Corporate Social Responsibility (CSR)

Deforestation

Environment Sustainability

Product Stewardship

Responsible Sourcing

Afforestation enhances carbon sequestration and has the potential to combat global warming, prevent soil erosion, reduce air pollution, and reduce biodiversity loss. In line with our environment policy and climate action, we are taking initiatives for ecological restoration. We are improving tree cover in and around our manufacturing facilities and specific areas where there is a need to create carbon sink. Through strategic partnerships and sustainable initiatives, we are committed to enhancing biodiversity, combating deforestation, and promoting a greener, healthier environment for future generations.

Afforestation

Product Quality

Product Safety

At Marico, we believe in embodying ethical practices and policies that prioritize the well-being, humane treatment, zero cruelty and conservation of animals. Our R&amp;D facility is well equipped with modern analytical instruments that are used to analyze key ingredients, actives, contaminants, in our products without any form of testing on animals. Through transparent initiatives and responsible sourcing, we strive to create a world where animals are respected, protected and nurtured.

Animal Welfare

Code of Conduct

Corruption includes practices such as fraud, extortion, blackmail,&nbsp;&nbsp;influence&nbsp;&nbsp;peddling,&nbsp;&nbsp;networking,&nbsp;&nbsp;abuse&nbsp;&nbsp;of&nbsp;&nbsp;discretion,&nbsp;&nbsp;favouritism,&nbsp;&nbsp;money-laundering, receipt of gifts, receive or take any charitable donations, promise, or receive any favour of gratis or receive anything of value. Marico discourages bribery and corruption in&nbsp;any&nbsp;form.&nbsp;This&nbsp;policy&nbsp;is&nbsp;to&nbsp;highlight&nbsp;the&nbsp;responsibilities for compliance with&nbsp;the&nbsp;anti-corruption laws and to combat corruption related risks.

Anti-Bribery and Anti-Corruption

Circular Economy

Sustainable Agriculture

Waste Management

Water Stewardship

By virtue of its commitments towards environmental protection, Marico is committed to conserve energy, water, materials, forests, and biodiversity. Rich biodiversity is an indicator of healthy ecosystem that supports revitalizing activities of our planet through natural processes. We have taken preventive actions to minimize biodiversity and forest loss in and around manufacturing facilities as well as across the value chain. We understand the importance of conserving biodiversity and believe that it is an important shared responsibility.

Biodiversity

Diversity and Inclusion

Marico believes in and embraces the benefit of having a diverse Board of Directors and sees increasing diversity at Board level as an essential element in maintaining a competitive advantage. A truly diverse Board will include and make good use of the differences in the skills, regional and industry experience, background, gender, and other distinctions between Directors.

Board Diversity

Responsible Marketing

Consumers are visibly gravitating towards brands and products that enhance their health and wellbeing. Our brands have always led the way with authenticity and purpose to create deeper connections with consumers and communities. ‘Brands with Purpose’ is one of the 8 focus areas of our ESG 2.0 framework, that has been developed with the intent of establishing a dynamic strategy to strengthen the business’s core purpose. By 2030, Marico aims to cohere the purpose, messaging, and impact- based actions of its top brands with the goals and targets outlined by the United Nations Sustainable Development Goals.

Brands with Purpose

By virtue of our product stewardship principles, we are committed to use safe ingredients in our product formulations. We uphold rigorous policies and stringent commitments ensuring that every product is crafted with the highest quality, safe ingredients prioritizing the well-being and trust of our consumers. Marico R&amp;D, Manufacturing and Procurement teams continuously monitor all relevant compliance and/or regulatory updates related to our core ingredients and also undertake projects every year for evaluating alternative materials in formulation. This has helped in reducing usage of hazardous and toxic chemicals over the years. Our value chain partners are mandated to undergo certifications related to product quality which also considers the reduction of hazardous chemicals to ensure ingredient safety.

Chemical Safety

Energy and Emissions

Extended Producer Responsibility (EPR)

Circular economy is a model of production and consumption which involves reusing, repairing, recycling of existing materials and products. Under ‘UpCycle’, Marico’s circular economy program, it is our ongoing endeavour to tap every opportunity to reduce, reuse and recycle waste generated from our operations. An 8-lever model is used to optimize material consumption, recycle or dispose waste in an environment-friendly manner as well as avoid emissions generated from materials procurement to the best extent feasible.

