GLOBAL ECONOMY
The global Oral Care Products market is valued at USD 37300 million in 2019. The market
size will reach USD 42030 million by the end of 2027, growing at a CAGR of 1.7% during
2021-2027.Oral Care Products market is segmented by Type, and by Application. Players,
stakeholders, and other participants in the global Oral Care Products market will be able
to gain the upper hand as they use the report as a powerful resource. The segmental
analysis focuses on sales, revenue and forecast by Type and by Application for the period
2016-2027.
INDIAN ECONOMY
India oral care market has shown tremendous growth in the last few years. The market
was mainly driven by change in lifestyle of Indian consumers, demand for premium products,
rising disposable incomes and awareness regarding hygiene and sanitation. Rise in
awareness of oral hygiene has created a huge demand for premium and innovative products in
metros and urban cities. Penetration level of oral care products in urban area is high as
compare to that of rural area. Low penetration level in rural area poses latent
opportunity for global as well as domestic players to grow the presence of their oral care
products in India. As a result, players are now focusing more into rural cities and
villages to increase the penetration as well as their product sales. Rural Indian
consumers have started shifting to toothpaste & toothbrushes from toothpowder. Premium
products like mouthwash have gained popularity among rich and upper middle class
consumers. Although the market is growing at a fast pace, per capita consumption of oral
care products in India is very low as compared to countries like U.S, China etc.
INDUSTRY STRUCTURE AND DEVELOPMENTS
According to "India Oral Care Market Outlook, 2022" the oral care market is
categorized into five major categories viz. toothpaste, toothbrush, toothpowder, mouthwash
and others. Toothpaste dominates the space as it is a primary product for Indians in their
daily oral hygiene care and has huge presence in urban as well as rural India. Toothpaste
market is further segmented into two product types - regular whites and gel. With regards
to the benefits, toothpaste is also segmented into Standard/ General, Herbal/ Naturals,
Sensitivity and Beauty & Whitening. Among all, demand for herbal toothpaste is
increasing in the country and currently is a hot favorite trend among consumers as well as
companies, who are trying to launch as many herbal variants as possible. Toothbrushes are
the second largest category in the oral care market. They have two product types, one is
manual and the other is electric & battery powered. Manual toothbrushes have huge
potential in Indian oral care market whereas electric toothbrush is a niche product type
with limited number of rich people experimenting with it.
Toothpowder category is at a declining stage due to changing consumer taste and
preferences. Before some years, toothpowder had huge presence in rural India but now even
they are shifting towards toothpaste. Mouthwash falls under premium category and comes as
a secondary product for oral hygiene. Consumers are bending towards mouthwash products for
better oral hygiene. Others products like tongue cleaners and dental floss are expanding
gradually in the Indian market.
OPPORTUNITIES
Oral hygiene awareness is one of the major contributors to market growth in the overall
oral care/oral hygiene market through efforts made by dentists as well as key players in
the market. These stakeholders conduct various seminars and programs & take part in
various Exhibitions to increase awareness of dental hygiene and demonstrate newly launched
and technologically advanced products. This helps players to showcase their product
portfolio, thereby raising the adoption of oral care products.
There has been a marked shift in the retailing of oral care products across the globe
in recent years. Online retailers are gradually being preferred over traditional
distributors, retailers, and pharmacies. Purchasing oral care products through e-commerce
portals offers several advantages, such as the availability of multi-brand oral care
products at relatively lower prices, ease of purchasing, and free shipping. The successful
sale of oral care products through e-commerce has prompted increasing investment towards
these channels by major market players.
THREATS
Customers are not that much aware about Products of the Company as they are innovative
and first timed launched in India. The oral care/oral hygiene market is highly
competitive, with a growing number of players operating at the regional level. The
emergence of local players in developing markets such as India, China, and Brazil further
increases the pricing pressure on global players. Local/regional players offer oral care
products at discounted prices as compared to the global players and sell their products
through e-commerce channels at low prices, creating pricing pressure on global players.
