Mumbai, Oct 3 (PTI) Agarbatti manufacturer Mysore Deep Perfumery House (MDPH), which owns the Zed Black Agarbatti brand, on Monday said it has forayed into the puja essentials segment and expects Rs 200 crore revenues from this business in the next three years.
“The puja essentials segment, mostly unorganised, is around Rs 2,000 crore in the country. With the launch of ‘Samarpan’, a widest range of puja samagri products, we are looking at 10 per cent of the market share and around Rs 200 crore revenue in the next three years,” Mysore Deep Perfumery House and Zed Black Director Ankit Agrawal told PTI.
For the new business, the company has set up a unit near its existing four agarbatti factories in Indore, Madhya Pradesh.
In 2021-22, the total revenues of Mysore Deep Perfumery House and Zed Black stood at Rs 500 crore.
“We are expecting to employ over 300-400 unskilled workers in the puja essentials, 80 per cent of which will be women,” Agrawal said.
According to him, the current agarbatti market is pegged at Rs 7,000 crore and Zed Black enjoys a market share of nearly 20 per cent of the organised market. Its brands are Zed Black 3 in 1, Manthan Dhoop, Manthan Sambrani Cups, Aarogyam Camphor, Zed Black Pineapple, Shriphal, Gauved Sambrani Cups, Aromix and Nature Flower Gold and Cian.
The company also exports to more than 40 countries, including the US, Brazil, Ethiopia, the Netherlands, Australia and Malaysia.
“Currently, our agarbatti export is 5 per cent and we are planning to increase it to 15 per cent in the next three years,” Agrawal said. PTI SM RAM
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Source: The Print
