AC Choksi Share Brokers Private Limited - Myiris.com
AC Choksi Share Brokers Private Limited - Myiris.com
AC Choksi Share Brokers Private Limited - Myiris.com
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A C <strong>Choksi</strong><br />
<strong>Share</strong> <strong>Brokers</strong> <strong>Private</strong> <strong>Limited</strong><br />
INITIATION REPORT | BAJAJ CORP LTD. Sept 09, 2011<br />
Investment Rationale:<br />
Hair Oil Industry; growing at par with FMCG Industry Average:<br />
Hair care products contribute approximately 8% of the total FMCG market (Rs<br />
1338.76 bn) in India (Source: A C Nielsen). Hair care industry is growing at par with<br />
overall industry average of approximately 13-14%. Shampoo and hair oils, including<br />
coconut oils, continue to be the key <strong>com</strong>ponents of this segment. Hair oils category<br />
constitute more than 55% of the overall hair care industry in India. Hair oil category<br />
witnessed a volume growth of 16.7% CAGR from FY 2007 to FY 2011whereas it<br />
witnessed value growth of 20% CAGR over the same period. This growth is primarily<br />
attributed to the improvement in distribution network and supply chain efficiency.<br />
Source: A C Nielsen<br />
Hair Care Industry Size (Value) and Structure<br />
Coconut Oil<br />
(Rs.2,151 cr)<br />
Hair Oils( Rs.<br />
5,326 cr)<br />
Hair Care (Rs.<br />
10,243 cr)<br />
Perfumed Oil<br />
(Rs. 3,175 cr)<br />
Other Hair care<br />
products( Rs.<br />
4,917 cr)<br />
A C <strong>Choksi</strong> Institutional Research 6
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