FMCG firm Jyothy Labs Ltd has set its sights on an ambitious goal — consistently achieving a double-digit growth every year. Spearheading this vision is Managing Director MR Jyothy, who firmly believes in the untapped potential for expansion within the company.

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Speaking to CNBC-TV18’s Mangalam Maloo, Jyothy said, “We have barely scratched the surface of our growth potential. There's ample room for us to expand and evolve, and our goal is to achieve a double-digit growth rate annually.”

Highlighting the company's growth strategy, Jyothy emphasised the importance of distribution expansion. She explained, "Our growth will be incremental, and a significant aspect of our expansion is focused on enhancing our distribution network. This strategic approach will enable us to tap into new markets and reach a wider audience."

Over the past 5 years, the revenue of Jyothy Labs has grown at a CAGR of 6.6 percent, according to analyst firms, which analysed the company's annual reports for the past several years. While, the company posted 13.2 percent growth in revenue in the financial year 2022-23.

The Mumbai-based company’s flagship brand is Ujala Supreme and it holds a commanding 85 percent market share in the Fabricare segment. Jyothy attributed this success to the brand's enduring legacy and the consumers' unwavering trust.

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Jyothy also shed light on the Margo brand, emphasising its historical significance and recent innovations. "Margo, with its century-long existence, signifies consumers' trust in its authenticity. We've witnessed strong positive feedback from the market following our recent variant extensions, a testament to the anticipation that consumers have for Margo's offerings."

Discussing the contribution of the personal care segment, Jyothy acknowledged that while the sector currently accounts for 10-12 percent of the company's revenue, there's a desire to elevate this percentage. She expressed, "We are determined to elevate the personal care segment's contribution to our overall revenue. I would want that percentage to go up to somewhere around 15-20, and that would be a good place to be."

For full interview, watch accompanying video

(Edited by : C H Unnikrishnan)

First Published:Aug 18, 2023 4:31 PM IST