Stakeholder Engagement

Together, every step of the way

At Marico, safeguarding our stakeholders’ interests and futureproofing the value delivered to each one of them have been our priorities as never before.

Stakeholder capitalism sits at the heart of our business vision, strategy and responsible growth story. It defines our purpose and accelerates our impact creation potential for our stakeholders who inspire us to survive and thrive. The unprecedented changes caused by the pandemic have brought irreversible transformation in our lives. As always, we have placed our stakeholders’ interests ahead of us so that we can stride forward together in this journey of building resilience, agility and responsible growth.

STAKEHOLDER
GROUP

KEY
PROPOSITION

MATERIAL
NEEDS

ENGAGEMENT
OBJECTIVE

MODE OF
ENGAGEMENT

FREQUENCY

Consumers

Delight

With our uncompromising quality, trusted brands and product innovations, we endeavour to provide a unique value proposition to our consumers. Our brands differentiate themselves across the core and aspirational market segments. We strive to bring innovation in every facet of our operations, while ensuring the availability of products at the right time and for the right price.

  • Affordability, accessibility, quality, reliability and safety
  • Product innovation and reconfiguration centered on consumers’ preferences and evolving needs
  • Enhancing health and nutritional quotient of products without compromising on quality/ taste
  • Minimisation of products’ environmental footprint at each stage of the lifecycle
  • Develop relationships based on trust, loyalty and social commitments
  • Understand the shift in preferences to catalyse product innovation
  • Create shared vision on environmental and social commitments, transition to eco-conscious lifestyles and carve out a sustainable future for all
  • One-on-one interaction
  • Consumer satisfaction survey
  • Call centre/Consumer Cell to track insights and feedback
  • Digital platforms, social media handles

Continuous

CAPITAL LINKAGES

Investors

Deliver

Consistent shareholder value creation remains our topmost priority. This is achieved by strengthening our core segments and achieving growth in niche markets through our innovation and entrepreneurial approach. Our value creation potential with shareholders has led to a steady focus on maximising volumes, market share gains and cost optimisation, despite the pandemic-induced market slowdown, availability of resources and other macro headwinds.

  • Business resilience and agility
  • Responsible growth and profitability
  • Mainstreaming mitigation of environmental, social and governance (ESG) risks and maximising opportunities
  • Become a better investee company
  • Create high shareholder value
  • Communicate performance and future growth plans
  • Understand concerns and expectations
  • Annual General Meeting
  • Investor calls
  • Press releases
  • Published results

Quarterly, Half-yearly, Annually

CAPITAL LINKAGES

Value-Chain Partners

Include

As a responsible organisation, Marico believes that mutual and inclusive growth of our value-chain partners is critical to the overall purpose of creating shared value. We strive to maintain the right balance by meeting the needs of our partners through continuous capacity enhancement drives, proactive engagement and timely response strategies. As part of our mission to drive inclusive growth across our stakeholder ecosystem, we strive to play a significant role in the growth stories of our value-chain partners.

  • Cost-benefit terms, payment modalities
  • Quality expectations
  • Supplier Code of Conduct and Business Ethics
  • Safety and operational risk management
  • Harnessing the power of technology and data to provide traceability and accuracy
  • Commitments on responsible sourcing, circular economy, human rights, and resource efficiency
  • Sharing of mutual expectations and needs, especially with regards to quality, cost and timely delivery
  • Capability building and growth plans
  • Sharing of best practices
  • Responsible Sourcing framework (Samyut) for integrating sustainability within our value chain in a phased manner
  • Periodic interactions (physical, telephone, mailer)
  • Annual meets/events
  • Training programmes and workshops

Continuous

CAPITAL LINKAGES

Members

Empower

At Marico, we offer all our members a defined talent value proposition to challenge, enrich and fulfill their aspirations, so that they can maximise their true potential to make a difference. Further, our values are based on the principles of ‘involvement builds commitment’, and thus, are co-owned by all Mariconians. Our ‘People first’ strategy has pushed us at every step to take care of our members’ health (both physical and mental), wellness, work-from-home infrastructure and any other support that they need to adapt to the new normal of work. The cultures of diversity, equity and inclusion are the forerunning guiding principles for any initiative that we take for our members.

  • Career growth opportunities, compensation packages
  • Redefining value in the future of work
  • Technical and functional skill enhancement and competence building
  • Leadership and people management skills
  • Occupational health, safety and wellbeing
  • Diversity, equity and inclusion
  • Tech-based support for improving quality of outputs
  • Communicating organisational vision, purpose, ethos and integrity. Clear understanding provided on the role of each member to help achieve the purpose and goals of the organisation
  • Technical, functional and needbased training and development
  • Support career growth plan
  • Workplace needs and expectations
  • One-to-one consultations and counselling on health, wellness and other daily challenges
  • Personal development programme
  • Learning and development
  • Engagement survey
  • Organisation communication
  • Digital interactions
  • Health and wellness drives
  • Social inclusion based townhalls on themes like diversity, inclusion, human rights, sustainability, CSR etc

Continuous, Half-yearly, Annually

CAPITAL LINKAGES

Communities

Nurture

Communities influence and inspire our existence and CAPITAL LINKAGES hence we strive to touch their lives in every possible way so as to make a difference. To safeguard our communities from the socio-economic and health-related disruptions caused by the pandemic, we try to maximise our efforts in helping our communities sustain and thrive in these changing times.

  • Health and Community Welfare
  • Enhancing socio-economic development and livelihood restoration
  • Fostering social innovation that creates incremental value for communities
  • Drive eco-conscious behaviour and lifestyles changes to improve sustainability footprint
  • Maintain cordial relationship
  • Improve livelihood and create positive impact
  • Shared ecosystem
  • One-on-one interactions
  • Field visits and trainings
  • Digital platforms
  • CSR and sustainability initiatives
  • Pandemic relief campaigns - Health facilities, provision of meals and rations, PPEs to frontline workers etc

Continuous

CAPITAL LINKAGES

Regulators

Adhere

Marico is committed to be a leading consumer CAPITAL LINKAGES goods company that meets and exceeds compliance and regulatory mandates towards its products and processes

  • Compliance, governance and risk mitigation
  • Product safety assurance
  • Propelling social leadership and empowerment
  • Safeguarding natural assets
  • Adhering to all labour laws and ensuring implementation of human rights, safe and secure workplace and 100% adherence to ethical standards of work
  • Understand compliance and applicable regulations
  • Collaborations on national agendas
  • Business meetings
  • Policy advocacy based engagements in industry forums, trade associations, interest groups, sectoral associations and scientific/R&D based thought leadership initiatives
  • Stakeholder consultations

Need-based

CAPITAL LINKAGES