New Delhi: FMCG firm Jyothy Laboratories is aiming to double its turnover to around Rs 2,900 crore in the next four years on the back of market expansion and extension of sub-brands.
The company is looking to expand the market reach of some of its products which have strong regional presence across India in order to drive growth.
"In the next 3-4 years, we want to double our sales turnover and triple our profits. The growth would come organically as everywhere, we have small market share and it would grow," Jyothy Laboratories JMD and CFO Ullas Kamath told PTI.
In FY 2014-15, Jyothy Laboratories -- which has its presence in fabric care, home care, personal care, household insecticide and dishwash categories -- had a revenue of Rs 1,437.82 crore and a net profit of Rs 142.79 crore.
He further said except the company's fabric care brand Ujala, which has 35 per cent market share in the category, other brands have small base and a lot of scope to grow.
"Now, we would take some of the regional brands to the national level," Kamath said.
"We are taking successful brands from one region to other region and brand extension as Margo facewash and Maxo Magic Cards within the category but there will be no big launches in any big category verticals in the current year," he said.
Presently, 60 per cent revenue of Jyothy Laboratories comes from urban area and rest from the rural markets.
The company expects shares of its urban market to increase further through products that it had acquired from Henkel.
Expressing concern over slowdown in the rural market, he said, "The contribution on rural may go down in coming time as offtake in December and March was not so good and our dependence on urban would be far more as compared to rural areas."
He further added that household insecticide segment, which presently contributes 20 per cent, would increase further as there is a growing awareness in the society after cases of dengue and chikungunuya.
"This is a big category and there are not big players in this segment. It's just a four player game and we are the third player in the market... This category is growing in double digit compared to other products," Kamath said.
Over the capacity expansion, he said that presently the company has utilised only 60 per cent of its installed capacity and has enough space for next few years.
"The company has presently enough capacity and the company would outsource whenever it would be required.
Overall, the company is doing a capex of Rs 10-12 crore every year," he said.
Presently, Jyothy Laboratories has 28 units at 16 locations.
On exports, he said the company has set up a factory in Bangladesh in collaboration with a local group. It mainly exports to around 17 countries.
"Export contributes around 3 per cent of the total revenue and may go up to 7-8 per cent in coming years but focus would be the Indian market," Kamath added.