September 2011

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Disclaimer

This investor presentation has been prepared by Marico Limited (“Marico”) and does not constitute a prospectus or placement memorandum or an offer to acquire any securities. This presentation or any other documentation or information (or any part thereof) delivered or supplied should not be deemed to constitute an offer.

No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. The information contained in this presentation is only current as of its date. Certain statements made in this presentation may not be based on historical information or facts and may be “forward looking statements”, including those relating to the general business plans and strategy of Marico, its future financial condition and growth prospects, future developments in its industry and its competitive and regulatory environment, and statements which contain words or phrases such as ‘will’, ‘expected to’, ‘horizons of growth’, ‘strong growth prospects’, etc., or similar expressions or variations of such expressions. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to risks with respect to its hair care, its healthcare business and its skin care business.

Marico may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. This presentation cannot be copied and disseminated in any manner.

No person is authorized to give any information or to make any representation not contained in and not consistent with this presentation and, if given or made, such information or representation must not be relied upon as having been authorized by or on behalf of Marico. This presentation is strictly confidential.

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Marico



Beauty & Wellness Solutions

 Hair Care, Health Care, Skin Care Products & Services (Solutions)  Successful transformation from an edible oils business 

A leading Indian MNC Group

 Market Capitalisation  Turnover  Profit FY 11 FY 11  Net Worth excl brands ( FY11)  Turnover from overseas ~ Rs. ~Rs. ~Rs.

~Rs. 9000 Crore + (~USD 2 Billion) 3128 Crore (~USD 695 million) 286 Crore (~USD 64 million) 915 Crore (~USD 203 million) 25% 

Sustained Profitable Growth……..accelerating

 Turnover 22% Profits 27%

(5 yr CAGR)

 Y-o-Y Growth over consecutive quarters- `Profit – 47, `Sales – 43  11 acquisitions in 5 years 2

Beauty & Wellness Brands



Hair Care



Hair Oils



Pre wash and Post wash



Healthcare



Healthy edible oils



Functional Foods



Skincare



Cosmetic dermatological



Services/ Products

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Aim to Create Market Leadership Brands

Brand Parachute Parachute Saffola Mediker Category Coconut Oil (India) Coconut Oil (Bangladesh) Super Premium Refined Edible Oils Anti Lice Treatment Indicative Market Share (%) # ~ 46% ~ 80% ~ 54% ~ 96%* Rank 1 1 1 1 Revive Parachute Jasmine, Shanti Amla, Hair & Care, Nihar Parachute Hair Cream Instant Fabric Starch Hair Oils ~ 80%* ~ 23% 1 2 Hair Cream (GCC) ~ 27% 1 Kaya Skin Clinic Dermatology led skin solutions (India) > 35% 1

Marico brands have a no 1 or no. 2 position in their respective segments over around 90% of its turnover * Company Estimates, # Market share data sourced from Neilson 4

Segments with Relatively Lower Competitive Intensity

• Not a battleground for multiple large MNC players – Coconut Oil in India and Bangladesh – Hair Oils in India – Super Premium Refined Edible Oils in India – Post Wash Hair Care • Hair Creams / Gels / Post wash conditioners – Healthy Breakfast Foods in India – Dermatology led skin care solutions in India – Male Grooming in Vietnam 5

Focus on Growth

• Prioritize Growth over short term profit • Volume growth to expand consumer franchise – Maintain unit margin within a band • Re-invest profits to reinforce established brands and build new growth

engines for the future

– Prototyping – Strategic Funding (% of profits each year) • Inorganic Growth to supplement Organic Growth – Conservative Dividend Policy 6

Inorganic Growth

• Focused on hair care, skin care and health care in India – International : primarily hair care and skin care • Internationally focused on developing markets in Asia and Africa • Establish potential to add value in branding and distribution • Enhance depth of category knowledge in hair care / skin care – Leverage across all Marico geographies 7

Key Focus Areas

• Branding – Consumer Insight • Distribution – Network Reach and Quality – leveraging Information Technology • Innovation – Product and Process • Talent 8

