MAM
Marico’s ad spend drops marginally in FY’11
MUMBAI: FMCG major Marico has cut down its advertising spend marginally in the fiscal 2010-11 compared to the year- ago period.
The company, which manufactures hair-oil brand Parachute, spent Rs 3.46 billion towards advertising and sales promotion in the year ended 31 March 2011.
In the previous fiscal, Marico had an ad spend of Rs 3.51 billion.
Marico‘s turnover rose 17 per cent, including a one-time amount of Rs 500 million it received from Cargill India for sale of edible oil brand Sweekar.
The company posted a consolidated revenue of Rs 31.28 billion, up from Rs 26.61 billion a year ago.
Marico cut down its ad spend by 25 per cent in the fiscal fourth-quarter, which had an overall impact in the year. The company spent just Rs 671.93 million on advertising during the three-month period ended 31 March 2011, down from Rs 892.39 million in the same period of the earlier year.
Marico posted a 24.09 per cent jump in its revenue for the fourth quarter. Net sales during the quarter under review was Rs 7.47 billion, up from Rs 6.02 billion a year ago.
Brands
Safex Group appoints Richa Malhotra as group chief financial officer
Former Standard Chartered executive to steer finance
NEW DELHI: Safex Chemicals has appointed Richa Malhotra as group chief financial officer, strengthening its leadership team as the company prepares for the next phase of expansion in specialty chemicals and global agrochemicals.
In her new role, Malhotra will lead the group’s financial strategy, capital architecture and governance framework as Safex scales operations across multiple verticals including branded formulations, specialty chemicals and contract manufacturing.
A chartered accountant and graduate of Shri Ram College of Commerce, University of Delhi, Malhotra brings more than two decades of experience in business finance, strategic planning, corporate banking and client management.
Before joining Safex, she served as executive director, financial markets at Standard Chartered, where she led teams across India and Sri Lanka and worked closely with large corporates, global subsidiaries and commercial banking clients. Her expertise includes capital structuring, treasury operations, risk management and financial markets led financing solutions.
Safex Group promoter director and joint managing director Piyush Jindal, said the appointment comes at a pivotal time for the company. “Safex stands at an inflection point as we build an integrated platform across branded formulations, specialty chemicals and contract manufacturing. Richa’s experience across global financial institutions will strengthen our financial discipline and help unlock value across the group,” he said.
Malhotra said she was looking forward to contributing to the company’s next chapter of growth. “Safex has built a strong reputation over 35 years with its focus on integrity, innovation and agricultural insight. I am excited to be part of the organisation as it expands its footprint in India and global markets,” she said.
The appointment comes as Safex continues to strengthen its financial foundations and scale operations internationally, positioning itself for future growth milestones.
