Wednesday, June 19, 2024

DS Group’s Confectionery Business Reaches Rs 1,000 Crore Milestone

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Dharampal Satyapal Foods Ltd. (DSFL), the confectionery arm of DS Group, has achieved a significant milestone, surpassing ₹1,000 crores in annual sales turnover for FY 2023-24.

The confectionery division of DS Group has grown at over 20% CAGR over the past three years, outpacing the industry growth rate of 9%. The company plans to accelerate its business with an estimated CAGR of 30% over the next five years through both organic and inorganic growth.

With one of the largest distribution networks in the country, DS Group’s confectionery products are available in over 26 lakh retail outlets, both directly and indirectly. The company holds a close dominant market share in the Hard-Boiled Candy (HBC) and Indian Ethnic Confectionery (IEC) segments as compared to its competitors. This growth is driven by innovation and a route-to-market omnichannel strategy, including modern retail, e-commerce, and quick commerce channels.

Aligned with its sustainability goals, DS Group has deployed a robust fleet of over 800 electric vehicles for the distribution of its confectionery products, contributing to a cleaner environment. Additionally, DSFL has successfully transformed the Indian Ethnic Confectionery category into a branded and organized market, providing consumers with unique options that cater to their preferences.

Leveraging its deep understanding of the flavors and tastes of modern India, DS Group is strategically modernizing its ethnic product portfolio. The company focuses on Gen Z habits, strengthens modern trade channels, capitalizes on influencer marketing, and harnesses new-age technologies to amplify product reach, embodying its corporate ideology of ‘Create What is Worth Creating’.

Commenting on the milestone, Rajiv Kumar, Vice Chairman, DS Group, said, “We are thrilled to announce the ₹1,000 crore sales turnover of our confectionery arm in FY 2023-24. This achievement results from our strategic focus on enhancing indigenization, expanding our product portfolio, and maintaining 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.”

Currently, DS Group holds a strong position in North and East India and is strategically expanding its presence in South and West India. The company aims to achieve a sales turnover of Rs 5,000 crore over the next five years.

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