Human Rights

Marico follows a ‘Code of Conduct’ (COC) and ‘Marico Code of Business Ethics’ (MCOBE) with the underlying belief of conducting business in an ethical manner. This facilitates a work ecosystem that is conducive to the organization's members and associates. The Code sets out principal guidelines to be followed by all members (employees) and associates (distributors, consultants, vendors, suppliers, third party manufacturers etc.) of Marico.

Disaster Relief and Management

Livelihood Impact

Marico’s purpose of ‘Make a Difference’ to the lives of all its stakeholders to help them achieve their full potential is foundation of our CSR program. While the Ministry of Corporate Affairs has spelt out the CSR activities under Schedule VII to the Act, in order to build focus and have a&nbsp;more&nbsp;impactful&nbsp;execution&nbsp;with&nbsp;a&nbsp;view&nbsp;to&nbsp;make&nbsp;a&nbsp;difference,&nbsp;Marico’s&nbsp;CSR&nbsp;efforts&nbsp;are focussed in following areas: a)&nbsp;&nbsp;Sustainable Agriculture b)&nbsp;&nbsp;Scalability of Social Organization&nbsp;c)Community &amp; Livelihood Development d)&nbsp;&nbsp;Education e) Health Care f)Water Security g) National Emergency and Disaster Relief h)&nbsp;&nbsp;Afforestation

Occupational Health and Safety

Risk Management

Marico has put in place a robust Crisis Management Framework monitored by internal crisis management committee which is responsible for laying out crisis response mechanism, communication protocols, and periodic training and competency building around crisis management. Committed to resilience and preparedness, we prioritize the safety of our stakeholders by implementing proactive policies, swift response protocols, and innovative solutions, ensuring stability and security even in the face of unforeseen challenges.

Crisis Management

With our Responsible sourcing strategies, we are rigorously working towards developing traceability systems to map the supply chain and establish the origin of all our raw materials. We collaborate with farmers through our sustainable agricultural program to align all the stakeholders in our supply chain with our target of achieving zero biodiversity and forestation loss. We take preventive actions to minimize biodiversity and forest loss in and around our manufacturing facility helping us be in alignment with our environment policy.

Determining Materiality Subsidiaries

Clause 36 of the Equity Listing Agreement entered into by the Company with Stock Exchanges required all listed entities to disclose to the Stock Exchanges inter-alia all events which have a bearing on performance/operations of the Company, and which are price sensitive in nature. This policy helps in making timely and adequate disclosure of material events/information so as to enable the investors to take well informed decision.

Determination of Materiality of Events or Information

Dividend Distribution

Clause 49 of the Listing Agreement with the Stock Exchanges requires all listed companies to formulate a policy for determining Material Subsidiaries. A Subsidiary in relation to the Company shall be considered as material if the investment of the Company in such Subsidiary exceeds 20% of its consolidated net worth as per audited balance sheet of the Company of the previous financial year or it has generated 20% of the consolidated income of the Company during previous financial year.

Marico is biased towards positive action, and agility is the approach when it comes to disaster responses. We prioritize swift, compassionate response through strategic policies, ensuring immediate aid to the affected community in collaboration with local authorities and civil society organizations, and enable volunteers to aid in the relief work. We are committed to support community in natural disasters, pandemic, or similar situations.

Marico strives to foster a positive and enabling work environment for all its members irrespective of race, caste, religion, marital status, gender, sexual orientation, age, nationality, ethnicity, ability, or any other personal characteristic. Building and sustaining a discrimination and harassment free workplace where members can be their best, personally and professionally is at the core of our culture.

The philosophy of the Company is to maximise the shareholders’ wealth in the Company through various means. The Company believes that driving growth creates maximum shareholder value. Towards this end, the Policy lays down parameters to be considered by the Board of Directors of the Company for declaration of Dividend from time to time.

Marico has conducted various projects in own manufacturing facilities as well as in value to reduce GHG emissions. Projects in own manufacturing facilities are focusing on improving process efficiency, low carbon usage while projects in value chain include material consumption reduction, material substitution and transport optimization. Being cognisant of the climate-related risks that arise from high energy demand, we have developed a robust carbon management strategy that prioritises actions related to energy efficiency, fossil fuel avoidance, renewable energy transition, carbon forestry, and reduction of carbon footprint across our product’s life cycle.

