Mumbai: Dharampal Satyapal Foods Ltd (DSFL), the confectionery arm of DS Group, has achieved a significant milestone by surpassing ₹1,000 crores in annual sales turnover in FY 2023-24. DS 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 nine percent and plans to accelerate business with a CAGR of approx. 30 pc over the next five years through organic and inorganic growth.
With one of the largest distribution networks in the country today, DS Group's confectionery 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 ₹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.
Speaking on the occasion, DS Group vice chairman Rajiv Kumar said, "We are thrilled to announce the ₹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 indigenization, 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.”
Championing sustainability efforts, a robust fleet of 800-plus electric vehicles is deployed in the distribution of confectionery products, thereby contributing to a cleaner environment. The Group is driven towards responsible expansion with intense investments planned in the ESG space. The aim is to govern DS Group through the highest professional and ethical standards lead with integrity, and deliver impact responsibly while maintaining the trust of partners, colleagues and society.
DS Group's culture of innovation and commitment to quality is evident across all segments of DSFL's business. The company has crafted compelling brand narratives and distinct consumer propositions for its key brands like Pulse, Pass Pass, Rajnigandha Pearls, Chingles, Pulse Natkaare, and the recently acquired LuvIt. Despite the competitive nature of the hard-boiled candy market, DSFL's brand "Pulse" has maintained its position as the market leader for the past eight years. In the competitive Indian Ethnic Confectionery segment, DSFL stands out with its diverse offerings. The "Pass Pass" blend caters to those who enjoy a mix of flavors, while "Rajnigandha Pearls" offers a single-ingredient experience.
Through continuous innovation, DSFL has successfully transformed the Indian Ethnic Confectionery category into a branded and organized market, providing consumers with unique options to suit their preferences. Leveraging its innate understanding of the flavors and tastes of modern India, the company is strategically contemporizing its ethnic product portfolio while focusing on Gen Z habits, strengthening modern trade channels, capitalizing on influencer marketing, and harnessing new-age technologies to amplify product reach. This accentuates the corporate ideology of ‘Create What is Worth Creating’.
