Brands
Marico merges men’s grooming brand Beardo into its parent company
MUMBAI: Marico is tidying up its house.
The FMCG group on Tuesday announced the integration of Beardo, its men’s grooming brand, into the parent company, folding the Rs 214-crore business into Marico through an intra-group restructuring aimed at sharpening operational efficiency.
The move will be executed via the voluntary liquidation of Zed Lifestyle, Marico’s wholly owned subsidiary that runs the Beardo brand. Its entire business undertaking will be transferred to Marico, the company said in a regulatory filing, allowing resources, teams and decision-making to be consolidated under one roof.
In the last financial year, Zed Lifestyle posted a turnover of Rs 214.17 crore, accounting for 1.98 per cent of Marico’s consolidated revenue. The subsidiary reported a net worth of Rs 18.61 crore.
Marico first invested in Beardo before fully acquiring the brand in 2020, when it bought the remaining 55 per cent stake in an all-cash deal. The integration marks the final step in embedding the men’s grooming label into Marico’s core portfolio.
Popcorn, too
Alongside the restructuring, Marico also signalled its appetite for premium snacking. The company announced the acquisition of a controlling stake in Zea Maize, owner of gourmet popcorn brand 4700BC, for Rs 226.83 crore.
Marico will initially acquire a 93.27 per cent stake, with the transaction expected to close within 30 days. The company retains the right to buy the remaining stake after three years, at a valuation to be determined at that time.
Markets approve
Investors appeared unfazed by the corporate reshuffle and acquisition spree. Shares of Marico ended 0.85 per cent higher on Tuesday, closing at Rs 747.20 on the BSE.
Beardo is now fully inside the tent, popcorn is on the menu, and Marico’s message is unmistakable: fewer silos, tighter control and a sharper focus on growth.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
