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Marico Bangladesh

Full company profile

uuid002bihv

Namestring
Marico Bangladesh
Legal namestring
Marico Limited
Websiteurl
marico.com
Company typeenum
Public
Founded yearint
1988
Descriptiontext

Marico Bangladesh is a wholly-owned regional subsidiary of Marico Limited, an Indian-listed FMCG major (BSE: 531642; NSE: MARICO), and manufactures and distributes beauty and wellness products for the Bangladeshi consumer market. Established in 2000 and headquartered in Dhaka with 251–500 employees, the entity operates within Marico Limited's broader international portfolio spanning 25 countries across Asia and Africa. Its product portfolio spans coconut oils (Parachute), value-added hair oils (Parachute Advansed, Nihar Naturals), personal care (Livon, Hair & Care, Mediker, Beardo), edible oils and foods (Saffola, True Elements, 4700BC), and fabric care (Revive) — leveraging parent-level brand equity and multi-channel distribution.

The parent group's go-to-market is a sales-led, multi-channel model engaging 805 business associates and reaching consumers via general trade, modern trade, retail partnerships, brand-specific e-commerce storefronts, and telemarketing. Pricing follows mass-market FMCG economics sold at Maximum Retail Price (MRP) through retail channels; 95% of the parent's portfolio enjoys market leadership, and group-level turnover reached ₹13,611 Crore in FY26 with ₹1,762 Crore recurring consolidated PAT in FY25. Marico Bangladesh captures a share of the parent's 24% overseas revenue pool but no country-level financial disclosure is available.

Revenue mechanics are driven by volume sales of branded SKUs across mass-market consumer segments in Bangladesh, with no enterprise or B2B customer concentration. Distribution and manufacturing scale are inherited from the parent's integrated supply chain, including sustainability programs (Parachute Kalpavriksha Foundation, 1.22 lakh enrolled farmers) and ESG commitments (carbon neutrality by 2040, 72.68% renewable energy share). Recent strategic moves relevant to Bangladesh include the 2025 Parachute Advansed Protein Shampoo launch, the 2024 CMO appointment, and the group's ongoing digital-first brand acquisitions.

Short descriptiontext

Marico Bangladesh is a wholly-owned subsidiary of Marico Limited that manufactures and distributes branded beauty, wellness, hair care, and edible oil products to Bangladeshi consumers through multi-channel retail and distribution networks.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
251–500
akta.pro rankint
HeadquartersDhaka, Bangladesh
HQ citystring
Dhaka
HQ countrystring
Bangladesh
HQ regionstring
Asia
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
hair care oils, personal care products, edible coconut oil, fast-moving consumer goods, beauty and wellness
Industry3 codes
1Hair Care (Shampoo, Conditioner, Styling, Treatments)
CodeCRADANAEPrimaryYes
2Hand & Body Care (Lotions, Creams, Body Oils)
CodeCRADANACPrimaryNo
3Coconut Oil Processing
CodeAFAKAEADPrimaryNo
NAICS code2 codes
  • Starch and Vegetable Fats and Oils Manufacturing31122
  • Soybean and Other Oilseed Processing311224
SIC code1 code
  • Perfumes, Cosmetics & Other Toilet Preparations2844
Product category
Personal Care FMCG
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model1 record
1Consumer Products Sales
TypeOne Time License
Description

Marico generates the vast majority of its revenue through the sale of branded FMCG products across categories including coconut oils, edible oils, foods, hair oils, personal care, and fabric care. The company recorded a consolidated turnover of ₹13,611 Crore in FY26 and Recurring Consolidated PAT of ₹1,762 Crore in FY25.

marico.com
Marketing channels4 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels5 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components5 values
Supply Chain, Marketing or Sales, Personnel, Operations, Infrastructure
GTM typeB2C
B2C
Offering typeHardware or Manufacturing
Hardware or Manufacturing
Brand1 of 19 records shown
1Parachute
Description

Coconut oil and hair care brand — includes Parachute Advansed, Parachute Kalpavriksha (coconut farmer empowerment)

marico.com
+18 more records
Core offering1 text field

Marico Bangladesh manufactures, markets, and distributes fast-moving consumer goods (FMCG) in Bangladesh, primarily coconut-based hair oils and personal care products. The company operates as a local manufacturing and brand-building entity serving Bangladeshi consumers with everyday grooming and wellness essentials. Its portfolio spans hair care, edible oils, and select personal care categories produced and packaged within Bangladesh.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 7 values shown
  • 1 in 3 Indian lives are touched by Marico products
+6 more records
Product overview1 text field

Marico operates a diversified portfolio of consumer brands across hair care, personal care, edible oils, and foods categories. The company follows a multi-brand strategy with distinct brand architectures: (1) Core flagship brands including Parachute (coconut oils), Saffola (edible oils and foods), and Nihar (hair care); (2) Premium personal care brands including Livon and Parachute Advansed; (3) Digital-first direct-to-consumer brands including Beardo, Just Herbs, Plix Life, and True Elements; and (4) Specialized categories including fabric care (Revive) and licensed personal care (Kaya). The company serves consumers across India through both traditional retail and e-commerce channels.