SEGMENT-WISE OR PRODUCT WISE PERFORMANCE
The oral care/oral hygiene market is broadly segmented by product categorized into
Teeth Whitening Strips, toothpaste, toothbrushes & accessories, mouthwashes/rinses,
denture products, dental accessories/ancillaries, and dental prosthesis cleaning
solutions. The growth in this market is mainly due to growing awareness about oral health
and technological innovations.
OUTLOOK
Geographically, the global oral care/oral hygiene market is segmented into North
America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. Asia
Pacific is expected to show the highest growth rate during the forecast period. The high
growth rate of this region can mainly be attributed to the increase in the number of the
geriatric population associated with growing prevalence of dental caries and other
periodontal diseases in children and adults, increasing healthcare expenditure (coupled
with the rising disposable income), rising awareness about oral healthcare, and
willingness to spend more on dental care. Moreover, increasing the focus of prominent
players in emerging Asian countries will further support the growth of the market in this
region.
RISKS & CONCERNS
Volatility in input costs and foreign exchange continues to remain a risk coupled with
general slowdown in the economy. The market is highly fragmented with the presence of
numerous small and large manufacturers who compete in terms of prices and quality. In
todays complex business environment almost every business decision requires executives
and managers to balance risk and reward. Effective risk management is therefore critical
to an organizations success. Timely and effective risk management is of prime importance
to our continued success.
INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
The Company maintains an adequate and effective Internal Control System, equivalent
with its size and complexity. It believes that these systems provide, among other things,
a reasonable assurance that transactions are executed with management authorization. It
also ensures that they are recorded in all material respects to permit preparation of
financial statements in conformity with established accounting principles, along with the
assets of the Company being adequately safeguarded against significant misuse or loss.
This is supplemented through an extensive internal audit programme and periodic review by
the management and the Audit Committee.
DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE
The Companys financial performance for the year ended 31st March, 2023 is summarized
below:
(In Rs.)
| PARTICULARS |
STANDALONE - YEAR ENDED |
|
31.03.2023 |
31.03.2022 |
| I. Net Sales/Income from Operations |
12,600,981 |
7,419,065 |
| II. Other Income |
4,898,009 |
4,842,582 |
| III. Total Revenue (I+II) |
17,498,990 |
12,261,647 |
| IV. Earnings Before Interest, Taxes, Depreciation and Amortization Expense |
1,524,056 |
(1,731,798) |
| V. Finance Cost |
271,140 |
5,798 |
| VI. Depreciation and Amortization Expense |
857,680 |
865,021 |
| VII. Profit Before Tax (IV-V-VI) |
395,236 |
(2,602,617) |
| VIII. Tax Expense: |
|
|
| Less: Current Tax Expense |
11,850 |
26,000 |
| Less: Deferred Tax |
16,840 |
(344,597) |
| Profit After Tax (VII-VIII) |
366,546 |
(2,284,020) |
MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL RELATIONS
The company believes that great people create great organizations. The Companys
relations with the employees continued to be cordial and harmonious with its employees. It
considers manpower as its assets and that people had been driving force for growth and
expansion of the Company. The Company acknowledge that its principal assets is it
employees. The Company has continued its efforts in building a diverse and inclusive
workforce.The Company will continue to create opportunity and ensure recruitment of
diverse candidates without compromising on meritocracy.Hence, it remains committed in
creating an engaging environment and a learning culture which facilitates each member to
gather knowledge, sharpen their skills and deliver superior performance.
CAUTIONARY STATEMENT
Statement in this report describing the Companys objectives projections estimates and
expectation may constitute "forward looking statement" within the meaning of
applicable laws and regulations. Forward looking statements are based on certain
assumption and expectations of future events. These Statements are subject to certain risk
and uncertainties. The Company cannot guarantee that these assumption and expectations are
accurate or will be realized. The actual results may different from those expressed or
implied since the Companys operations are affected by many external and internal factors
which are beyond the control of the management. Hence the Company assumes no
responsibility in respect of forward-looking statements that may be amended or modified in
future on the basis of subsequent developments information or events.
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