The Cholayil group, manufacturers of ayurvedic soap Medimix is eyeing more than 67 per cent sales growth over the next two years.
M C Anand Kumar, senior vice-president for marketing of Dorcas Market Makers, the marketing arm of the group, said, "We are expecting Medimix sales to increase to Rs 235 crore from the current level of Rs 140 crore within the next two years."
Ayurvedic soap occupies around 13 per cent of the Rs 5,000 crore soap market, said Kumar.
"After a negative growth for couple of years, Indian soap market recorded a marginal 1.6 per cent growth. The ayurvedic soap segment is growing at a four to five per cent rate," he added.
The company has also launched glycerine soap in the eastern and northern states.
The national launch would be held in June this year, he noted.
Currently, South Indian states account for 62 per cent of total soap sales, the company is expecting to bring it down to 42-45 per cent.
Kumar explained, "We are coming up with products focusing on specific regions. There would also be new launches on different variants/fragrances to tap the whole market. In the process, we are expecting the share of South Indian states to come down to 42-45 per cent from the current figure of 62 per cent".
The company was also coming up with its new manufacturing facility in Uttaranchal.
"Our new facility in Uttaranchal will be operational within the next six months. The ayurvedic soap industry being labour intensive, the investment was not substantial," he pointed out.
Apart from soaps, the company would take its other products including talcum powder Cuti Cura national within the next three months, Kumar added.
The company now operates through 1,200 distributors. Apart from these products, the company was also considering expansion of its other businesses including pharmaceuticals and therapy centre, said Kumar.