Product and service5 records
1Parachute Coconut Oil
CategoryHair Care
2Nihar Naturals Hair Oil
CategoryHair Care
3Parachute Beliphool Hair Oil
CategoryHair Care
4Marico Edible Coconut Oil
CategoryEdible Oils
5Saffola Edible Oil
CategoryEdible Oils
Scale indicator18 records

Each record includes

Type, Value, Description, Source

Partnership1 partner
Strategic tierCoreTypeOthers
Description

Marico has established the Marico Innovation Foundation as a separate entity dedicated to fostering innovation beyond Marico's core business. The foundation operates independently to identify and support innovative practices and ideas.

Recent move4 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight5 records

Each record includes

Type, Description

Peers10 records
TypeBroad incumbent
Description

Large diversified Indian conglomerate with a broad FMCG portfolio spanning personal care (Fiama, Vivel), foods (Aashirvaad), and stationery. Overlaps with Marico in personal care and foods but is a much larger incumbent with broader scope.

TypeDirect peer
Description

India's largest FMCG company with overlapping portfolios in hair care (Clinic Plus, Dove, Tresemmé), personal care, and foods. Direct competitor to Marico across multiple categories with significantly larger distribution and marketing scale.

TypeBroad incumbent
Description

Subsidiary of global FMCG major with leadership in oral care and personal care in India. Comparable to Marico on retail distribution and personal-care category management, but narrower category focus.

TypeEmerging player
Description

Fast-growing Indian Ayurvedic FMCG challenger with strong positions in hair oils, personal care, foods, and edible oils. Directly comparable to Marico on Ayurvedic and value-segment positioning and a key disruptive threat to traditional players.

TypeDirect peer
Description

Indian FMCG player in hair care (Godrej Expert), personal care, and home care, with significant emerging-markets presence. Comparable to Marico on category mix and international expansion strategy.

TypeDirect peer
Description

Indian FMCG challenger in personal care (Chik shampoo, Fairever, Meera), hair care, and foods. Directly competes with Marico in shampoo entry, hair oils, and D2C/personal care adjacencies.

TypeDirect peer
Description

Indian FMCG major with strong positions in hair oils (Dabur Amla), Ayurvedic personal care, oral care, and health supplements. Directly comparable to Marico in hair oils and Ayurvedic personal care (Just Herbs).

TypeDirect peer
Description

Focused Indian hair-oil company (Bajaj Almond Drops, Brahmi Amla). Highly comparable to Marico's Parachute and Nihar franchises in the value-added hair oil segment.

TypeRegional player
Description

Bangladesh subsidiary of Unilever competing in hair care, personal care, and home care. Regional peer particularly relevant given Marico Bangladesh's local market operations in beauty and wellness.

TypeDirect peer
Description

Indian FMCG company focused on hair oils (Navratna, BoroPlus), Ayurvedic personal care, and health products. Direct competitor in hair oils and personal care with overlapping distribution and marketing channels.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat4 records

Each record includes

Type, Details

Key risks5 records

Each record includes

Headline, Details, Source

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment2 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles1 record

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

Subsidiaries4 records

Each record includes

Name, Acquired on, Relationship type, Type, Business focus

Compliance3 records

Each record includes

Name, Class, Description

Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Marico Bangladesh

Personal Care FMCGmarico.com

Marico Bangladesh is a wholly-owned subsidiary of Marico Limited that manufactures and distributes branded beauty, wellness, hair care, and edible oil products to Bangladeshi consumers through multi-channel retail and distribution networks.

What Marico Bangladesh does

Marico Bangladesh is a wholly-owned regional subsidiary of Marico Limited, an Indian-listed FMCG major (BSE: 531642; NSE: MARICO), and manufactures and distributes beauty and wellness products for the Bangladeshi consumer market. Established in 2000 and headquartered in Dhaka with 251–500 employees, the entity operates within Marico Limited's broader international portfolio spanning 25 countries across Asia and Africa. Its product portfolio spans coconut oils (Parachute), value-added hair oils (Parachute Advansed, Nihar Naturals), personal care (Livon, Hair & Care, Mediker, Beardo), edible oils and foods (Saffola, True Elements, 4700BC), and fabric care (Revive) — leveraging parent-level brand equity and multi-channel distribution.

