NEW DELHI: Diversified firm Dharampal Satyapal Group (DS Group) expects its revenues from the confectionery business to nearly double in the current fiscal at Rs 230 crore and plans to further expand the vertical with an investment of Rs 150 crore.
The Noida-based company, well known for its consumer goods brands like 'Catch' and 'Pass Pass', had earmarked a total investment of Rs 150 crore in the confectionery business for 2012 and 2013.
"The company's confectionery business includes Pass Pass and Chingles, of which Pass Pass has closed at Rs 97.50 crore and Chingles has posted nearly Rs 18.16 crore in the last financial year. The expected turnover for 2013-14 is Rs 200-230 crore," DS Group Vice-Chairman Rajiv Kumar told PTI.
He said the company plans to add more products under the chewing gum category in the near future followed by products under the fast-growing non-gum non-chocolate (NGNC) category.
"The group had planned to invest Rs 150 crore in two years (2012 and 2013) in the confectionery business. Nearly, Rs 85-90 crore have already been invested in 2012. The remaining amount will be invested this year," Kumar said.
However, the company has no plans to enter into chocolate segment in the near future, he added.
As part of its plans to expand the confectionery business, the company has set up a manufacturing facility for Chingles in Noida with an investment of Rs 20 crore.
"This plant has a capacity to produce 200 tonnes and will be adding another 200 tonnes capacity," Kumar said.
The company, which has presence in various verticals, including FMCG, hospitality, tobacco, packaging and infrastructure, had a turnover of around Rs 3,200 crore for the financial year ended March 31, 2013.