Latest news with #DSGroup
Entrepreneur
2 days ago
- Business
- Entrepreneur
M&A as a Growth Lever in 2025, As VC Funding Slows Down
In H1 2025 alone, there were 73 M&A deals, up from 54 in H1 2024. Notable transactions include Magma General Insurance's USD 516M sale to DS Group/Patanjali and HUL's USD 350M acquisition of Minimalist. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. In 2024, VC funding in India rebounded to USD 13.7 billion, up 1.4 times from 2023, with deal numbers rising to 1,270 from 880 the prior year, driven by a sharp increase in small- and mid‑ticket deals and a rebound in USD 50M+ rounds, according to data from Bain. Overall PE‑VC investments reached approximately USD 43 billion, close to 1,600 deals in 2024, growing about 9per cent year‑on‑year. Yet in Q2 2025, VC investments slowed slightly: India saw USD 3.5 billion across 355 deals, up sequentially but pointing to moderation in deal values compared to peaks earlier in the year. Moreover, April 2025 saw startup funding sink to just USD 899 million, a 14‑month low and a 36per cent slide from March. Despite these bumps, M&A activity is gaining traction. In H1 2025 alone, there were 73 M&A deals, up from 54 in H1 2024. Notable transactions include Magma General Insurance's USD 516M sale to DS Group/Patanjali and HUL's USD 350M acquisition of Minimalist. "There are M&As, and then there are M&As. Unilever's potential acquisition of Minimalist for USD 350 million is a shot in the arm for D2C startups in India… signals that large-value M&As are becoming possible, providing a path for investors to exit," said Karthik B. Reddy, Partner at Blume Venture, in a company social blog. Other notable deals in 2025 include Everstone Capital's acquisition of the digital experiences platform Wingify at USD 200 million, and Singapore-based Fullerton Financial Holdings acquired LendingKart at USD 91 million. InCred's acquisition of Stocko at USD 35 million. Hatsun Agro Product, a dairy major, acquired Milk Mantra at USD 27 million. Private equity exits are increasingly happening through M&A: M&A accounted for about 1 in 3 PE exits, as open-market exits declined amid greater volatility, suggesting that as VC fundraising becomes more selective and public markets fluctuate, consolidation via M&A is playing a bigger role in liquidity and growth. Manish Kejriwal of Kedaara Capital anticipated a buyer's market in 2025, citing a slowdown in IPOs boosting PE/VC focus on direct acquisitions, according to a report by Reuters. Late-stage VC deal volume and values have cooled, seed and early stages declined significantly, down 44per cent and 27per cent in H1 2025, respectively, even as India ranked third in tech startup funding globally. Public market volatility and fewer mega‑rounds curb investor appetite for high-risk funding. M&A activity, especially PE‑backed buyouts and corporate acquisitions, is filling the funding and exit vacuum, helping startups find capital and providing exits for PE/VC firms in the absence of IPO windows. For sectors like femtech, consolidation is already visible: Proactive For Her being acquired by IVF Access, backed by a common investor, illustrating category-level integration underway.