The parent group's go-to-market is a sales-led, multi-channel model engaging 805 business associates and reaching consumers via general trade, modern trade, retail partnerships, brand-specific e-commerce storefronts, and telemarketing. Pricing follows mass-market FMCG economics sold at Maximum Retail Price (MRP) through retail channels; 95% of the parent's portfolio enjoys market leadership, and group-level turnover reached ₹13,611 Crore in FY26 with ₹1,762 Crore recurring consolidated PAT in FY25. Marico Bangladesh captures a share of the parent's 24% overseas revenue pool but no country-level financial disclosure is available.

Revenue mechanics are driven by volume sales of branded SKUs across mass-market consumer segments in Bangladesh, with no enterprise or B2B customer concentration. Distribution and manufacturing scale are inherited from the parent's integrated supply chain, including sustainability programs (Parachute Kalpavriksha Foundation, 1.22 lakh enrolled farmers) and ESG commitments (carbon neutrality by 2040, 72.68% renewable energy share). Recent strategic moves relevant to Bangladesh include the 2025 Parachute Advansed Protein Shampoo launch, the 2024 CMO appointment, and the group's ongoing digital-first brand acquisitions.

Marico Bangladesh firmographics

Firmographics
Name
Marico Bangladesh
Legal name
Marico Limited
Website
https://marico.com
Company type
Public
Founded year
1988
Operating status
Operating
Headcount range
251–500 employees
Short description
Marico Bangladesh is a wholly-owned subsidiary of Marico Limited that manufactures and distributes branded beauty, wellness, hair care, and edible oil products to Bangladeshi consumers through multi-channel retail and distribution networks.
Ownership category
akta.pro rank

Marico Bangladesh industry classification

Industry
Product category
Personal Care FMCG
NAICS
Starch and Vegetable Fats and Oils Manufacturing (31122), Soybean and Other Oilseed Processing (311224)
SIC
Perfumes, Cosmetics & Other Toilet Preparations (2844)
akta.pro primary industry
Hair Care (Shampoo, Conditioner, Styling, Treatments) (CRADANAE)
akta.pro secondary industries
Hand & Body Care (Lotions, Creams, Body Oils) (CRADANAC), Coconut Oil Processing (AFAKAEAD)

Keywords

  • Hair care oils
  • Personal care products
  • Edible coconut oil
  • Fast-moving consumer goods
  • Beauty and wellness

Where Marico Bangladesh is headquartered

Location

Headquarters

HQ city
Dhaka
HQ country
Bangladesh
HQ region
Asia

Offices1 record

Markets served

Marico Bangladesh business model

Business model
GTM type
B2C
Offering type
Hardware or Manufacturing
Cost components
Supply Chain, Marketing or Sales, Personnel, Operations, Infrastructure

Revenue model

  1. Consumer Products Sales: Marico generates the vast majority of its revenue through the sale of branded FMCG products across categories including coconut oils, edible oils, foods, hair oils, personal care, and fabric care. The company recorded a consolidated turnover of ₹13,611 Crore in FY26 and Recurring Consolidated PAT of ₹1,762 Crore in FY25.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Marico Bangladesh product offering

Product offering

Core offering

Marico Bangladesh manufactures, markets, and distributes fast-moving consumer goods (FMCG) in Bangladesh, primarily coconut-based hair oils and personal care products. The company operates as a local manufacturing and brand-building entity serving Bangladeshi consumers with everyday grooming and wellness essentials. Its portfolio spans hair care, edible oils, and select personal care categories produced and packaged within Bangladesh.

Product overview

Marico operates a diversified portfolio of consumer brands across hair care, personal care, edible oils, and foods categories. The company follows a multi-brand strategy with distinct brand architectures: (1) Core flagship brands including Parachute (coconut oils), Saffola (edible oils and foods), and Nihar (hair care); (2) Premium personal care brands including Livon and Parachute Advansed; (3) Digital-first direct-to-consumer brands including Beardo, Just Herbs, Plix Life, and True Elements; and (4) Specialized categories including fabric care (Revive) and licensed personal care (Kaya). The company serves consumers across India through both traditional retail and e-commerce channels.

