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Bajaj Consumer Care Ltd.

BSE: 533229 | NSE: BAJAJCON |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE933K01021 | SECTOR: Personal Care

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Annual Report

For Year :
2019 2018 2017 2016 2015 2013 2012 2011

Chairman's Speech

Chairman''s Letter

Dear Stakeholders,

I have great pleasure in presenting the Annual Report of the company for the financial year 2018-19.

Macro-Economic Outlook

Despite several global headwinds, the Indian economy achieved stable growth mainly on the strength of ongoing structural reforms. However, the year also witnessed significant volatility in crude and currency movements. The rupee was under constant pressure and declined considerably on account of rising crude oil prices and strengthening of dollar due to higher fed rates. The consumer price inflation was within comfortable zone despite elevated crude oil prices during most part of the year. India continued to improve its ranking in the ease of doing business and is continuously emerging as an important player in the world economy. The recent landslide victory of the BJP government and the continuous pace of bold reforms is further expected to strengthen the growth prospects of the economy, though global challenges due to emerging trade tensions need to be assessed.

New brand identity

At the beginning of the year, we had initiated an exercise in corporate brand building to enable us to create a more unified group brand and align our various businesses to a shared brand identity. With the help of a globally renowned brand strategy and design company, we unveiled a new brand identity for the organization. This includes a new corporate logo and renaming the Company as Bajaj Consumer Care Limited, with more focus and purpose towards why we exist in the marketplace. This has also helped us to realign ourselves as an organization which Thinks Tomorrow. Our new Vision now is To harness our heritage of 90 years and combine it with leading edge scientific knowledge to bring innovative products for consumers across the world to help them get more out of life.

Company performance

The overall performance during the year was satisfactory and for the first time in history, we crossed the operating revenue of Rs, 900 crores on a standalone basis with a growth of 9.4% compared to the previous year. The EBITDA for the year has been 284 Crores, which is a very healthy 32% of our sales. This is despite rising cost of two key raw materials viz. light liquid paraffin which is directly linked to crude oil and mustard oil. The cost of other raw and packaging materials like perfume and glass bottles also witnessed upward revision. However, by proactive purchases and selling price increases, we were able to contain the rise in cost of goods sold and thereby mostly retaining our margins.

Continuing with our practice of rewarding shareholders, we have paid a handsome dividend of 1400% during the year under review.


Bajaj Almond Drops Hair Oil

For the first time in 25 years, Bajaj Almond Drops, our iconic hair oil brand witnessed a brand new packaging. We hired a UK based design agency to help design the biggest change in its history. The brand has moved on from its classic color palate to a premium pearl maroon and gold combination. The bottle design is sleeker, and label taken an almond like tactile effect.

The brand re-launch has been very successful and has resulted in market share as well as penetration gain. The value market share in light hair oil went up to 64% and the performance of the brand in the total hair oil segment touched an all-time high of 10%. This rise in market share has been driven by increase in household penetration. The penetration of Bajaj Almond Drops has gone up from 17.6% to 20.1%, which is an impressive rise of 2.5% in penetration within one year.

The brand''s new look is a crucial step for the brand, and it aims at targeting the new age consumers & build on its key imagery attributes of lightness, nourishment & premium feel in an environmentally sustainable manner.

In the last quarter of the year, we also launched ''Bajaj Cool Almond Drops'' in a cooling hair oil segment have been well received in the market.


The other brand we relaunched during the year was ''Nomarks'' which is showing positive result. On a company level, the brand has shown an impressive growth of 14% on an annual basis. The market share of the brand in antimarks category continues to do well and is currently at 8.6%. We also launched ''Bajaj Nomarks Sunscreen'' in the ayurvedic anti-marks sunscreen category during the last quarter of the year.


Distribution is one of the strengths of your company and we continued our focus on further improving it by implementing latest technologies to improve efficiencies of sales force. Today our brands are distributed through a network of more than 7000 stockists which covers about 4 million retail outlets in the country. We are committed to further invest in distribution and increase penetration and availability of our brands on the shelf.


In order to achieve full potential of our leading brand ''Bajaj Almond Drops hair Oil'', we have engaged the services of Bain & Company (Bain), the renowned global Management Consultant. Bain will help us in formulating a front-end strategy for growth and help in implementing it. It will help to grow our hair oil brands faster. They will be using their well respective BBA or Bain Brand Accelerator model to guide us towards faster growth. The preliminary aspect of what we wish to achieve was presented at the investors meet held on May 6, 2019 at Mumbai.

Responsibility towards Society

Your Company undertakes its CSR activities through the bajaj Foundation and has the vision of Integrated development of the society through participatory approaches that sets benchmarks and standards for others to emulate for sustainable development. We strive to empower rural communities to take charge of their own development in a participatory manner by developing and managing natural and human resources. Community development interventions focus on water resources development and strengthening agro based livelihoods. Bajaj Foundation also promotes alternate agro based livelihood opportunities such as dairy farming, natural farming, horticulture development, women''s empowerment through formation of their self-help groups, promoting farmers'' producers companies, climate proofing projects and biogas which not only provides additional steady income but enhances the quality of life of the rural community.

I wish to thank our villagers, government agencies and all stakeholders for their support which has ensured that we now reach 1120 villages benefitting 2.10 lakh families covering 10.38 lakh people in Wardha (Maharashtra) and Sikar (Rajasthan) districts to make them socio-economically prosperous districts.

Employees & organization culture

The Company is continuously striving to attract the best talent, enhance employee experience and improve employee retention. With the objective of being a great employer, we have conducted a cultural assessment through Egon Zhender, an HR consultancy firm of international repute, to help us evolve an industry best employee friendly working culture. I am further delighted to share that your company has now been certified as Great Place to Work for building a high trust and high-performance culture.

Way Forward

We challenge the status quo every day to constantly change, grow and surge ahead with an eye on creating a brighter tomorrow. We aim to create an organization which is future ready, system driven and create value for our stakeholders. We will continue to strive for operational efficiencies through automation and effective system and process improvement. We remain committed for profitable and sustainable growth in years to come by upholding highest level of corporate governance and integrity

With warm regards Kushagra Nayan Bajaj