Shares of Marico Ltd. dropped by 4% after touching a day’s high of Rs 672 on 6th August, as an aftermath of the ongoing political turmoil in Bangladesh.

The political turmoil in Bangladesh has reached a never-before height, as Prime Minister Sheikh Hasina has fled the country for a ‘safer place’ after her resignation, while the army is going to form an interim government.

The former country plays a significant role in Marico’s international business, accounting for a quarter of the FMCG company’s overall revenue.

The Bangladesh market makes up 12% of the company’s total revenue. The latter country alone is responsible for about 44% of Marico’s international revenue.

As per the investor presentation for the June quarter, the company intended to reduce Bangladesh’s contribution to its international revenue from 51% in FY 2022 to below 40% by FY 2027.

The company reported its June quarter results yesterday, wherein volume growth of 4% was in line with its 4-5% growth expectations from last year.

It said that revenue growth has been improving and will continue to rise as pricing and volume growth improve. The company is investing about Rs 80-100 crore over the next three years to improve distribution and generate demand.

At 10:30 AM, the shares of Marico Ltd. were trading 3.61% lower at Rs 648.15 on BSE.

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