Marico Ltd

Global fund house First State Investments Management (UK) Ltd has bought stake in FMCG major Marico Ltd for over Rs 184 crore through an open market transaction.

Having learnt their Maggi lessons hard way in 2015, the FMCG sector is desperately looking for a brighter new year with hopes pinned on revival in rural demand and push from e-commerce even as an enhanced regulatory glare would keep them on toes with regard to safety of products.

Homegrown FMCG major Marico Ltd is planning issue of bonus shares for which it is seeking shareholders nod, besides reclassifying its authorised share capital to enable the move.

Marico shares were sold at an average price of Rs 319.01 apiece, valuing the transaction at Rs 189.14 crore.

They are called FMCG or 'fast moving consumer goods' companies, but it has turned out to be a year of slow business for the sector, even as movements were quite visible in 2014 among those at the helm of affairs.

FMCG firm Marico Ltd on Friday reported an increase of 11.71 per cent in consolidated net profit at Rs 118.26 crore for the second quarter that ended on September 30, 2014.

Credit Suisse upgraded the stock to "outperform" from "underperform." It said consumer goods sector was seeing "improving consumption growth, easing input costs and benign competition".

Marico said results are not comparable with corresponding quarter last year as its skincare business 'Kaya' was demerged in October 2013.

Marico's net sales during Q4, 2013-14 went up by 7.27 per cent at Rs 1,069.81 crore, compared with Rs 997.25 crore in the year-ago period.

FMCG major Marico on Friday said it has stopped production at its plant in Dehradun and has also initiated steps to close the unit.

FMCG firm Marico Ltd on Tuesday posted a 23.27 per cent increase in consolidated net profit at Rs 105.86 crore for the quarter ended September 30, 2013-14, driven by lower expenses and increase in other income.

Maricos consolidated net profit has increased 20.33% in its fourth quarter that ended March mainly on account of robust domestic FMCG business, the FMCG Major reported on Tuesday.

"While there are headwinds arising from a broad-based slowdown, we believe the company is well placed to grow earnings by over 20 per cent per annum in the medium term," Jefferies said in a report.

FMCG firm Marico today posted a consolidated net profit of Rs 104.55 crore for the quarter ended December.

Shares of FMCG firm Marico jumped to a 52-week high on Tuesday following the company's announcement of restructuring yesterday. The stock was the top gainer on the BSE FMCG index.

Global fund house First State Investments Management (UK) Ltd has bought stake in FMCG major Marico Ltd for over Rs 184 crore through an open market transaction.

Having learnt their Maggi lessons hard way in 2015, the FMCG sector is desperately looking for a brighter new year with hopes pinned on revival in rural demand and push from e-commerce even as an enhanced regulatory glare would keep them on toes with regard to safety of products.

Homegrown FMCG major Marico Ltd is planning issue of bonus shares for which it is seeking shareholders nod, besides reclassifying its authorised share capital to enable the move.

Marico shares were sold at an average price of Rs 319.01 apiece, valuing the transaction at Rs 189.14 crore.

They are called FMCG or 'fast moving consumer goods' companies, but it has turned out to be a year of slow business for the sector, even as movements were quite visible in 2014 among those at the helm of affairs.

FMCG firm Marico Ltd on Friday reported an increase of 11.71 per cent in consolidated net profit at Rs 118.26 crore for the second quarter that ended on September 30, 2014.

Credit Suisse upgraded the stock to "outperform" from "underperform." It said consumer goods sector was seeing "improving consumption growth, easing input costs and benign competition".

Marico said results are not comparable with corresponding quarter last year as its skincare business 'Kaya' was demerged in October 2013.

Marico's net sales during Q4, 2013-14 went up by 7.27 per cent at Rs 1,069.81 crore, compared with Rs 997.25 crore in the year-ago period.

FMCG major Marico on Friday said it has stopped production at its plant in Dehradun and has also initiated steps to close the unit.

FMCG firm Marico Ltd on Tuesday posted a 23.27 per cent increase in consolidated net profit at Rs 105.86 crore for the quarter ended September 30, 2013-14, driven by lower expenses and increase in other income.

Maricos consolidated net profit has increased 20.33% in its fourth quarter that ended March mainly on account of robust domestic FMCG business, the FMCG Major reported on Tuesday.

"While there are headwinds arising from a broad-based slowdown, we believe the company is well placed to grow earnings by over 20 per cent per annum in the medium term," Jefferies said in a report.

FMCG firm Marico today posted a consolidated net profit of Rs 104.55 crore for the quarter ended December.

Shares of FMCG firm Marico jumped to a 52-week high on Tuesday following the company's announcement of restructuring yesterday. The stock was the top gainer on the BSE FMCG index.