Mariwala envisages India to grow faster than what it has grown in the past
Harsh Mariwala knows a thing or two about building brands and sustaining them.
Having stepped down as the Managing Director of Marico, a company that he founded, Harsh Mariwala is now focusing on nurturing the next generation of entrepreneurs.
In an interview to CNBC-TV18, Harsh Mariwala, Chairman of Marico gave an update on how the company is faring post goods and services tax (GST) and what is the growth outlook.
Expect the business to return to normalcy this quarter, says Harsh Mariwala, Chairman and MD of Marico.
The founders of the company can give their valid advise to the board. The board too has to be open about founders' opinion. But in the end, it is up to the board to decide what is reasonable, and what isn't.
Listing his expectations from the upcoming Union Budget, Harsh Mariwala, Chairman of Marico hopes that the government will reduce corporate tax rates in this year's policy.
Have bought 4 lakh shares of L&T Finance Holdings at an average price of Rs 80 per share, over a period of time, said Harsh Mariwala, Chairman, Marico.
Marico Chairman Harsh Mariwala has purchased 46,000 shares in L&T Finance from the open market, reports Economic Times.
C Sivasankaran, Chairman, Siva Group, said that Mistry should have resigned on the day when he was removed from group companies. Harsh Mariwala, CMD, Kaya, also spoke to the channel.
Earlier this year, Nykaa had raised Rs 82.5 crore through private equity and family offices of Sunil Kant Munjal, chairman, Hero Group, and the family offices of Harsh Mariwala and TVS Shriram growth fund.
"The government is trying to do many things within a short period of time," says Harsh Mariwala, Chairman of Marico. Several traders are still not prepared for GST, he adds.
Speaking to CNBC-TV18 Harsh Mariwala, Chairman, Marico said that edible oil will be in the 5 percent tax slab, while hair oil will be under 18 percent. He also added that it will be guesswork. â€œWe will have to wait and watch,â€ he said.
Harsh Mariwala, CMD, Kaya says 22 percent is an effectiver GST rate for fast moving consumer goods (FMCG) companies. He also says that any sin tax below 40 percent will be beneficial for the industry.
Marico Chairman Harsh Mariwala says he expects Goods and Services Tax (GST) Bill to come through in March 2017 as many issues are yet to be resolved.
Adi Godrej, chairman, Godrej Group, said chasing high return on equity should not be the focus of any management. He said streamlining businesses processes and capital management are key to strong growth
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Chairman Harsh Mariwala says Marico sees 25 percent of its turnover coming from rural India, while the balance comes from urban areas. Going ahead, he is hopeful that urban demand will start picking up soon
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Marico chairman Harsh Mariwala says the current spate of rains are just the first part of monsoon. Until it continues in the same pace, it is difficult predict improved crop production.
Personal care and beauty services provider Marico Kaya Enterprises posted a robust set of numbers in its third quarter ended December.
Harsh Mariwala, Chairman of Marico, hopes to see some positive rub-off effect of falling crude prices on other commodities also, like coconut oil.
The company has not deliberately increased the number of clinics in the last 2-3 years, says Harsh Mariwala of Marico Kaya Enterprises. He believes there is a need to go in for higher capacity utilisation in existing Kaya clinics.
GST is a comprehensive tax reform that proposes to replace the plethora of indirect taxes levied by states and the Centre with one tax.