Environmental sustainability is a crucial element of Marico’s purpose-led long-term strategy. Owing to the nature of our products, we share an intricate relationship with natural resources and preserving them is our prime responsibility. Impact objectives of resource optimisation, responsible consumption, climate resilience, sustainable manufacturing operations and waste minimisation&nbsp;are&nbsp;deep&nbsp;rooted&nbsp;in&nbsp;our&nbsp;company&nbsp;goals.&nbsp;We&nbsp;intend&nbsp;to&nbsp;amplify&nbsp;our&nbsp;efforts&nbsp;such that&nbsp;we&nbsp;benchmark&nbsp;ourselves&nbsp;against&nbsp;the&nbsp;global&nbsp;best&nbsp;practices&nbsp;and&nbsp;expand&nbsp;our&nbsp;horizons towards protection of natural assets across our global business footprint and beyond

Prevention of Sexual Harassment (POSH)

Marico is an equal opportunity employer and promotes diversity and inclusion in its workforce, in terms of skills, ethnicity, nationalities and gender. The Company does not tolerate any form of discrimination at the workplace. We recruit, select, develop, transfers, and promotes basis our principle of meritocracy which considers the performance, potential, competence of the member along with the requirements of the role and business.

Equal Opportunity

In alignment with the Plastic Waste Management (PWM) Rules, 2018 and the national guidelines on Extended Producer Responsibility (EPR) released in 2022, Marico had undertaken collection, recycling, co-processing, and safe disposal of pre- and post-consumer waste including multilayer plastic, rigid and flexible plastic. By virtue of our commitments towards circular economy, we actively advocate for sustainable waste management, embracing policies that ensure responsible product lifecycle, recycling initiatives and reducing environmental impact. Marico is founding member of India Plastics Pact (IPP), a global leadership platform to propel India’s capability in handling challenges related to plastics.

Marico’s stringent policies, quality control measures and programs like ‘Supplier Quality Excellence’ enable our value-chain partners to supply raw materials that are safe, legally compliant and conforms to highest quality specification. We ensure uncompromised excellence in the quality of our products, prioritizing the health and wellbeing of our consumers through transparent and responsible food safety practices. Marico is actively involved with Eat Right initiative across the country to ‘Make a Difference’ by promoting food safety and healthy eating habits. Our R&amp;D programs further support consumer health initiatives.

Food Safety

Grievance management enables all stakeholders to raise their concern effectively. Marico Code of Conduct details the grievance procedures applicable to all members of Marico. Concerned people can reach out to the designated Single Point of Contact (SPOC). The Company has worked towards creating tech-enabled, simplified, people independent processes and solutions for issue and grievance resolution of channel partners.

Grievance Management

As a responsible corporate citizen, Marico believes in offering consumers safe, healthier, and affordable products that comply with the regulatory guidelines and quality standards. We make concerted efforts to decrease ingredients of concern and focus on healthy ingredients and nutrients with inherent goodness in its product portfolio to contribute positively to an individual’s daily nutritional requirements. We aim to minimize health and safety risks and Marico Information classification: Officialany potential negative impact on people, animals, and environment, while actively improving beauty, health and nutrition benefits our products can deliver for the consumers.

Health & Nutrition

Marico Limited is committed to respect human rights of its employees and people working for or on behalf of Marico, communities in which it operates and those impacted by its operations (including customers, contractors, and suppliers). Marico believes that for furthering the company’s philosophy on sustainability, upholding human rights across its operations and value chains is critical. For Marico, respecting and protecting recognized human rights for every individual is a commitment that includes promoting diversity, non-discrimination, and freedom of association.

Privacy

Whistleblower

The Company is committed to the protection of the information assets and information technology resources that support its operations globally. The purpose of this Policy is to maintain, secure, and ensure legal and appropriate use of the Company’s information technology infrastructure.

Information Security

At Marico, we work to improve the last mile of people's lives through a variety of sustainable agriculture and livelihood improvement interventions that emphasise farm productivity, farm technology solutions, social security scheme facilitation, digital literacy, afforestation, integrated watershed management projects, water potential creation, and community development initiatives to make a lasting difference. Marico places a strong emphasis on empowering the farmer community and introducing innovation and technology to the world of agriculture.

Net Zero refers to the balance between the amount of greenhouse gas (GHG) that's produced and the amount that's removed from the atmosphere. We have developed a robust carbon management strategy that prioritises actions related to energy efficiency, fossil fuel avoidance, renewable energy transition, carbon forestry, and reduction of carbon footprint across our product’s life cycle. Marico’s net zero emissions’ target in global operations has been set for 2040. In India, however, we intend to achieve net zero in operations by 2030.

Net Zero

Marico has ensured that there are plans in place for orderly succession for appointments to the Board and to senior management. The policy acts as guidelines for Board of Directors of the Company on nomination, remuneration and evaluation of Directors, Key Managerial Personnel, Employees in Senior Management, Individual Director, Chairperson of the Board, the Board as a whole and the committee of the Board.

