Dharampal Satyapal Foods Ltd. (DSFL), the confectionery arm of DS Group, has achieved a significant milestone by surpassing INR 1,000 crores in annual sales turnover for FY 2023-24. DS Group is the second-largest confectionery player in the non-chocolate category and one of the largest and fastest-growing Indian confectionery companies. It holds a leadership position in the Hard Boiled Candy (HBC) and Indian ethnic confectionery (IEC) segments. Over the last three years, DS Group’s confectionery division has grown by over 20 percent CAGR, outpacing the industry’s 9 percent growth rate. The company plans to accelerate its business with an approximate CAGR of 30 percent over the next five years through both organic and inorganic growth.
DS Group boasts one of the largest distribution networks in the country, with its confectionery products available in over 2.6 million retail outlets. Its market share dominates the closest competitor in the HBC and IEC segments. Innovation and an omni-channel presence, including modern retail, e-commerce, and quick commerce, have been key growth drivers. Leveraging its strong foundation and understanding of flavors, fragrances, and consumer tastes, DS Group’s confectionery arm aims to achieve a sales turnover of INR 5,000 crores over the next five years through organic and inorganic growth. Currently, the company holds a dominant position in North and East India and is expanding strategically in South and West India.
Rajiv Kumar, Vice Chairman of DS Group, stated, “We are thrilled to announce the INR 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, DS Group has deployed a robust fleet of over 800 electric vehicles for confectionery product distribution, contributing to a cleaner environment. The Group is committed to responsible expansion with significant investments planned in the ESG space, governing DS Group through high professional and ethical standards, integrity, and responsible impact.
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. “Pass Pass” caters to those who enjoy a mix of flavors, while “Rajnigandha Pearls” offers a single-ingredient experience.
Through continuous innovation, DSFL has transformed the Indian Ethnic Confectionery category into a branded and organized market, providing consumers with unique options to suit their preferences. Leveraging its deep understanding of modern Indian flavors and tastes, the company is contemporizing its ethnic product portfolio, focusing on Gen Z habits, strengthening modern trade channels, capitalizing on influencer marketing, and harnessing new-age technologies to amplify product reach. This approach aligns with the corporate ideology of “Create What is Worth Creating.”
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