Differentiator

Problem solved

Functional benefit

Brands

  • Parachute: Coconut oil and hair care brand — includes Parachute Advansed, Parachute Kalpavriksha (coconut farmer empowerment)
  • Saffola
  • Nihar Naturals
  • Hair & Care
  • Livon
  • Mediker
  • Beardo
  • Just Herbs
  • Plix
  • True Elements
  • Cosmix
  • 4700BC
  • Revive
  • Kaya
  • Pure Sense
  • Coco Pony
  • AENTS (Aesthetic & Anti-Pollution Services)
  • Solarazy
  • Parachute Kalpavriksha Foundation

Products and services

  • Parachute Coconut Oil
  • Nihar Naturals Hair Oil
  • Parachute Beliphool Hair Oil
  • Marico Edible Coconut Oil
  • Saffola Edible Oil

Quantifiable outcome

  • 1 in 3 Indian lives are touched by Marico products
  • +6 more outcomes

Companies that use Marico Bangladesh

Customer profile

Segments2 records

Ideal customer profiles1 record

Marico Bangladesh technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Marico Bangladesh partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

  • Marico Innovation FoundationcoreOthersMarico has established the Marico Innovation Foundation as a separate entity dedicated to fostering innovation beyond Marico's core business. The foundation operates independently to identify and support innovative practices and ideas.

Scale indicators18 records

Recent moves4 records

Expansion highlights5 records

Marico Bangladesh competitors and assessment

Company assessment

Broad incumbents

  • ITC Limited: Large diversified Indian conglomerate with a broad FMCG portfolio spanning personal care (Fiama, Vivel), foods (Aashirvaad), and stationery. Overlaps with Marico in personal care and foods but is a much larger incumbent with broader scope.
  • Colgate-Palmolive (India): Subsidiary of global FMCG major with leadership in oral care and personal care in India. Comparable to Marico on retail distribution and personal-care category management, but narrower category focus.

Direct peers

  • Hindustan Unilever: India's largest FMCG company with overlapping portfolios in hair care (Clinic Plus, Dove, Tresemmé), personal care, and foods. Direct competitor to Marico across multiple categories with significantly larger distribution and marketing scale.
  • Godrej Consumer Products: Indian FMCG player in hair care (Godrej Expert), personal care, and home care, with significant emerging-markets presence. Comparable to Marico on category mix and international expansion strategy.
  • CavinKare: Indian FMCG challenger in personal care (Chik shampoo, Fairever, Meera), hair care, and foods. Directly competes with Marico in shampoo entry, hair oils, and D2C/personal care adjacencies.
  • Dabur India: Indian FMCG major with strong positions in hair oils (Dabur Amla), Ayurvedic personal care, oral care, and health supplements. Directly comparable to Marico in hair oils and Ayurvedic personal care (Just Herbs).
  • Bajaj Consumer Care: Focused Indian hair-oil company (Bajaj Almond Drops, Brahmi Amla). Highly comparable to Marico's Parachute and Nihar franchises in the value-added hair oil segment.
  • Emami Limited: Indian FMCG company focused on hair oils (Navratna, BoroPlus), Ayurvedic personal care, and health products. Direct competitor in hair oils and personal care with overlapping distribution and marketing channels.

Emerging players

  • Patanjali Ayurved: Fast-growing Indian Ayurvedic FMCG challenger with strong positions in hair oils, personal care, foods, and edible oils. Directly comparable to Marico on Ayurvedic and value-segment positioning and a key disruptive threat to traditional players.

Regional players

  • Unilever Bangladesh: Bangladesh subsidiary of Unilever competing in hair care, personal care, and home care. Regional peer particularly relevant given Marico Bangladesh's local market operations in beauty and wellness.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Marico Bangladesh social profiles

Digital presence

Marico Bangladesh compliance and trust

Trust signal

Compliance3 records

Marico Bangladesh financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Marico Bangladesh leadership team

Management profile

Number of profiles

Profiles1 record

Marico Bangladesh subsidiaries and ownership

Company hierarchy

Subsidiaries4 records

Marico Bangladesh funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Marico Bangladesh M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Marico Bangladesh

What does Marico Bangladesh do?

Marico Bangladesh manufactures, markets, and distributes fast-moving consumer goods (FMCG) in Bangladesh, primarily coconut-based hair oils and personal care products. The company operates as a local manufacturing and brand-building entity serving Bangladeshi consumers with everyday grooming and wellness essentials. Its portfolio spans hair care, edible oils, and select personal care categories produced and packaged within Bangladesh.

Is Marico Bangladesh a public or private company?

Marico Bangladesh is a public company. It is classified as corporate owned and is currently operating.

When was Marico Bangladesh founded?

Marico Bangladesh was founded in 1988. It employs 251 to 500 people.

Where is Marico Bangladesh based?

Marico Bangladesh is headquartered in Dhaka, Bangladesh, in the Asia region.

