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Zydus Wellness posts domestic sales growth of 12.2% in 2nd quarter ’18
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Wednesday, 14 November, 2018, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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Zydus Wellness Ltd reported a 12.2 per cent growth in domestic sales and consolidated income from operations of Rs 1,382 million in the second quarter ended September 30, 2018, representing growth of 11.9 per cent. The reported profit after tax stood at Rs 414 million.
The company also launched Sugar Free D’lite chocolates in the Middle-Eastern countries, like Bahrain, Oman and the United Arab Emirates (UAE) during the quarter.
In addition to being popular fast-moving consumer goods (FMCG) brands, the portfolio that was acquired from Heinz India (Complan, Glucon D, Nycil and Sampriti Ghee) had strong science-based products, which are synergistic with the company’s existing portfolio of brands - Sugar Free, EverYuth and Nutralite.
As per the MAT September 2018 report of Nielsen, Sugar Free maintained its number one position with a market share of 93.9 per cent, EverYuth Scrub maintained its number one position with a market share of 32.6 per cent (which is an increase of 90 basis points [bps] over the same period last year) and EverYuth Peel Off Mask maintained its number one position with a market share of 84.7 per cent.
During the quarter, Zydus Wellness also laid the grounds for the launch of Sugarlite 100 per cent natural blended sugar that has 50 per cent less calories than normal sugar. This unique product is a pioneer in its category and comes from the company’s research pipeline.
It continued to expand its presence in the international markets during the quarter with the export of Nutralite in new markets like Qatar and Sri Lanka.
Close on the heels of the second quarter ended September 30, 2018, Zydus Wellness announced that it has entered into a definitive agreement to acquire the subsidiary of Kraft Heinz, Heinz India Private Limited.
In addition to the aforementioned brands, it acquired two large manufacturing facilities in Aligarh and Sitarganj and teams devoted to operations, research, sales, marketing and support.
Following this, the company will be able to catapult its revenues by three times, to about Rs 1,700 crore.
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