A Kerala-based company recently launched a slew of products and set a target that can only be termed ambitious considering the after-effects of the COVID-19 pandemic over a wide range of industries.
Ashique Chemicals & Cosmetics, based in the northern district of Kozhikode, is eyeing sales worth Rs 1,000 crore in just two years with its foray into a new variety of personal care and hygiene products.
The company which manufacturers the famed 'Dr Wash' detergent cake has rolled out its brand-new hand wash, hand sanitizer, dish wash liquid, dish wash gel, dish wash cake, toilet cleaner, liquid detergent and floor cleaner.
The new launch is part of its production and market expansion plans which have been spurred by the astounding success of its flagship product Dr Wash.
Ashique Chemicals & Cosmetics is a part of the Rs 600-crore Team Thai which is into transportation, tourism, automobiles, FMCG and auto shows.
With the new products, which has already hit the market, the company expects to achieve a sales figure of Rs 350 crore in 2022-23. Then in another year it hopes to cross the Rs 1,000-crore mark.
Realistic goal, says MD
Calling the target rather realistic, Ashique Thahir (43), Managing Director, Ashique Chemicals & Cosmetics, said the signs he has been noticing across the markets have been quite promising.
The company decided to take the next big step riding on the confidence it has acquired from the reception of its detergent cake in supermarkets.
Dr. Wash washing cake enjoys more than 40% market share among the branded washing cakes in Kerala and nearly 10% in the other south Indian markets where it is sold, Thahir stated.
"Like other companies, we also had to cut down our production during the pandemic. We reworked (our strategies) and took some corrective steps in the aftermath of the coronavirus spread. They worked in our favour and we could see there was a scope for expansion," the MD said.
Sound rationale
Explaining the logic behind an aggressive expansion amid concerns over a likely slowdown, Thahir said, "Prices of raw materials, including palm oil, have gone up now. Automatically a lot of people are now setting themselves back. If we don't expand now, we will also have to retreat."
Now, the company's products are available in Kerala, Karnataka and Tamil Nadu and exported to the Middle East and North Africa. With the new product line and increased capacity, it is set to enter other states in India and also in East Asia and other African countries.
The company's present facilities are based in Wayanad district. The Team Thai group presently employs around 2,500 people which is expected to be increased in the coming months. "Our plans include setting up more manufacturing units in the other parts of Kerala and the Middle East and adding newer products in food, fabric care and personal care segments," Thahir said.
An ardent car fan, Thahir is also the producer of 'Car and Country', a premium automobile show exclusively for Prime Video UK, a part of Amazon network.
Earlier this year, he was in news after he fixed his Porsche Carrera 911 permanently on the wall of his office in Kozhikode.