Marico Limited , a prominent Indian consumer goods company, has announced the completion of the voluntary liquidation of its wholly-owned step-down subsidiary in Bangladesh, MBL Industries Limited (MBLIL). The liquidation process, which had been in motion for some time, reached its conclusion on September 18, 2025, following the issuance of a Winding Up Certificate by the Registrar of Joint Stock Companies and Firms, Bangladesh.

Key Details of the Liquidation

Financial Snapshot of MBLIL (as of February 15, 2025)

The voluntary liquidation of MBLIL marks the end of a subsidiary that had been inactive for over a decade and a half. Marico's decision to wind up this dormant entity aligns with common corporate practices of streamlining operations and optimizing organizational structure.

According to the disclosure made under Regulation 30 of the SEBI Listing Regulations, Marico Limited received the Winding Up Certificate from the Office of the Registrar of Joint Stock Companies and Firms, Bangladesh (RJSC&F) on October 12, 2025. This certificate officially confirmed the voluntary liquidation of MBLIL, effective from September 18, 2025.

It's worth noting that MBLIL had not been contributing to Marico's turnover, as evidenced by its nil turnover reported as of February 15, 2025. The subsidiary had been incurring losses, with an income loss of BDT 1,658,191 reported for the same period.

This corporate action is part of Marico's ongoing efforts to manage its global operations efficiently. By liquidating a non-operational subsidiary, the company can potentially reduce administrative costs and focus resources on more productive areas of its business.

Marico has assured compliance with all relevant local laws and regulations in Bangladesh regarding the liquidation process. The company has also made this information available on its website, maintaining transparency with its shareholders and the broader investment community.

As this liquidation involves a step-down subsidiary that has been dormant for years and contributed no turnover, it is unlikely to have a significant impact on Marico's overall financial position or operations. However, it does reflect the company's commitment to maintaining a lean and efficient corporate structure across its international operations.

Marico Ltd , a leading Indian consumer products company, has announced robust financial performance for the second quarter, with consolidated revenue growth in the thirties year-on-year. The company's strong performance was driven by resilient international operations and benefits from recent GST rate cuts affecting parts of its India business.

Key Highlights

• Consolidated revenue growth in the thirties year-on-year for Q2
• International business maintained robust momentum with constant currency growth in the twenties
• Modest operating profit growth expected on a year-on-year basis
• Around 30% of Marico's India business benefited from GST rationalization
• Foods and premium personal care segments continued accelerated scale-up

Demand Trends and Market Outlook

Marico reported stable demand trends throughout most of the quarter, with expectations of improved sentiment during the upcoming festive season. The company anticipates gradual improvement in consumer sentiment in the months ahead, supported by factors such as:

• Easing inflation
• Above-average monsoons
• Healthy crop outlook
• Policy stimulus

GST Impact and Pricing Strategy

The recent GST rate rationalization announced by the government has positively impacted Marico's business. Key points include:

• Approximately 30% of Marico's India business benefited from the GST rate changes
• The company has passed on the benefits of revised GST rates to consumers across relevant product categories
• This move is expected to reinforce affordability and accessibility of Marico's products

Performance of Key Segments

Parachute

• Recorded a low single-digit decline in volumes
• Demonstrated resilience despite unprecedented hyperinflationary input costs and pricing conditions
• Remained flat in volume terms after normalizing for ml-age reductions

Saffola Oils

• Delivered flattish volumes against a high base
• Achieved revenue growth in the high teens

Value Added Hair Oils

• Delivered high teens growth
• Shows a sustained recovery path

Foods and Premium Personal Care

• Maintained accelerated scale-up
• Continued diversification efforts

International Business

• Maintained robust momentum with constant currency growth touching the twenties
• Bangladesh and MENA businesses visibly outperformed

Margin Pressure and Outlook

Despite strong revenue growth, Marico expects some pressure on gross margins due to:

• High base effect
• Pricing-led high denominator effect
• Sustained high levels of vegetable oil prices

However, the company anticipates gross margin pressures to ease in the second half of the year.

Future Aspirations

Marico maintains its aspiration of delivering sustainable and profitable volume-led growth over the medium term. This will be enabled by:

• Strengthening brand equity of core franchises
• Scaling up new engines of growth

As Marico navigates through a dynamic market environment, the company remains focused on leveraging its diverse portfolio and strategic initiatives to drive growth and create value for its stakeholders.