Buoyed by its group turnover crossing the $1 billion mark last fiscal, homegrown FMCG firm Dabur India today said it will speed up innovation for new products to keep the growth momentum.
"In a year which has been one of the most challenging for the industry in terms of slowing economy, rising input costs and wild currency fluctuations, Dabur India and its subsidiaries have surpassed the $1 billion [Rs 5,000 crore] turnover in the 2011-12 fiscal," Dabur India Chief Executive Officer Sunil Duggal said.
While the first half of the FY12 was tough with input cost pressures hurting the company, in the second half the company stepped up new product launches and a host of new consumer initiatives, he added.
"Going forward, the company is planning to speed up its innovation exercise and introduce a host of new products in the coming months, in both personal care and health care categories," Duggal said.
New launches by the company--Dabur Almond Hair Oil, Fem Professional Facial Kits and Fem Body Bleach – have received encouraging response from the market, he added.
The firm will also invest in expanding manufacturing set-up, with a new plant in Sri Lanka, besides expanding capacity at some of its existing overseas units, he said.
Shares of Dabur today closed at Rs 111.35 on the BSE, up 2.02% from its previous close.