1. OVERVIEW
1.1 History of Detergents in India
1.2 Segmentation (Price) of the Industry
2. DEMAND SUPPLY SCENARIO
2.1 Demand
2.2 Supply
3. OPPORTUNITIES & CHALLENGES
3.1 Opportunities
3.1.1 Rising washing machine penetration
3.1.2 Rising Disposable Incomes & Middle Class
3.1.3 Low Per Capita Detergent Consumption
3.1.4 Growing Indian Population
3.2 Challenges
3.2.1 Environmental Hazards
3.2.2 Fluctuating Raw Material Prices
4. KEY PLAYER INFORMATION
4.1 Key Player Profiles
4.1.1 Hindustan Unilever Ltd
4.1.2 Nirma Ltd
4.1.3 RSPL
4.2 Herfindahl–Hirschman Index (HHI)- Market Share Index
4.3 HUL vs. Nirma Ltd- A Comparison
5. PEER GROUP FINANCIALS
5.1 Contact Information
5.1.1 Registered Office Address
5.1.2 Director’s Name
5.2 Key Financials
5.2.1 Plant Locations
5.2.2 Product Capacity & Sales
5.2.3 Raw Material Consumption
5.3 Financial Comparison
5.3.1 Assets
5.3.2 Liabilities
5.3.3 Growth in Assets & Liabilities
5.3.4 Structure of Assets & Liabilities
5.3.5 Income & Expenditure
5.3.6 Growth in Income & Expenditure
5.3.7 Cash Flow
5.3.8 Liquidity Ratios
5.3.9 Profitability Ratios
5.3.10 Return Ratios
5.3.11 Working Capital & Turnover Ratios
6. INDUSTRY SIZE & OUTLOOK


LIST OF FIGURES & TABLES

Figure 1 Detergent Sector in India- Classification
Figure 2 Detergent Sector in India- Consumption by Region
Figure 3 Nirma & HUL- Detergent Sales Volume (2009-11, In Million Tonnes)
Figure 4 Hipolin Ltd- Detergent Sales Volume (2009-13, In Tonnes)
Figure 5 RSPL Ltd- Detergent Sales Volume (2008-11, In Million Bags)
Figure 6 Nirma & HUL- Detergent Production Volume (2009-11, In '000 Tonnes)
Figure 7 Hipolin Ltd- Detergent Production Volume (2009-13, In '000 Tonnes)
Figure 8 Washing Machine Sales in India (2008-17, In Million Units)
Figure 9 Washing Machine Penetration in India
Figure 10 Indian Middle Class Population (Current-2026)
Figure 11 India's Annual Per Capita Income (2008-13, In INR)
Figure 12 Per Capita Consumption of Detergent in Selected Countries (In INR)
Figure 13 Population of India (2008-17, In Millions)
Figure 14 HUL- Shareholding Pattern (Dec 2013)
Figure 15 Nirma Ltd- Shareholding Pattern
Figure 16 Market Share of Key Players
Figure 17 HUL & Nirma Ltd- Detergent Brands
Figure 18 Nirma Ltd- Soaps, Surfactants & Detergents Segment Sales (2009-13, In INR Millions)
Figure 19 HUL- Soaps, Surfactants & Detergents Segment Sales (2009-13, In INR Millions)
Figure 20 Nirma Ltd- Soaps, Surfactants & Detergents Segment Sales Contribution Trend (2009-13)
Figure 21 HUL- Soaps, Surfactants & Detergents Segment Sales Contribution Trend (2009-13)
Figure 22 Nirma Ltd- Soaps, Surfactants & Detergent Segment Performance (2009-13, In INR Million)
Figure 23 HUL- Soaps, Surfactants & Detergent Segment Performance (2009-13, In INR Million)
Figure 24 Nirma Ltd- Soaps, Surfactants & Detergents Segment Assets & Liabilities (2009-13, In INR Millions)
Figure 25 Nirma Ltd- Soaps, Surfactants & Detergent Segment Capital Expenditure Trend (2009-13, In INR Millions)
Figure 26 HUL- Soaps, Surfactants & Detergent Segment Capital Expenditure Trend (2009-13, In INR Millions)
Figure 27 Indian Detergent Sector- Market Size (2003-17, In INR Billions)

Table 1 Upcoming Capex Projects in the Sector
Table 2 HUL- Plant Locations (March 2013)
Table 3 HUL- Consolidated Executive Summary (2011-13)
Table 4 Nirma Ltd- Plant Locations (March 2013)
Table 5 Nirma Ltd- Consolidated Financial Summary (2011-13)
Table 6 HUL & Nirma Ltd- General Information
Table 7 HUL & Nirma Ltd- Soaps, Surfactants & Detergents Segment Sales Comparison (2009-13, In INR Million)
Table 8 HUL & Nirma Ltd- Soaps, Surfactants & Detergents Segment Performance (2009-13, In INR Millions)
Table 9 HUL & Nirma Ltd- Soaps, Surfactants & Detergents Segment Capital Expenditure (2009-13, In INR Millions)
Table 10 HUL & Nirma Ltd- Capital Expenditure Projects

EXECUTIVE SUMMARY

The detergent market is a mature growth segment in the Indian FMCG sector and has been growing in early double digits since the last decade. The industry is characterized by high MNC presence and several unorganized small players operating in the segment. MNC’s like Unilever and Procter & Gamble seem to dominate the Indian detergent terrain followed by some noteworthy Indian companies like Rohit Surfactants Pvt Ltd and Nirma Ltd which have been able to make their mark in the segment.

Opportunities in the Sector

·         Low Per Capita Consumption of Detergents

·         Rising Washing Machine Penetration

·         Rising Disposable Incomes & Middle Class Population

·         Escalation Indian Population

The detergent sector in India is all set for another round of stable growth period. Growing Indian population, rising disposable incomes, low per capita consumption of detergent as well as rising washing machine penetration in the nation will provide ample opportunity for the detergent growth in the sector. Growing awareness about cleanliness among people will be another feather in the hat.

The detergent sector in the nation has grown from INR 57 billion in 2003 to INR 130 billion in 2011, registering a growth of ~11% during the period. We estimate the industry to reach levels of INR 241 billion by 2017.

1.   OVERVIEW

The detergent market is a mature growth segment in the Indian FMCG sector and has been growing in early double digits since the last decade. The industry is characterized by high MNC presence and several unorganized small players operating in the segment. MNC’s like Unilever and Procter & Gamble seem to dominate the Indian detergent terrain followed by some noteworthy Indian companies like Rohit Surfactants Pvt Ltd and Nirma Ltd which have been able to make their mark in the segment.

Indian detergent sector can be divided into two broad categories- Synthetic detergents and oil based laundry soaps. The chart below illustrates the classification of the same.

Figure 1 Detergent Sector in India- Classification

Source: NPCS Research

Earlier the industry was dominated by oil based laundry soaps but gradually synthetic detergent made inroads into the industry. Over the time, synthetic detergent category has seen tremendous growth and today it is the most popular category of detergents.

Synthetic detergents gained popularity on the back of better cleaning performance than oil based soaps.

The Indian market for detergents is fairly mature with high penetration levels. The chart below demonstrates the region-wise consumption break up of detergents in India.

Figure 2 Detergent Sector in India- Consumption by Region

Source: CIER

1.1     History of Detergents in India

1.2     Segmentation (Price) of the Industry