Marico Limited has announced a senior management change with the resignation of Mr. Akash Banerji, Executive Vice President & Head of Digital Transformation and Beauty & Styling Digital Business. The company informed stock exchanges about this development through a regulatory filing on February 12, 2026.

Resignation Details

Mr. Banerji submitted his resignation on February 6, 2026, expressing his intention to pursue entrepreneurial opportunities outside the organization. The resignation letter was addressed to Mr. Saugata Gupta, Managing Director & CEO of Marico Limited.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The intimation was sent to both BSE Limited (Scrip Code: 531642) and National Stock Exchange of India Limited (Scrip Symbol: MARICO).

Marico's Company Secretary & Compliance Officer, Vinay M A, signed the regulatory filing, ensuring compliance with SEBI Master Circular requirements. The disclosure has also been made available on the company's investor relations website.

Management Transition

The resignation represents a change in Marico's senior management personnel, specifically affecting the digital transformation and beauty & styling digital business divisions. Banerji's departure is scheduled for May 31, 2026, providing the company with a transition period of approximately three and a half months from the resignation date.

The company has provided all requisite details as per SEBI regulations, including the resignation letter and formal disclosure documentation to maintain transparency with stakeholders and regulatory authorities.

Marico Limited has announced a strategic acquisition that will significantly expand its direct-to-consumer (D2C) footprint in Vietnam's rapidly growing beauty market. The company's wholly owned subsidiary, Marico South East Asia Corporation (MSEA), has entered into definitive agreements to acquire a 75% stake in Skinetiq Joint Stock Company, a Vietnamese skincare company.

Acquisition Details

The strategic investment involves acquiring 75% of Skinetiq's total shares from existing shareholders for an aggregate consideration of up to VND 750 billion, equivalent to INR 261.6 crores based on the conversion rate as of February 06, 2026.

The first tranche will be paid upon receipt of 75% of total shares, while the second tranche is subject to fulfillment of certain terms and conditions under the definitive agreements. Additionally, MSEA has the right to acquire the remaining shares of Skinetiq after completion of FY28, subject to achievement of certain milestones and requisite approvals.

About Skinetiq Joint Stock Company

Skinetiq Joint Stock Company was established in Ho Chi Minh City, Vietnam on January 9, 2020. The company was co-founded by Mr. Bui Ngoc Anh and Ms. Hannah Nguyen, a leading beauty blogger in Vietnam with more than 1.5 million followers on both TikTok and Facebook.

The company owns the digital-first science-backed skincare brand "Candid" and holds exclusive distribution rights in Vietnam for the globally renowned luxury clinical skincare brand "Murad". Candid offers clinically proven active ingredient-based skincare products catering to the mid-premium market, including:

• Retinol treatments
• B5 Cica barrier-repair creams
• Multi-layer hydration masks
• AHA/BHA/PHA exfoliants
• Niacinamide + vitamin C brightening masks
• Peptide-based eye care products

Financial Performance

Skinetiq has demonstrated strong revenue growth over the past three years, with the majority of its revenues generated through online channels:

The company has scaled to INR 152 crores in revenues in CY2025 with a sustainable mid-twenties EBITDA margin profile, representing significant growth from INR 45 crores in CY2023.

Strategic Rationale

According to Saugata Gupta, MD and CEO of Marico Limited, "The investment in Skinetiq reflects our commitment to building a strong premium beauty play in Vietnam and advancing our D2C strategy internationally. Vietnam remains a priority market for us, driven by its strong macroeconomic fundamentals and rapidly evolving beauty landscape."

The transaction aligns with Marico's long-term strategy of building a strong premium beauty presence in Vietnam while enabling participation in the country's growing D2C beauty market. Vietnam's beauty industry is undergoing a remarkable shift, with approximately 50% of category consumption now driven by e-commerce and social commerce channels.

Transaction Timeline and Approvals

The acquisition requires approval from the Department of Finance in Vietnam and is expected to be completed within 90 days from the date of signing definitive agreements, subject to receipt of requisite regulatory approvals and customary closing conditions. The consideration will be paid entirely in cash.

Upon completion of the acquisition, Skinetiq will become a subsidiary of MSEA and consequently a subsidiary of Marico Limited. The acquisition does not fall within related party transactions, and the promoter/promoter group of the company do not have any interest in the transaction.

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