unrest: 'We remain watchful…manufacturing operations to resume soon'

Marico is targeting a reduction in Bangladesh's contribution in global operations from current 51 percent to 40 percent by 2027. (Photo: Pixabay)

FMCG major Marico on August 7 said that it hopes to resume the manufacturing operations in Bangladesh. In a stock exchange filing, the company said that the operating conditions in Bangladesh market are improving “gradually”. However, the company added “we remain watchful”.

The company also added that the safety of all employees, factory workers in all manufacturing units is its primary priority. While the manufacturing operations have been stalled due to the ongoing unrest, majority of Marico’s retail sales force and distributors have now resumed business, the statement said.

"We firmly believe that the medium-term prospects of Marico’s business in Bangladesh remain intact," Marico said.

"Within the international business, Bangladesh registered 10% CCG (constant currency growth) as the business stayed resilient and sustained its momentum. South-East Asia was flat in CC terms, as the recovery in HPC demand in Vietnam was offset by a weak quarter in Myanmar. MENA delivered 20% CCG with both the Gulf region and Egypt faring well. South Africa registered 28% CCG driven by the ethnic hair care segment. NCD and exports posted 14% growth," Marico said in its FY25Q1 investor presentation.

Marico shares registered a rebound on August 7, ending 3.4 percent higher at Rs 650. A day earlier on Tuesday, the company stocks witnessed a 6.5% decline.