Marico board approves restructuring of company's business

MUMBAI: FMCG firm Marico today said its board has approved restructuring of the company's businesses and corporate entities with effect from April 1.

The company's board, which met today, "considered and approved a proposal to restructure Marico's businesses and corporate entities", Marico Ltd said in a filing to the BSE.

The company has also approved the restructuring of its organisation, Marico added.

"These both are proposed to be effective April 1, 2013 and are subject to statutory and contractual approvals," the Mumbai-headquartered firm said.

Marico, which is present in more than 25 countries across Asia and the African continent, had reported turnover of Rs 4,000 crore in 2011-12.

The company's portfolio includes brands like Parachute Advanced, Saffola, Hair & Care, Nihar and Mediker. It recently acquired the personal care business of Reckitt Benckiser.

Marico scrip was trading at Rs 225.55 on the BSE in the afternoon trade, up 0.51 per cent from its previous close.