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Issue Date:16 June 2017     Price in Rs. R 6500    Price in USD. $ 100

Pune headquartered Desai Brothers Limited is a leading tobacco products company which has also added a range of other businesses now to diversify away from tobacco. Among its other businesses are food processing, specialty chemicals, hospitals, logistics, finance and hotels.


As a limited company, it was incorporated on 23 October 1973. However, as a business entity, it traces lineage to 1901, when Haribhai V. Desai started making ‘Desai’ bidis – an indigenous form of cigarette. The company claims to employs over 125,000 people, most presumable in the tabocco business, where Bidi type of products have a strongly manual manufacturing process.


The Food business took off in 2001. The company acquired 'Mother's Recipe' brand soon after. This is a range of pickles and condiments. Mothers Recipe is now over Rs 2.5B (Rs 250 crore) in turnover, and is the leading pickle brand in India. DBL acquired Elmac Agro Manufacturing Pvt Ltd. (EAMPL) & the ELMAC brand (for India) in 2015 for Rs 30 crore. ELMAC is a well established brand in West Bengal and has become a household name for its specialty mustard sauce, lemon juice, and jams.


For the year ended Mar’16, the company reported revenue of INR 10.95B (~USD 175m) and net profit of INR 1.3B (USD20m). In FY16 food business accounted for around 20% of turnover, while most the rest comes from tobacco business. Share of the food business is rising; it was only 12% in FY13.


It is a closely held, family owned public limited company, with 8 directors: Nitin R Desai, Sanjay J Desai, Suryakant D Desai, Bimal N Desai, Mukesh M Patel, KV Mysore, S Padmanabhan, KSNK Iyengar and Usha Sunderarajan.

  1. Company Background
  2. Business Highlights
  3. Financial Performance
  4. Financial Details


  1. Board of Directors
  2. Financial Summary
  3. Profit & Loss Account
  4. Balance Sheet
  5. Ratios


  • Desai Brothers