Wipro Consumer Care & Lighting, a $1 billion dollar plus firm, will continue to scout for acquisitions in the Fast Moving Consumer Goods (FMCG) sector in domestic and South Asian markets besides growing organically as part of its growth strategy, a top company official said.
Besides, the company which owns brands such as Santoor and Chandrika, is expanding its footprints in the north and east regions and is also increasing its product portfolio. It has a good presence in the southern and western India.
Wipro Consumer Care & Lighting is also leveraging its Ayurvedic soap brand Chandrika to cash in on the current trend of organic products in FMCG segment and has plans to introduce more in the market under the brand name.
“We have already extended (Chandrika) to handwash, face wash and hair oil. Now we are leveraging that equity in more categories as the trends picks up,” Wipro Consumer Care & Lighting President Consumer Care – India & SAARC Business Anil Chugh told PTI.
Founded in 1945 as a vegetable oil company, Wipro Consumer Care & Lighting has now presence in over 40 countries and has done 11 acquisitions in last 15 years to expand its business.
The company as part of its growth strategy, is banking on both – organic and inorganic growth.
“Its a mix of both –organic and inorganic growth plan – which we want to pursue,” said Chugh.
On being asked as whether the company evaluating the opportunities for inorganic growth, Chugh said: “Yes, we keep on doing”.
Some of the acquisition by the company includes – Glucovita in 2003, Unza in 2007, Yardley (for Asia, Middle East, North Africa and Australasia) in 2009, Yardley UK in 2012, and L D Waxsons Group in 2012, Zhongshan Ma Er Daily Products Ltd in 2016.
Wipro Consumer Care & Lighting has “fairly big presence” in countries like China, Malaysia, Indonesia, Vietnam and the Middle East, apart from India, he added.
It reported annual revenue of Rs 7,150 crore last year, and has a growth rate close to 8 per cent.
According to Chugh, the company would focus on South Asian markets and the emerging nations besides the domestic market.
“The plan is to grow in all the countries,” he said, adding “our objective is to grow higher than the market growth rate and in India specifically, the categories where we are in, we want to gain market share…”
It has plans to “consolidate the position in personal wash – where we are fairly big and continue to gain shares there,” he said.
“Santoor is a big brand and we have leveraged Santoor equity in lot more categories such as handwash, bodywash, talcum powder. We will continue our game plan of organically and inorganically, and we would consolidate our position,” he said.
It will also consolidate its position in homecare with its brand Softouch and Safewash.
The company has also presence in the lighting space in the Indian market only.
Wipro Consumer Care business operates in segments such as soaps, toiletries, personal care products, wellness products, electrical wire devices, domestic and commercial lighting and modular office furniture.
Wipro Consumer Care & Lighting has 16 manufacturing facilities in five countries – India, China, Malaysia, Indonesia and Vietnam.
Source: Business-Standard