Business Standard
07-07-2025
- Business
- Business Standard
DS Group's Pulse Candy Becomes A INR 750 Crore Consumer Brand
NewsVoir New Delhi [India], July 7: The Dharampal Satyapal Group (DS Group), a leading FMCG conglomerate and multi-business corporation, has announced a significant milestone for one of its popular brands, Pulse. Pulse candy recorded over INR 750 crore at consumer price in the FY 2024-25 translating into 750 crore Pulse candies being sold in one year making it India's largest distributed hard boiled candy. This achievement establishes Pulse's strong market leadership in the hard-boiled candy segment for the last 9 years and its sustained appeal to consumers. Over the past three fiscal years, Pulse has registered an impressive Compound Annual Growth Rate (CAGR) of 15% against a CAGR of 9 % in the hard boiled candy segment industry. This consistent growth in revenue highlights the brand's strong pull across both urban and rural markets, especially when the broader market dynamics have not been as buoyant. According to market data, Pulse candy currently holds a 19% market share in India's hard-boiled candy segment and has been growing consistently. This significant share, achieved in a highly competitive landscape, reflects the brand's strong consumer pull and high repeat purchase rates. In the initial years following its launch, Pulse candy prioritized the establishment of robust distribution thrust, focusing on both expansion and deeper market penetration. Today, the distribution system has evolved significantly, becoming far more robust and efficient. This enhanced system optimizes inventory flow, expands customer touchpoints, and improves market responsiveness. This results in a mature and well-managed supply chain. "DS Group's vision for Pulse, a leading Indian ethnic confectionery brand in India, is to evolve it into a multi-format, multi-occasion offering. We plan to achieve this by strategically moving into adjacent product categories, exploring innovative new formats, and capitalizing on the rich tapestry of regional flavors. Our consistent focus on brand building, enhanced consumer engagement, and achieving deeper market penetration will help us maintain our leadership position. We're aggressively pursuing both domestic and international markets for expansion. On the domestic front, we're leveraging our robust distribution network that has a reach of over 35 lakh outlets across India," said Mr Rajiv Kumar, Vice Chairman, DS Group. "Pulse, with its delightful fusion of fruity and surprisingly tangy flavors, particularly the familiar raw mango with a zesty core, offered an unparalleled sensory experience to the consumer. This distinctly appealed to India's preference for tangy tastes which was a significant departure from the Western-format candies prevalent at the time. Pulse candy stands as a testament to the evolving Indian consumer who is more value-conscious today and DS Group truly leveraged this understanding by disrupting the market with its pricing strategy. At a time when 86% of the hard boiled candy market was at the 50-paise price point, Pulse boldly launched at INR 1. This wasn't just a higher price; it was a perceived higher value that resonated deeply with our palates and our pockets," Mr Kumar added. "Pulse revolutionized the confectionery market by challenging the notion that candies were solely for children. It strategically tapped into an overlooked demographic, the adults, thereby significantly broadening the consumer base for impulse confectionery. Why should kids have all the fun? That was the premise. We leveraged our keen understanding of local palates and unmet consumer needs, allowing Pulse to redefine the segment and establish itself as a trendsetting brand with remarkable consumer loyalty. Even our packaging and design for Pulse was clutter breaking," he said. DS Group revolutionized the Indian confectionery market in 2015 with Pulse. Leveraging its expertise in flavors and fragrances and deep understanding of Indian ethnic tastes, the organization reimagined the hard-boiled candy into a vibrant sensory experience with a surprising tangy core. Pulse was born out of a sharp consumer insight. Mango once captured 50% of the hard-boiled candy market, with raw mango accounting for 26% of this share, making it the dominant flavor profile within that segment. Leveraging the nostalgic element of the raw mango, DS Group transformed it into an innovative product. Pulse's success stemmed from its raw mango flavor profile resonating with Indian palates and the signature tangy core delivering a layered sensation. Targeting all age groups, Pulse bridged traditional tastes with the contemporary format - it brought Indianness into a Western format, appealing to everyone. Driven initially by strong word-of-mouth and a loyal base, its differentiated positioning with "Pran Jaaye Par Pulse Na Jaaye" deeply resonated. Flavour extensions like Guava, Orange, Pineapple, and Litchi, along with format innovations like 'Shots' in the original Kachcha Aam flavour, have helped keep the brand fresh and relevant in India's impulse