Mumbai: Nirma Ltd has posted a net profit of Rs 283.80 million for the quarter ended 31 March 2002 as compared to Rs 482.70 million for the corresponding period last fiscal. The total income has decreased from Rs 4,967.50 million in MQ 2001 to Rs 4,550.80 million in MQ 2002.
The company has posted a net profit of Rs 1,847.10 million in FY02 as compared to Rs 2,497.10 million in FY01.The total income has decreased from Rs 20,643.70 million in FY01 to Rs 19,485.90 million in FY02.
The board of directors has recommended, subject to the approval of its shareholders at the ensuing annual general meeting, the payment of a dividend of 35 per cent for the year 2001-02. Nirma has also appointed two directors as additional directors on the board of directors of the company with effect from 6 June 2002.
Nirma claims 38 per cent of the detergent market in 2000-01, which will put it well ahead of the market share of the Wheel brand. Apart from Wheel Green, Wheel Blue, a premium version of the Wheel brand, has seen its market share rising from 2.3 per cent in January 2001 to 2.8 per cent in December 2001.
Nirma officials claim they had sold 8.78 lakh tonnes out of a total detergent market of 23 lakh tonnes in fiscal 2000-01. This would give Nirma a market share of 38 per cent in the financial year 2000-01. The company expects to maintain the same market share during the current fiscal.
The two brands are again on a neck-and-neck race when the market share is measured in terms of value. In January 2001, Nirma Yellow had a value market share of 11.5 per cent, which had declined to 10.6 per cent in December. Wheel Green's market share in both January and December was identical at 10.8 per cent.
Its market share, post re-launch, has declined from 11.1 per cent in January-August 2001 to 10.9 per cent in September-December 2001. But Nirma's market share in the September-December period, in terms of value, was lower at 10.7 per cent, according to ORG data.
Among other brands, Ghari, a brand popular in North India, has gained a considerable market share both in terms of volume and value. In terms of volume, its market share has risen from 6.1 per cent in January 2001 to 6.8 per cent in December, while its value market share has increased from 5.6 per cent to 6.7 per cent.
In calendar 2001, the total Indian detergent market was around 24.5 lakh tonnes in volume terms. The market is dominated by mass market detergents like Nirma Yellow and Wheel Green, plus numerous unbranded detergents, all of which come to approximately 21.5 lakh tonnes.
The premium segment, where HLL's Surf fights it out with Procter and Gamble's Ariel, comprises less than 3 lakh tonnes.