Marico Bangladesh Limited, a listed multinational company, has decided on a phase-wise investment of Tk227 crore for increasing its manufacturing capacity.
According to an official disclosure posted on the Dhaka Stock Exchange (DSE) website on Thursday, the publicly traded company is going to set up operations in the Special Economic Zone under the Bangladesh Economic Zones Authority (BEZA).
In March 2019, the Indian fast-moving consumer goods company invested Tk29.40 crore to increase the production capacity of its factories in Mouchak and Shirirchala.
The company produces coconut oil, hair care, skincare, and baby care products.
The multinational company’s flagship brand Parachute is a market leader in the country with a 80% market share in the hair oil industry in Bangladesh.
The company is also a dominant player in the value added hair oils (VAHO) segment with brands such as Parachute Advanced, Parachute Advanced Beli Phool, Parachute Advanced Extra Care, Parachute Advanced Aloe Vera, Nihar Naturals, Shanti Badam Amla, and Nihar Naturals Joba Amla.
The board of directors of the company declared a 300% interim cash dividend for three months (April-June’20) of 2020.
The company approved a total 950% cash dividend for the year that ended on March 31, 2020. In 2019, it disbursed a total 650% cash dividend.
Marico Bangladesh was listed on the Dhaka Stock Exchange in 2009. The pharma sector company belongs in the “A” category.
The company’s paid-up capital is Tk31 crore. Each share price of the company closed at Tk2,097.30 on Thursday.
