How Marico Industries came to be

Harsh Mariwala was born on 14 May 1951 to Hemlatha and Charandas V Mariwala, an oil manufacturer and a member of one of Mumbai's more prominent Gujarati business families. Childhood meant a boisterous large joint family, playing hide-and-seek with cousins of all ages in a lovely bungalow at Haji Ali.

A few of them joined him when he enrolled for a BCom degree at Sydenham College. "I am not an MBA, but there are over 300 MBAs in Marico. One has to continuously read to know the jargon, to keep up with them, and understand the latest trends," says Harsh wryly.

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Harsh's started his business career in 1971 by joining the family firm, Bombay Oil Industries Limited (BOIL). BOIL's history can be traced back to 1862 when Kanji Morarji, started a small trading business in Mumbai.


By 1948, the Mariwalas had taken it over and expanded it, adding manufacturing facilities in Mumbai, including a coconut oil extraction plant, a vegetable oil refinery and a small chemical plant.

By the time Harsh joined the company, BOIL was well established as a leading player in industrial chemicals. 1975 saw him promoted to the company's Consumer Products division in 1975, and he functioned as its Executive Director from 1980-1990.

Soon the job was too small for the entrepreneur in him. In 1990, he separated from the family business. BOIL retained the fatty acids and chemicals division, but Harsh used his share (which included premium brands such as Parachute) to launch Marico Industries Ltd. Within two years of launch, sales rose to Rs 1.1 bn. Today sales are almost Rs 8 bn.


Source : Moneycontrol
 
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