In an interview CNBC-TV18, Sumit Malhotra, MD of Baja Corp said that the first quarter was disappointing in terms of volume growth as poor rural growth led to less consumption.
Sumit Malhotra, MD of Bajaj Corp, says, Q2 volume growth is largely driven by Bajaj Almond Drops and Brahmi Amla. He says the company has over 60 percent market share in light hair oil segment.
FMCG firm Bajaj Corp is seeking shareholders' nod to raise Rs 1,000 crore by issuing equity shares to institutional buyers through QIP
With the acquisition, the company aims to strengthen its position in the personal care segment. Bajaj said it will leverage on its distribution strength to grow Nomarks brand.
Nomarks has more than 12 percent market share in the Rs 342 crore anti-marks category and the brand acquisition gives hair oil maker Bajaj Corp an entry into the skin care market.
It has been one of the top companies in the Rs 10,000 crore hair care industry in India, and is now looking at expanding in other geographies. Bajaj Corp, the maker of Bajaj Almond Drops and Kailash Parbat brands of hair oils says it is speaking with several potential targets right now and has several consultants advising it on it.