How does Marico Bangladesh make money?

One revenue line is on record: consumer Products Sales.

Who are Marico Bangladesh's main competitors?

Broad incumbents on record are ITC Limited and Colgate-Palmolive (India). Direct peers are Hindustan Unilever, Godrej Consumer Products, CavinKare, Dabur India, Bajaj Consumer Care and Emami Limited. Patanjali Ayurved is listed as an emerging player. Unilever Bangladesh is listed as a regional player.

Does Marico Bangladesh have an API?

No public API is recorded for Marico Bangladesh.

What industry is Marico Bangladesh in?

Marico Bangladesh's product category is Personal Care FMCG. Its primary akta.pro industry code is CRADANAE, Hair Care (Shampoo, Conditioner, Styling, Treatments), with a secondary code of CRADANAC, Hand & Body Care (Lotions, Creams, Body Oils). Its NAICS code is 31122 and its SIC code is 2844.

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Live signals
Simply Wall StBangladesh Consumer Staples Stocks Built For Inflation PressureThe article analyzes three Bangladeshi consumer staples companies—Olympic Industries, Reckitt Benckiser (Bangladesh), and Marico Bangladesh—as potential investments resilient to the country's 8.32% inflation rate. It highlights their exposure to essential goods demand while noting financial trade-offs such as margin pressures, dividend coverage issues, and governance concerns. The analysis is presented as a sample from a broader screen of seven similar companies on the Dhaka Stock Exchange.The Business StandardMarico profit plunges after four yearsMarico Bangladesh Limited reported a 12.38% year-on-year decline in net profit for the April-June 2026 quarter, falling to Tk170.47 crore from Tk194.56 crore, marking the company's first quarterly earnings slump in four years. Despite 4% revenue growth reaching Tk531.86 crore, the profit squeeze was attributed to sharply rising raw material prices and decreased finance income. The board declared a substantial 500% interim cash dividend of Tk50 per share, reflecting robust cash reserves despite the earnings downturn.The Business StandardPolicy concerns trigger record Tk358cr foreign stocks sell-off in JuneForeign investors offloaded shares worth Tk358 crore on the Dhaka Stock Exchange in June, marking the largest single-month net sell-off of the calendar year and driving international participation to a historic low, with total foreign purchases amounting to just Tk6 crore against the massive sell volume. BRAC Bank suffered the steepest exit at Tk186 crore (stake falling from 35.89% to 34.69%), while Grameenphone, Square Pharmaceuticals, Marico Bangladesh, Renata, British American Tobacco Bangladesh, and Beximco Pharmaceuticals each saw double-digit crore outflows. Market experts attribute the exodus to growing concerns over regulatory interference, including Bangladesh Bank's removal of its governor and new directives on paid-up capital and interest rate caps that critics say move the economy toward a command-style model.India InfolineMarico Ltd CE OptionMarico Ltd is offering a call option with a strike price of ₹890 that expires on February 24, 2026. As of January 23, 2026, the option's current market price (CMP) stands at ₹1.05, with no trading volume reported. The article provides details about the option chain related to Marico Ltd.BloombergAshmore’s $2.3 Billion Money Manager Counts on Indian Working Women to Drive OutperformanceAshmore Investment Management India LLP is leveraging the rising labor force participation of Indian women as a key investment strategy, targeting companies in quick commerce and consumer goods sectors. The firm's India Equity Fund has significantly outperformed peers, with holdings including Swiggy Ltd., FSN E-Commerce Ventures (Nykaa), Marico Ltd., and Electronics Mart India Ltd benefiting from increased female spending power. While this trend drives growth for these entities, it also highlights broader economic shifts in India's consumption landscape.Ken ResearchGlobal Coconut Products MarketThe global coconut products market, valued at USD 21.7 billion, is expanding due to rising health consciousness, vegan trends, and versatile applications in food, cosmetics, and pharmaceuticals. The Asia-Pacific region dominates the market, with countries like India, Indonesia, and the Philippines leading production and consumption, while the Indian government has implemented schemes to support sector growth. Key industry players include Marico Ltd., Vita Coco Company, Inc., and The Coconut Company (UK) Ltd., among others driving innovation and geographic expansion.Forbes IndiaWhen Parachute Took FlightMarico CEO Vijay Subramaniam described the company's shift from a simple export model to a "glocal" strategy, with international business now contributing roughly 20 percent of group revenues and growing 40 percent annually. He cited acquisitions in South Africa and Egypt, and plans to expand into Botswana, Angola, Libya and Morocco. Marico Bangladesh listed on the Dhaka Stock Exchange in September after a Rs 9.5 crore public listing.