BANGALORE: Chairman of Karnataka Soaps and Detergents Limited (KSDL) and MLA Shivananda Naik on Friday announced that KSDL had registered a profit of `16.03 crore for the fiscal of 2011-12. “The company has achieved `262.56 crore sales and `238.00 crore collection as compared to the `205 crore sales and `181.50 crore collection last year,” said Naik.
Addressing a press conference in the city on Friday, he said the company had grown by 28 per cent in terms of sales at a time when private soap factories witnessed a 15 per cent growth.
Speaking on sales of the premium Millennium Sandal Soap which is their flagship product priced at `720, he said that out of 12,000 pieces manufactured in January, around 200 were left.
The company will also launch new products like Mysore Sandal Liquid Body Wash and perfume sprays like Mysore Magic Bouquet and Mysore Magic Fresh. “The liquid body wash is being introduced keeping in mind the foreign markets where preference for the soap bars is less. We will position Mysore Sandal as an Indian international brand,” Naik added.
The company has also proposed a `22-crore project to the government to set up two new finishing lines which can produce soaps in different shapes. “We have also paid a security deposit to Gas Authority of India Limited (GAIL) which will be supplying liquefied natural gas (LNG) to us in the next 10 months. This will lead to lesser environmental impact,” said Managing Director of KSDL, S Shekar.
Shekar also announced that discussions were on with the Corporation Bank to enter into a tripartite agreement with farmers where attractive incentives and loans would be provided to sandalwood farmers.
Also, machine rolled agarbattis will soon be introduced. Also, an increased budget for advertising which will inform the consumer about 38 different KSDL products is planned. “Our quality is top notch. We have products like coconut oil, Kleenol liquid and room fresheners that people do not know about. We have asked for permission to advertise all these aggressively,” Naik said.
KSDL with seven branches across the country has a current share of 12 per cent in the state soap market. The Bangalore branch recorded 49 per cent growth in 2011-2012.