A Kerala-based company has recently launched a slew of products and set itself a target that can only be called ambitious given the aftermath of the COVID-19 pandemic on 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 that makes the famous ‘Dr Wash’ detergent cake has rolled out its brand new hand wash, hand sanitizer, dishwashing liquid, dishwashing gel, dishwashing cake, toilet cleaner, liquid detergent and floor cleaner.
The new launch is part of its production and market expansion plans which have been boosted by the astonishing success of its flagship product Dr Wash.
Ashique Chemicals & Cosmetics is part of the Rs 600 crore Thai team that deals in transport, tourism, automotive, FMCG and auto shows.
With the new products, which have already hit the market, the company expects to achieve revenue of Rs 350 crore in 2022-23. Then, in another year, he hopes to cross the Rs 1,000 crore mark.
Realistic goal, says MD
Calling the target quite realistic, Ashique Thahir (43), managing director of Ashique Chemicals & Cosmetics, said the signs he had noticed in the markets were quite promising.
The company has decided to take another big step, building on the confidence it has gained since receiving its detergent cake in supermarkets.
Dr. Wash wash cake has more than 40% market share among branded wash cakes in Kerala and nearly 10% in other South Indian markets where it is sold, Thahir said.
“Like other companies, we also had to reduce our production during the pandemic. We reworked (our strategies) and took some corrective measures following the spread of the coronavirus. They worked in our favor and we could see that there was room for expansion,” the MD said.
Explaining the logic behind an aggressive expansion amid concerns about a likely slowdown, Thahir said: “Commodity prices, including palm oil, are up 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 expected to enter other states in India, as well as East Asia and other African countries.
The company’s current facilities are based in Wayanad district. The Team Thai group currently employs approximately 2,500 people and is expected to increase in the coming months. “Our plans include setting up more manufacturing units in the other parts of Kerala and the Middle East and adding new products in the food, fabric care and personal care segments” , Thahir said.
An avid car fan, Thahir is also the producer of ‘Car and Country’, a premium car show exclusively for Prime Video UK, which is part of the Amazon network.
Earlier this year he was in the news after fixing his Porsche Carrera 911 permanently to the wall of his office in Kozhikode.