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DS Group's confectionery business marks Rs 1,000 crore milestone
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Friday, 24 May, 2024, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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Dharampal Satyapal Foods Ltd. (DSFL), the confectionery arm of DS Group, has achieved a significant milestone by surpassing Rs 1,000 crores in annual sales turnover in FY 2023-24. The group is the second largest confectionery player in the non-chocolate category and amongst the largest, fastest-growing Indian confectionery players in the industry commanding a leadership position in the Hard- Boiled Candy (HBC) and Indian ethnic confectionery (IEC) segments. The confectionery division of DS Group has grown by over 20 percent CAGR in the last three years while the industry has grown at 9 percent and plans to accelerate business with a CAGR of approximately 30 pc over the next 5 years through organic and inorganic growth.
With one of the largest distribution networks in the country, its 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 of DS Group aims to achieve a sales turnover of Rs 5,000 crores over the next five years. This ambitious goal will be achieved through organic and inorganic growth. 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, "We are thrilled to announce the Rs 1000 crore sales turnover of the confectionery arm of DS Group in the financial year 2023-24. This 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.”
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