Marico Limited (ML), a leading Fast Moving Consumer Goods (FMCG) player was incorporated on 13th October 1988 under the name of Marico Foods Limited. The name of the company was changed from Marico Foods Limited to Marico Industries Limited with effect from 31st October of the year 1989 and thereafter was changed from Marico Industries Limited to Marico Limited on 9 March, 2005.
Marico Limited, headquartered in Mumbai, Maharashtra, carries on business in branded consumer products. Marico manufactures and markets products with the brands such as Parachute, Parachute Advansed, Nihar, Nihar Naturals, Saffola, Hair & Care, Revive, Mediker, Livon, Set-wet, etc. The Company's products reach its consumers through retail outlets serviced by its distribution network comprising regional offices, carrying & forwarding agents, redistribution centers & distributors spread all over India.
During the same year 1989, in December, the company had entered into an agreement with M/s. Rasoi Industries Limited for purchase of its unit located at M.I.D.C. Industrial Estate, Jalgaon. After a year, in 1990, ML made a Registered Users Agreement with Bombay Oil Industries Ltd (BOIL) for the use of the brands Parachute and Saffola for an initial period of 3 years commenced from 1st April of the same year. The Company established a new plant at Kanjikode, Palghat District of Kerala to manufacture Parachute Coconut Oil with capacity of 24000 tonnes of coconut oil per annum, began commercial operation in May of the year 1993.
During the year 1995, ML had acquired the Brand SIL' from KFL for the consideration of Rs 3 crores. Marico had extended its Sweekar oil brand during the year 1997, by the way of two new refined oils entry namely Sweekar cotton seed oil and Sweekar mustard oil. In the identical year of 1997, the company had set up a factory near Jalgaon to process the cotton seeds and another factory near Jaipur for the mustard oil.
The Company made the join venture between a L