FMCG (fast moving consumer goods) company Emami, which has in its fold brands such as Zandu Balm, Navaratna Oil, Fair and Handsome and Boroplus Antisceptic cream, is planning a new unit in Assam, Naresh Bhattasali, CEO, Finance, Strategy and Business Development, said. The company has seven units, of which two are in the North Eastern State.
Talking to reporters after the company’s annual meeting here on Wednesday, he said the company was in the process of identifying the land and an investment of around Rs.40 crore had been earmarked for this project, where personal care products would be made.
To questions as to whether the poor monsoon would be a cause for worry for the company which had identified rural markets as a focus area, he said that while this did not impact FMCG companies in a major way, the effect, if any, would only be felt from the third quarter.
Company Chairman R. S. Agarwal told shareholders at the annual meeting that Emami had now emerged as one of India’s fastest growing FMCG companies.
Emami, for whom exports had a 13 per cent share of the total revenues (of Rs.1,453 crore in 2011-12), sees a “correction in its overseas sales”. Mr. Bhattasali said that measures such as stock reduction were being initiated.
Emami closed its first quarter with a 14.1 per cent growth in sales, which touched Rs.339 crore. Post-tax profit at Rs.47 crore was 12.3 per higher than the same period in 2001-12.