"HLL has undergone a complete transformation in the last five years, which has pushed the company to growth and reversed the trend of down trading in the FMCG industry," M S Banga, chairman, HLL said at the annual general meeting in Mumbai.
"HLL is now focussed on 35 brands covering all consumer appeal and price segments. They have been strengthened by ensuring that they offer better value and play a bigger role in consumers' lives backed by appropriate technology," Banga said.
Wherever necessary, it has reduced prices to make the brands more affordable and launched several low unit size and price packs to make them more accessible, he said.
"The company had disengaged from all non-FMCG or commodity businesses with sales of Rs 1,750 crore (Rs 17.5 bilion) as in 1999 while deriving value for these divestments," Banga said.
He said the company has made investment in product quality, pricing and marketing and the investment in product quality alone has been over Rs 400 crore (Rs 4 billion) in last three years.
HLL has been restructured as its eight-profit centre has been integrated into two divisions of Home & Personal Care and Foods, he said.
Banga added as India's per capita income is likely to double, FMCG market is expected to grow to over Rs 1,00,000 crore (Rs 1000 billion) from its current base of Rs 40,000 crore (Rs 400 billion).
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