Marico, famed for its Saffola and Parachute brands, saw its shares fall by more than 4% on Tuesday. The reduction coincides with political upheaval in Bangladesh, a country that contributes considerably to the company's sales.

According to Nuvama analyst Abneesh Roy, the interruptions created by Bangladesh's political turbulence may raise worries for Marico in the second quarter of the fiscal year. He also stated that Marico has the most exposure to Bangladesh at 11-12% of its consolidated business, implying that other FMCG businesses have less exposure.

Despite the current hurdles, Roy stated that Marico's two-decade history in Bangladesh could help company preserve a competitive advantage. 

In its June quarter results, Marico stated that Bangladesh's contribution to its entire overseas business has been declining. During the June quarter, its Bangladesh business had a 10% increase in constant currency, indicating resilience and continued momentum.

Marico's regulatory filing stated that while Bangladesh and Vietnam have performed well, substantial expansion in the MENA and South Africa areas has diversified the company's worldwide operations, reducing its reliance on Bangladesh.

Marico's consolidated net profit increased by 8.7% to Rs 464 crore in the June quarter, while operating revenue increased by 7% to Rs 2,643 crore. Meanwhile, domestic brokerage Prabhudas Lilladher has reduced Marico to a hold rating, citing the current crisis in Bangladesh as a contributing issue.