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Issue Date:07 November 2016     Price in Rs. R 6500    Price in USD. $ 100

With a revenue of Rs 42B and net profit of Rs 6.6B in FY15, Dharampal Satyapal Limited is among the largest unlisted companies in India. It is part of Dharampal Satyapal Group, a much larger entity with revenues around USD 1.2B. The Group was founded in 1929.


DS Limited focusses on mouth fresheners, F&B, Tobacco and Confectionary segments. Its flagship product is Pan Masala (a type of mouth freshner), where its brand Rajnigandha, launched in 1983, is India’s most well known brand.


In food , DS Ltd’s brands are Catch range of salt and spices. Catch pepper and salt marked its debut in the rotatory table top dispenser category in 1987 and remains the leader in this segment even now. The spices business came in 2000, and is now over USD100m in revenue and growing at 25-30% per annum.


It also sells natural spring water in Catch name. Catch Clear Flavored Spring Water' is made by blending natural fruit flavors with sparkling spring water. 'Catch Club Soda' is another successful product from the 'Catch' family and 'Catch' Tonic Water is India's first zero calorie Tonic Water available in a PET bottle and many more. 'Catch' launched the powdered drinks Piyoz and Yomil in 2012 which offer traditional beverages with the added convenience of just mixing and enjoying the drink. Piyoz is enriched with Calcium, Iron and Vitamin C. A healthy option to fizzy drinks, it has a wide range of flavours like cool Aam Panna, Chatpata Jaljeera, Saada Bahaar Nimbu Pani and Tingling Orange.


The company entered the candy business in 2012, and has done extremely well since.

The group separately also sells tobacco versions of pan masala under the brands Baba and Tulsi.

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