Coconut Oil Volume Market Share

Parachute CNO Nihar OOM 46% 6% 1%

Total 53% Volume growing in rigid packs ~10%

Market Size

Branded ~ INR 20 bn (~USD 440 mio) Loose ~ INR 8 bn (~USD 175 mio) • Grow the branded market  Conversion of loose to branded  Micro marketing • Focus on smaller market segments • Rural growth

Likely medium term volume growth : 6% -8%

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Hair Oil

• Market Share of Marico in Hair Oil Market ~ 23%, up from 17.8% in FY 04 • Aims to Gain Market Share in ~INR 3000 (~USD 660 mio) category • Significant participation in all key sub-segments – Value added coconut oils – Light Hair Oils – Amla based oils – Cooling Oils – Ayurvedic Oils

Likely Medium term Volume Growth (Rigids) ~ 17%

• Shift from Loose Oil • Higher incomes – higher frequency of usage 10

Edible oil to a Lifestyle Brand

Riding a Healthcare Trend First in refined oil ‘blends’ Low-Sodium Salt Edible Oil Lifestyle products Functional Foods Space

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International Business Group

Turnover (Rs Cr)

800 700 600 500 400 300 200 100 0 117 193 307 440 2005-06 2006-07 2007-08 2008-09 602 2009-10 733 2010-11 • Growth in FY11 - 22%, excluding 5% owing to INR appreciation. Volume

growth 19%

• Comprises about 23% of Group Revenue (~USD 162 mio) • Focus on Asia and Africa – Currently Bangladesh, MENA, South Africa & South East Asia 12

Kaya Skin Care Solutions

• Turnover in FY11 Rs. 239 Crores (~USD 53 mio) – Growth of 31% – Including Derma Rx • Revenues ~INR 50 Crore (~USD 11 mio) • Double digit PAT margins • 105 Clinics – 82 in India, 17 in the Middle East, 2 in Bangladesh, 4 in Singapore and Malaysia • Customer base more than 600,000 – Derma Rx ~40000 • Need to improve client retention – Services of repeat nature • Need to enhance share of Product revenue – Increased from 13% to ~17% in H2 FY11 • Thru Derma Rx products in India • Target product contribution of ~25% in next 2-3 years 13

Future Growth

• Expand Markets where we have dominant share – Parachute coconut oil in India and Bangladesh – Saffola – Premium healthy refined edible oil – Tapping Rural growth • Increase Share in other categories – Hair Oils in India – Hair creams & gels in the Middle East • Introduce new products – larger size than in the past – Saffola Arise and Oats (for example) • Geographic Expansion – South East Asia, other parts of Africa – New Product introduction in IBG Markets • Grow Kaya profitably in India and overseas – Integrating Derma Rx • Inorganic Growth • Hold margins in a band – focus on growth 14

The most awarded FMCG

• • Featured amongst eight Indian companies in

Standard & Poor’s list of Global Challengers

Featured as

Most Innovative Company

in Business Today  Marico won The Economic Times

Smart Workplace

Award in the FMCG category (2008) • India’s

Employer of Choice

CNBC-TV18, U21 Global and Watson Wyatt Worldwide • One of 13 Indian Companies listed in

Asia’s Top 100 Fastest Growing

companies – Business Week • • International Business - Parachute - The

Gulf Marketing Review

(GMR) Awards 2006 Kaya Ltd. won the 2009.

‘

Most Admired Retailer for Health & Beauty' at

the Images Retail Award • Parachute was ranked the

2 nd Most Trusted Brand in Bangladesh

The Bangladesh Brand Forum • Marico was awarded Hygiene) category.

NDTV Profit Business Leadership Award 2009

in the FMCG (Personal 15

Thank You

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Consumer Products Business Coconut Oils Hair Care Health Care

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International Business Group Hair Care Coconut Oil Health Care Skin Care

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International Business Group

Marico enters Vietnam through 85% investment in ICP

• Turnover ~ USD 25 million during 2010 • Leading domestic player in Consumer Products • One of the most successful Vietnamese FMCG companies • Significant presence across • Personal Care • Beauty Cosmetics • Sauces/Condiments • Leading player in male grooming segment • 2nd Most Trusted Personal Care brand • Over 35% market share • Leads the men ’ s shampoo category • • Range of premium cosmetic products Ranked amongst the top 5 premium cosmetics brands in Vietnam • Branded sauces and condiments 19