Mission Statement, Vision, & Core Values (2025) of Marico Limited.

An Overview of Marico Limited

General Summary of Marico Limited

Founded in 1990, Marico Limited has evolved into a prominent player in the fast-moving consumer goods (FMCG) sector. Headquartered in Mumbai, India, the company specializes in beauty and wellness products across various segments. Marico’s flagship brands include Parachute (coconut oil), Saffola (edible oils), and Livon (hair care). By 2024, Marico’s sales reached approximately INR 9,000 crore (about USD 1.1 billion), highlighting significant growth in both domestic and international markets.

Company's Financial Performance in the Latest Financial Reports

In the fiscal year ended March 2024, Marico reported a remarkable revenue growth of 15%. This increase was propelled by a strong performance in its core product lines, particularly in hair oils and health foods. For Q1 FY2024, the company achieved a revenue of INR 2,500 crore (roughly USD 300 million), with a net profit of INR 400 crore (around USD 48 million), reflecting a net profit margin of 16%.

Marico's market share in the hair oils segment stands at approximately 56%, while Saffola possesses a market share of 20% in the oils category. The company's international sales, accounting for about 30% of total revenue, have been bolstered by expansions in markets such as Vietnam and South Africa, where growth rates have reached 20%.

Introduction to Marico as a Leading Company in the Industry

Marico Limited stands as one of the foremost FMCG companies in India, recognized for its innovative approach and strong brand portfolio. With a consistent focus on sustainability and consumer-centric products, Marico has secured its position as a market leader. The company's initiatives in digital marketing and e-commerce have further enhanced its market reach, contributing to its robust financial growth and establishing a strong foothold in competitive environments. Investors and industry professionals can explore the underlying factors contributing to Marico's success and its strategic plans for future expansion.

Mission Statement of Marico Limited

Mission Statement of Marico Limited

Marico Limited's mission statement is pivotal in shaping its strategic direction and guiding its long-term objectives. The company aims to 'transform the lives of consumers by providing innovative and high-quality products that enhance their well-being.' This mission emphasizes Marico's commitment to quality and innovation, essential in maintaining its competitive edge in the fast-moving consumer goods (FMCG) sector.

Core Component 1: Consumer Focus

The first core component of Marico's mission statement is its unwavering focus on the consumer. This aspect highlights the importance of understanding consumer needs and preferences to drive product development.

• In the fiscal year 2023, Marico's revenue from operations reached approximately ₹9,200 crores, driven by a 14% growth in its core brands such as Parachute and Saffola.
• Marico's consumer insights team utilizes data analytics to understand trends, allowing for targeted marketing strategies that cater to specific demographic segments.
• The company invests approximately 3% of its annual revenue in consumer research to ensure its product offerings are aligned with the evolving expectations of consumers.

Core Component 2: Innovation

Innovation is the second critical element in Marico's mission statement. The company focuses on embracing new technologies and product formulations to meet consumer demands effectively.

• In 2023, Marico launched over 50 new products across various categories, enhancing its portfolio in health foods and personal care.
• The company allocates 5% of its revenue to research and development initiatives aimed at creating sustainable and innovative products.
• Marico's commitment to innovation was reflected in a 15% increase in its premium brand sales in the last fiscal year, showcasing the success of its new launches.

Core Component 3: Sustainability

The final component of Marico's mission statement emphasizes sustainability. The company recognizes the importance of environmental stewardship in its operations and product offerings.

• In 2023, Marico achieved a reduction of 25% in water consumption per unit of production compared to the previous year.
• The company has set a target to source 100% of its palm oil from certified sustainable sources by 2025.
• Marico's sustainability initiatives contributed to a reduction of 30% in carbon footprint across its manufacturing facilities within the last five years.

Vision Statement of Marico Limited

Vision Statement Overview

Marico Limited's vision statement for 2024 emphasizes the aspiration to become a leading consumer products company. The focus lies on delivering sustainable, innovative products that enhance the lives of consumers.

Innovation and Sustainability

Marico aims to lead in innovation and sustainability, signaling a commitment to environmentally friendly practices. This aligns with the growing consumer preference for sustainable products. As of 2023, Marico has introduced over 30% of its product line designed with sustainability in mind, contributing to a reduction of carbon emissions by 15% in manufacturing processes.

Consumer-Centric Approach

The company’s vision underscores a consumer-centric approach, focusing on understanding and addressing consumer needs. Marico reported a 20% increase in consumer engagement metrics in 2023, driven by targeted marketing strategies and an expanded digital presence.

Market Expansion Goals

Marico's vision includes plans for geographic and product line expansion. The company aims to achieve a revenue growth target of 10% CAGR (Compound Annual Growth Rate) by 2026. In FY2023, Marico's revenue stood at ₹9,246 crore, with international markets contributing approximately 30% to overall sales.

Commitment to Health and Wellbeing

Marico’s vision is also committed to promoting health and wellness through its product offerings. The company’s health segment, including products like Saffola, accounted for a growth of 15% in FY2023, indicating strong consumer demand for health-conscious products.

Long-term Vision and Collaboration

Marico's long-term vision includes fostering collaboration with strategic partners to drive mutual growth. The company has established partnerships that have facilitated a 10% increase in operational efficiencies in the supply chain as of 2023, reflecting enhanced cooperation across all levels.

Core Values of Marico Limited

Integrity

Integrity stands as a foundational pillar at Marico Limited, emphasizing transparency and accountability in all operations.

In 2022, Marico launched its 'Integrity at Work' program, which includes regular ethics training sessions for over 4,000 employees, reinforcing the importance of ethical decision-making.

Furthermore, the company's adherence to the 'Sustainable Development Goals' (SDGs) is evident, with Marico committing to ensuring compliance with 100% of its suppliers by 2025 regarding ethical and sustainable practices.

Innovation

Innovation is at the heart of Marico's strategy, driving the development of new products and services.

In FY 2023, the company invested ₹160 crores (approx. $19.2 million) in research and development, resulting in the launch of over 20 new products across various categories, including personal care and health foods.

The 'Marico Innovation Fund,' established in 2021, has allocated ₹75 crores (approx. $9 million) to support start-ups focused on eco-friendly and technologically advanced solutions.

Consumer Centricity

Consumer centricity focuses on understanding and fulfilling customer needs.

In 2023, Marico conducted comprehensive consumer insights surveys involving over 15,000 participants, leading to adjustments in product formulations and marketing strategies that enhanced customer satisfaction ratings by 25%.

The launch of the 'Marico Direct' platform in 2022 has significantly improved consumer engagement, with a reported increase of 30% in direct sales through digital channels.

Agility

Agility allows Marico to swiftly adapt to market changes and consumer preferences.

In response to the COVID-19 pandemic, the company streamlined its supply chain operations, reducing lead times by 40% and ensuring product availability in over 25,000 retail outlets across India.

The company's quick pivot to online sales channels resulted in a growth of 50% in e-commerce sales during FY 2023 compared to the previous year.

Social Responsibility

Social responsibility reflects Marico's commitment to contribute positively to the community and environment.

In 2024, Marico reported spending ₹20 crores (approx. $2.4 million) on various CSR initiatives, including education programs that benefited over 10,000 children in rural areas.

Additionally, Marico has pledged to reduce its carbon footprint by 30% by 2030 as part of its environmental sustainability goals, backed by a current renewable energy usage of 60% in its manufacturing processes.