Marico Bangladesh to invest Tk 2.27 billion in capacity expansion

The board of directors of Marico Bangladesh Ltd has decided a phase-wise investment of Tk 2.27 billion for the purpose of increasing manufacturing capacity.

Marico, one of the listed multinational companies, is also setting up operations in the Special Economic Zone under Bangladesh Economic Zones Authority (BEZA), said an official disclosure on Thursday.

Marico, the Indian fast-moving consumer goods company, listed on the Dhaka Stock Exchange (DSE) in 2009.

Each share of the company closed at Tk 2,046.10 on Wednesday.

The company disbursed a total of 950 percent cash dividend for the year ended on March 31, 2020.

In 2019, the company disbursed 650 percent cash dividend.

The fast-moving consumer goods company’s profits soared 30 percent to Tk 2.64 billion in the 2019-20 financial year as its flagship product – Parachute’s coconut oil -- continues to dominate its competition in the sector.

The other hair oils retailed through the brand include Parachute Advanced Beliphool, Nihar Naturals Shanti Badam Amla and Parachute Advanced Extra Care.

The company’s paid-up capital is Tk 315 million and authorised capital is Tk 400 million while total number of securities is 31.50 million.

The sponsor-directors own 90 percent stake in the company, while the institutional investors own 3.21 percent, foreign investors 5.39 percent and the general public only 1.40 percent as on August 31, 2020, the DSE data shows.