confectionery segment. The Pulse brand's trajectory from disruptive entrant to industry leader is also an IIM Ahmedabad marketing excellence case study, complementing its sustained benchmark-setting in product innovation and marketing proficiency. The IIMA case study offers a deep dive into the innovative marketing strategies and strategic decisions behind Pulse Candy's remarkable success. It comprehensively explores how the DS Group identified a market need, developed a unique product, and overcame challenges to achieve its phenomenal rise to prominence. Pulse candy pioneered India's hard-boiled sector and its unconventional marketing also gained recognition, notably the 'Pulse of the Sky' campaign, which entered the Limca Book of Records for simultaneously flying 1,150 kites during Uttarayan 2023 making it the only hard boiled candy to enter the Limca Book of Records. Pulse cultivated enduring brand engagement through initiatives like the award-winning 'Pulse Ka Pandal,' Pulse Ganesh Mahotsav and received widespread industry acclaim for various campaigns securing accolades across platforms like the Abbys South Asia and Kyoorius Creative Awards. In fact, Pulse Candy's initial success was significantly driven by strong word-of-mouth, organic posts by celebrities and influencers, several user generated content from a loyal consumer base and social media promotion. Pulse expanded its product line by adding 'Pulse Golmol - Imli Flavour,' a treat that takes one on a nostalgic journey. Inspired by the familiar tamarind (imli) flavour that has delighted generations again, Pulse Golmol Imli is a tangy soft chew. Made from high quality ingredient, 'Pulse Golmol Imli Goli' is infused with natural tamarind. It offers a distinctive combination of tangy and sweet flavours, delivering an irresistible burst of fun filled tanginess. DS Group's culture of innovation and commitment to quality is evident across all segments of the confectionery business of DS Group. Besides Pulse candy, DS Group has also crafted compelling brand narratives and distinct consumer propositions for its key brands like Pass Pass, Rajnigandha Silver Pearls, Chingles, Oval, Pinata, Cherio, Pulse Golmol and LuvIt. In the competitive Indian Ethnic Confectionery segment, DS Group stands out with its diverse offerings. Pass Pass offers a vibrant mix of flavours crafted for those who enjoy layered taste experiences, while Rajnigandha Silver Pearls continues to lead the market with its iconic, single-ingredient purity. With continuous innovation, DS Group has successfully transformed the Indian Ethnic Confectionery category into a branded and organized market, providing consumers with unique options to suit their preferences.
Fashion Value Chain
07-07-2025
- Business
- Fashion Value Chain
DS Group's Pulse Candy Becomes A INR 750 Crore Consumer Brand
The Dharampal Satyapal Group (DS Group), a leading FMCG conglomerate and multi-business corporation, has announced a significant milestone for one of its popular brands, Pulse. Pulse candy recorded over INR 750 crore at consumer price in the FY 2024-25 translating into 750 crore Pulse candies being sold in one year making it India's largest distributed hard boiled candy. This achievement establishes Pulses strong market leadership in the hard-boiled candy segment for the last 9 years and its sustained appeal to consumers. Mr Rajiv Kumar, Vice Chairman, DS Group Over the past three fiscal years, Pulse has registered an impressive Compound Annual Growth Rate (CAGR) of 15% against a CAGR of 9 % in the hard boiled candy segment industry. This consistent growth in revenue highlights the brands strong pull across both urban and rural markets, especially when the broader market dynamics have not been as buoyant. According to market data, Pulse candy currently holds a 19% market share in India's hard-boiled candy segment and has been growing consistently. This significant share, achieved in a highly competitive landscape, reflects the brands strong consumer pull and high repeat purchase rates. In the initial years following its launch, Pulse candy prioritized the establishment of robust distribution thrust, focusing on both expansion and deeper market penetration. Today, the distribution system has evolved significantly, becoming far more robust and efficient. This enhanced system optimizes inventory flow, expands customer touchpoints, and improves market responsiveness. This results in a mature and well-managed supply chain. 'DS Group's vision for Pulse, a leading Indian ethnic confectionery brand in India, is to evolve it into a multi-format, multi-occasion offering. We plan to achieve this by strategically moving into adjacent product categories, exploring innovative new formats, and capitalizing on the rich tapestry of regional flavors. Our consistent focus on brand building, enhanced consumer engagement, and achieving deeper market penetration will help us maintain our leadership position. Were aggressively pursuing both domestic and international markets for expansion. On the domestic front, were leveraging our robust distribution network that has a reach of over 35 lakh outlets across India,' said Mr Rajiv Kumar, Vice Chairman, DS Group. 