Jyothy Labs bets big on Ayurveda for growth

By

Maverick Martins

Published
Jan 30, 2019

FMCG firm Jyothy Laboratories is betting big on the ayurvedic-herbal category for growth in the Indian market as it looks to diversify its product portfolio with the addition of new brands in the personal care segment.
 

The company will be launching facewash under the ‘Margo’ brand in the coming months and has set a target of Rs 500 crore ($70.3 million) from its ayurvedic portfolio by the fiscal year 2022.
 
Jyothy Labs will initially do a soft launch of the Margo facewash in markets like South, East and North-East India which the brand has a strong market presence and later venture in new markets pan-India.

“There is a rise in demand for ayurvedic products in the personal care space thanks to increasing focus on it by multinationals, as well as desi companies. Naturally then, Jyothy Labs would look to play in the category by extending Margo,” Ullas Kamath, joint managing director, told Businessline.
 
“The company is looking at an Rs 100-crore turnover over the next three years just from the facewash category. We thought that there is scope for Margo to get into a big category. And with facewash becoming big, we thought of getting in there,” Kamath added.
 
Jyothy Laboratories had a strong third quarter with net profit of Rs 48 crore and revenue of Rs 441 crore. The personal care division contributed Rs 40 crore to the company’s overall revenues during the quarter with a profit of Rs 9 crore.