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VVF, which is primarily into personal care products and oleochemicals, said on Sunday it is eyeing 20 per cent revenue growth this fiscal.
“We are looking at about 20 per cent growth in our domestic sales and 7 per cent from our overseas business,” VVF President and Director for Personal Care Products Rashmin Joshi told PTI here.
The company earns revenues of Rs 1,750 crore from domestic business and Rs 1,500 crore from exports. VVF is mostly into contract manufacturing and has Nivea, J&J, Henkel, Reckitt Benckiser and Amway as some of its leading clients.
That apart, it also sells its own soaps under the Doy Care, Jo and Bacter Shield labels.
Its domestic revenues largely come from the oleochemicals business, which accounts for 65 per cent of its total top—line, and the rest comes from the personal care segment.
Its entire overseas revenue comes from the personal care segment.
VVF has a market share of 9 per cent in the sub-popular soap segment, which is estimated to be worth Rs 1,400 crore.
It is targeting a marginal increase in its share of the segment this fiscal. It also plans to expand its presence in Western Africa’s Ecowas region and Russia.
The Ecowas region consists of 15 countries, including Gambia, the Ivory Coast, Mali, Senegal, Liberia, Ghana, Niger, Nigeria, and Sierra Leone, among others.
“We are actively looking at opportunities in Ecowas countries. We are also looking at new opportunities in Russia. These are the two areas on our radar,” Joshi said.
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