Nomination, Remuneration & Evaluation

Marico is committed to ensuring a healthy and safe work environment at its facilities to protect people including its employees, contractors, business partners, service providers, visitors from any physical harm. Towards this Marico provides necessary resources and information&nbsp;to&nbsp;build&nbsp;a&nbsp;strong&nbsp;safe&nbsp;culture&nbsp;across&nbsp;the&nbsp;organization.

The Company shall preserve all its records as per the requirements and provisions of the Companies Act, 2013 and the Rules made thereunder, the Secretarial Standards, the Listing Agreement and the SEBI Regulations and any all-other applicable law, rules, regulations, internal policies of the Company, in force. The document and records which are no longer current, but which are required to be preserved for a specified period of time or permanently under the applicable laws/ rules/ regulations shall be archived by the Company.

Preservation & Archival of Documents & Records

Marico is committed to provide a harassment free workplace notwithstanding race, caste, religion, colour, ancestry, marital status, gender, sexual orientation, age, nationality, ethnic origin, or disability, as the case may be. In compliance with the requirement of the Sexual Harassment of Women at Workplace (Prevention, Prohibition &amp; Redressal) Act, 2013 and rules made thereunder, the Company has adopted a policy (“Anti-Sexual Harassment Policy”) for the prevention of sexual harassment and constituted Internal Committees to deal with complaints relating to sexual harassment at workplace.

Marico values and respects privacy of all its stakeholders. Our Privacy Policy prioritizes data protection, transparency, and user rights, ensuring that our practices adhere to the highest standards and reflecting our dedication towards safeguarding individual privacy in the digital age. The practices mentioned in our policy, are consistent with the Information Technology (Amendment) Act, 2008 and adoption of amendments as and when notified subject to its applicability.

Product quality is our priority. We enforce strict standards and practice certifications for compliance, safety, and responsible sourcing. We select high-quality raw materials, packaging materials and exercise rigorous safety controls. Our quality management framework governs ingredient safety and product quality at each stage in the value chain.

In line with our Product Stewardship policy, we strive to reduce the overall environmental footprint of our products across their lifecycles, ensure 100% compliance of product quality, ingredient safety and transparent disclosure on product formulations, and accelerate consumer-centric product innovations to improve the value of our products. We commit to provide nutritional information and claims in line with FSSAI regulations in India. All our products are tested in accordance with the applicable regulations at laboratories and are certified by the National Accreditation Board for Testing and Calibration (NABL). Similarly, nutritional labelling and claims made on our products intended for international markets comply with the respective local market regulations.

For&nbsp;Marico,&nbsp;product&nbsp;stewardship&nbsp;involves meticulous policies and unwavering commitments towards prioritizing lifecycle impact of products, ensuring responsible sourcing, sustainable manufacturing and recycling practices, embodying our pledge towards environmental responsibility and consumer wellbeing. We aim to minimize health and safety&nbsp;risks&nbsp;and&nbsp;any&nbsp;potential&nbsp;negative&nbsp;impact&nbsp;on&nbsp;people,&nbsp;animals,&nbsp;and&nbsp;environment,&nbsp;while actively improving health, nutrition and/or wellness benefits our products can deliver for the consumers.

The aim of ‘Related Party Transaction’ is to regulate transaction based on the laws and regulations applicable to the Company in this regard and to ensure proper approval and reporting of transactions between the Company and its Related Parties. The Policy has been amended in line with the amendments made to the SEBI LODR Regulations vide notification dated November 9, 2021. The Audit Committee reviews all transactions entered into pursuant to the omnibus approvals so granted, on a quarterly basis.

Related Party Transaction

Marico Limited is committed to follow ethical and responsible marketing practices across our carefully nurtured portfolio of brands that include hair care, skin care, edible oils, healthy foods, male grooming and fabric care. Our policy prioritizes transparency, honesty and social consciousness, ensuring that our marketing initiatives contribute positively to society while upholding the highest standards of integrity and consumer trust. Our campaigns are aligned with societal expectations, and we adhere&nbsp;to&nbsp;all&nbsp;global, national and local statutory regulations pertaining to marketing of all our products.

Supplier Code of Conduct

Responsible sourcing practices facilitate businesses to manage and mitigate a range of value chain risks, consumer preference, better compliance, and improved reputation. SAMYUT (our Responsible Sourcing Program) which, in Sanskrit, means coming together to achieve, endorses our intent of sourcing material and services through suppliers and business associates, who share our sustainability vision of upholding ethical standards, protecting environment, and empowering society through proper governance, while enhancing economy.

