Wipro Consumer Care Crosses Rs 10,000 Crore-Revenue Mark In FY23

Wipro Consumer Care and Lighting has topped the Rs 10,000 crore revenue mark in FY23, aided by its personal care and lighting businesses.

Its flagship soap brand — Santoor — has achieved sales of over Rs 2,650 crore, retaining its No. 2 position in FY23, the company said in a statement on Tuesday. Its female toiletries brand — Enchanteur — has also crossed Rs 1,000 crore in sales. Additionally, its lighting business also crossed the Rs 1000 crore-sales mark for the first time, according to the company.

"We have come a long way since 2003, when we were Rs 300 crore to being a global FMCG company growing 33 times in the last two decades," said the chief executive officer of the company, Vineet Agrawal.

The company, which operates in FMCG and lighting products, had reported a revenue of Rs 8,634 crore for the financial year ended March 31, 2022.

In FY23, the domestic business grew 17%.

Other than India, Wipro enjoys a significant market share in several international markets, contributing 51% of its revenue.

In Malaysia, the company said it strengthened its top position in personal care with a growth of over 20% during the year. Vietnam crossed the $100-million revenue mark with double-digit growth, while other markets with double-digit growth included South Africa, Middle East and Philippines.

Wipro Consumer Care, which is a part of Wipro Enterprise, has businesses that include personal wash product, toiletries, facial care products, home care products, electrical wire devices, domestic and commercial Lighting and seating solution. Similar to the IT arm of Wipro Enterprise, the FMCG major has been active in pursuing growth through acquisitions.

Recently, Wipro Consumer acquired Nirapara brand, marking its foray into the food business. Launched in 1976, the Kerala-based Nirapara is known for its blended spices and packaged ready-to-cook products.

It's also the Wipro Consumer's 13th acquisition.

Some of its major acquisitions include Malaysia-based Unza Holdings, Yardley business in the UK, Singapore's LD Waxson Group, China-based Zhonghshan Ma Er, South African Canway Corporation and Filipino company Splash Corporation, among others.

Wipro Consumer Care Ventures started in 2019, has made 10 investments in India and Southeast Asia so far, the company said.