DS Group's confectionery business touches Rs 1,000 cr sales turnover in FY24
The company is aiming to take the confectionary business to Rs 5,000 crores in the next 5 years through organic and inorganic growth and with a special focus on the Indian ethnic confectionery segment.
Dharampal Satyapal Foods, the confectionery arm of DS Group, surpassed Rs 1,000 crores in annual sales turnover in FY 2023-24, the company said on Wednesday. This marks over 20 percent CAGR in the last three years, at a time when the industry has grown at 9 percent.
The company further plans to accelerate the segment’s business with a CAGR of approx. 30 percent over the next 5 years through organic and inorganic growth— taking it to Rs 5,000 crores worth of sales turnover. The segment has key brands including Pulse, Pass Pass, Rajnigandha Pearls, Chingles, Pulse Natkaare, and the recently acquired LuvIt; and has said that it will grow its presence in the chocolate segment.
DS Group's confectionery products are available in over 26 lakh retail outlets, directly and indirectly, and its market share dominates the closest competitor in Hard-Boiled Candy (HBC) and Indian ethnic confectionery (IEC) segment. “Innovation and the route-to-market strategy with an omni-channel presence including modern retail, e-commerce, and quick commerce, have been the key growth drivers. Building upon its strong foundation and leveraging the strength of its understanding of flavours and fragrances and consumer taste buds, the confectionery arm aims to achieve the said target,” it said. Currently, the company holds a dominant position in North and East India and is strategically expanding its presence in South and West India.
Rajiv Kumar, Vice Chairman of DS Group, said, "The ₹1000 crore mark achievement is a result of our strategic focus on enhancing indigenisation, expanding our product portfolio, and having one of the largest distribution networks in the country. Looking ahead, we aim to grow our presence in the chocolate segment while strategically expanding our leadership position in the Indian ethnic confectionery category with innovative products.”
Over the years, the company has transformed the Indian ethnic confectionery category into a branded and organised market. Further, leveraging its understanding of the flavors and tastes of modern India, the company is strategically contemporising its ethnic product portfolio while focusing on Gen Z habits, strengthening modern trade channels, capitalising on influencer marketing, and harnessing new-age technologies to amplify product reach. This accentuates the corporate ideology of ‘Create What is Worth Creating’.
In the ESG space, the company has a fleet of 800+ electric vehicles deployed in the distribution of confectionery products.