Marico believes that risks are an integral part of any business environment, and it is essential that we create structures that are capable of identifying and mitigating risks in a continuous and vibrant manner. We integrate risk management with strategy formulation and business planning processes. This policy has been established by the management, to identify, assess, mitigate, monitor, and report the key risk categories (such as Strategic, Financial, Operational, Regulatory, Reputational, Third-party, Sustainability, Technological Risks) on a periodic basis.

Stakeholder capitalism sits at the heart of Marico's business vision, strategy and responsible growth story. It defines our purpose and accelerates our impact creation potential such that we are able to make a difference in the lives of all stakeholders who inspire us to survive and thrive. The stakeholders are identified based on the value delivered to each of them, and Marico believes that by prioritizing their needs, we can build symbiotic bonds with their stakeholders based on trust, resilience, agility, and responsible growth. As a result, a unique value proposition has been developed for each of our stakeholders based on their significance to the company. Our aim is to safeguard our stakeholders' interests and futureproof the value delivered to each one of them, over short, medium and long term

Stakeholder Management

The Supplier Code of Conduct ensures that all businesses conducted by Marico in any capacity are done in an ethical and sustainable manner while being beneficial to all our stakeholders. The Code is principally derived from Marico's Code of Conduct to uphold the organization's values on ethical standards and fair practices across the value chain. By agreeing to the terms of this Code, our value chain partners align with Marico's principles of transparency, sustainability and responsible business conduct, reflecting our dedication to fostering a value chain that prioritizes integrity and social responsibility.

Marico’s Supplier Code for Responsible Sourcing in agri-based value chains serves as a vital ethical compass, guiding agricultural businesses towards sustainable and socially responsible practices. This Code outlines a set of principles and standards that suppliers must adhere to, ensuring that the entire value chain operates with integrity and respect for human rights, environmental conservation, and fair labour practices. It emphasizes the importance of sourcing raw materials ethically, encouraging suppliers to engage in environmentally friendly agricultural practices, conserve natural resources, and minimize the use of harmful chemicals. Furthermore, the Code promotes fair treatment and just compensation for farmers and workers, fostering inclusive growth within the agri-based industry. By adhering to this Supplier Code, businesses not only uphold their social responsibility but also contribute significantly to the long-term viability of agriculture, fostering a sustainable future for both the industry and the planet.

Supplier Code of Responsible Sourcing - Agri Value Chain

Marico's commitments towards sustainable agriculture ensures that the entire value chain operates with integrity and respect for human rights, environmental conservation, and fair labour practices. It emphasizes the importance of sourcing raw materials ethically, encouraging suppliers to engage in environmentally friendly agricultural practices, conserve natural resources, and minimize the use of harmful chemicals. Furthermore, the policies and innovative practices promote fair treatment and just compensation for farmers and workers, fostering inclusive growth within the agri-based industry.

Ensuring safety of workforce at the workplace as well as during the official tour/daily commuting is our prime responsibility. Through comprehensive policies and proactive risk identification and mitigation measures, we prioritize the well-being of our employees and communities, promoting responsible travel practices and ensuring highest standards of road safety in our own operations.

Travel and Road Safety

Waste management effectively reduces the effect of toxic wastes on the environment and human health. Committed to environmental stewardship, we prioritize responsible disposal, recycling and reduction strategies, ensuring a minimal ecological footprint and contributing to a sustainable future. Across all our manufacturing operations, all the wastes generated (hazardous and non-hazardous) are disposed through authorized partners.

Water stewardship means use of water in ways that are socially equitable, environmentally sustainable, and economically beneficial. Jalashay’, Marico’s water stewardship program focuses on replenishing more water in comparison to the amount of water consumed in its own operations, year on year. It takes into account the environmental, social and economic concerns that might arise from water stressed regions and proactively undertakes efforts towards abating them.&nbsp;By 2030, Marico aims to achieve certified water-neutral operations across all its manufacturing facilities by offsetting 100% of consumption volume with capacity created for community use. We are also committed to reduce our water intensity and ensure recycling of treated water in operations.

Marico has a robust vigil mechanism in the form of Code of Conduct (“CoC”) which enables its stakeholders to report concerns about unethical or inappropriate behaviour, actual or suspected fraud, leak of unpublished price sensitive information, unfair or unethical actions or any other violation of the CoC. All cases reported under the whistleblower policy are reported to the Code of Conduct (CoC) Committee and are subject to review by the Audit Committee.

Policies and Commitments