Marico announced a restructuring wherein the skin clinics (Kaya) business would be hived off into a separate company, i.e. Marico Kaya Enterprises (MaKE), to be listed later this year. Further, domestic consumer business and international will now operate as a unified FMCG business. Besides, positive core business momentum, we view this restructuring as a positive catalyst to the stock as it involves: the hive-off of the loss making / capital intensive Kaya business from Marico.
Initially Marico Kaya Enterprises (MaKE) will be formed (more…)
