FMCG firm Marico today said that its board has approved the restructuring of the company’s businesses and corporate entities with effect from April 1.
The board meeting today, “considered and approved a proposal to restructure Marico’s businesses and corporate entities”, the company said in a filing to the BSE.
The company has also approved the restructuring of its organisation.
“These 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 a 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.