A historic Tk 536 crore in profits will be sent to India as payouts, according to plans published by Marico Bangladesh, a division of the worldwide personal care company Marico Limited, based in India. The company announced a record 1,890% interim cash dividend, worth Tk 596 crore for the April–December period of FY2024–25. Marico Limited, the company that controls 90% of the Bangladesh subsidiary will get the majority of this compensation.
A 1,000 % interim cash dividend for the April–June quarter and a 450% interim cash dividend for the July–September quarter have already been paid out by Marico Bangladesh, which has a fiscal year that ends in March. Following the record date of February 23, the remaining 440% interim cash payout, which was declared on Monday, January 27, will be distributed. The company’s net profit of Tk 458 crore from the first nine months of FY25 will be used to pay the dividend, with the remaining Tk 700 crore coming from retained earnings.
Great Performance In The Face Of Difficulties
Marico Bangladesh’s profits increased by 28% year over year to Tk 458.79 crore during the April–December period, despite the difficult business climate. In terms of the same time in FY24, revenue increased by 12% to Tk 1,245 crore. In September 2023, commercial production began at the third Mirsarai manufacturing facility.
The October-December quarter alone saw a 27% increase in profit to Tk 139.68 crore and a 20% increase in revenue to Tk 404 crore. Marico Bangladesh joined the Bangladeshi market in 1999 and is well-known for its main brand, Parachute Coconut Oil. Since then, it has grown from a single product to more than 20 brands in the food and personal care industries. With Tk 31.50 crore in paid-up capital, the firm has been listed on the Dhaka and Chittagong stock markets since 2009. Its shares closed at Tk 2,321 on the Dhaka Stock Exchange on Tuesday, January 28.
Investments Of Marico Bangladesh
Marico Bangladesh has been making significant investments in manufacturing capacity and expanding its product offerings in an effort to strengthen its position in the market. To fulfill the rising demand for food goods and coconut oil the company invested Tk29.3 crore in early 2020 to build a new manufacturing line and expand its factory in Gazipur.
Marico announced a further Tk227 crore investment later in October 2020 to further its “Made in Bangladesh” production capabilities. In order to support Marico’s long-term growth goals, this effort includes the construction of a new factory in the Mirsarai Economic Zone.
Source: The Business Standard