'Pulse, with its delightful fusion of fruity and surprisingly tangy flavors, particularly the familiar raw mango with a zesty core, offered an unparalleled sensory experience to the consumer. This distinctly appealed to Indias preference for tangy tastes which was a significant departure from the Western-format candies prevalent at the time. Pulse candy stands as a testament to the evolving Indian consumer who is more value-conscious today and DS Group truly leveraged this understanding by disrupting the market with its pricing strategy. At a time when 86% of the hard boiled candy market was at the 50-paise price point, Pulse boldly launched at INR 1. This wasnt just a higher price; it was a perceived higher value that resonated deeply with our palates and our pockets,' Mr Kumar added. 'Pulse revolutionized the confectionery market by challenging the notion that candies were solely for children. It strategically tapped into an overlooked demographic, the adults, thereby significantly broadening the consumer base for impulse confectionery. Why should kids have all the fun That was the premise. We leveraged our keen understanding of local palates and unmet consumer needs, allowing Pulse to redefine the segment and establish itself as a trendsetting brand with remarkable consumer loyalty. Even our packaging and design for Pulse was clutter breaking,' he said. DS Group revolutionized the Indian confectionery market in 2015 with Pulse. Leveraging its expertise in flavors and fragrances and deep understanding of Indian ethnic tastes, the organization reimagined the hard-boiled candy into a vibrant sensory experience with a surprising tangy core. Pulse was born out of a sharp consumer insight. Mango once captured 50% of the hard-boiled candy market, with raw mango accounting for 26% of this share, making it the dominant flavor profile within that segment. Leveraging the nostalgic element of the raw mango, DS Group transformed it into an innovative product. Pulses success stemmed from its raw mango flavor profile resonating with Indian palates and the signature tangy core delivering a layered sensation. Targeting all age groups, Pulse bridged traditional tastes with the contemporary format – it brought Indianness into a Western format, appealing to everyone. Driven initially by strong word-of-mouth and a loyal base, its differentiated positioning with 'Pran Jaaye Par Pulse Na Jaaye' deeply resonated. Flavour extensions like Guava, Orange, Pineapple, and Litchi, along with format innovations like Shots in the original Kachcha Aam flavour, have helped keep the brand fresh and relevant in Indias impulse confectionery segment. The Pulse brands trajectory from disruptive entrant to industry leader is also an IIM Ahmedabad marketing excellence case study, complementing its sustained benchmark-setting in product innovation and marketing proficiency. The IIMA case study offers a deep dive into the innovative marketing strategies and strategic decisions behind Pulse Candys remarkable success. It comprehensively explores how the DS Group identified a market need, developed a unique product, and overcame challenges to achieve its phenomenal rise to prominence. Pulse candy pioneered Indias hard-boiled sector and its unconventional marketing also gained recognition, notably the Pulse of the Sky campaign, which entered the Limca Book of Records for simultaneously flying 1,150 kites during Uttarayan 2023 making it the only hard boiled candy to enter the Limca Book of Records. Pulse cultivated enduring brand engagement through initiatives like the award-winning Pulse Ka Pandal, Pulse Ganesh Mahotsav and received widespread industry acclaim for various campaigns securing accolades across platforms like the Abbys South Asia and Kyoorius Creative Awards. In fact, Pulse Candy's initial success was significantly driven by strong word-of-mouth, organic posts by celebrities and influencers, several user generated content from a loyal consumer base and social media promotion. Pulse expanded its product line by adding Pulse Golmol – Imli Flavour,' a treat that takes one on a nostalgic journey. Inspired by the familiar tamarind (imli) flavour that has delighted generations again, Pulse Golmol Imli is a tangy soft chew. Made from high quality ingredient, 'Pulse Golmol Imli Goli' is infused with natural tamarind. It offers a distinctive combination of tangy and sweet flavours, delivering an irresistible burst of fun filled tanginess. DS Groups culture of innovation and commitment to quality is evident across all segments of the confectionery business of DS Group. Besides Pulse candy, DS Group has also crafted compelling brand narratives and distinct consumer propositions for its key brands like Pass Pass, Rajnigandha Silver Pearls, Chingles, Oval, Piata, Cherio, Pulse Golmol and LuvIt. In the competitive Indian Ethnic Confectionery segment, DS Group stands out with its diverse offerings. Pass Pass offers a vibrant mix of flavours crafted for those who enjoy layered taste experiences, while Rajnigandha Silver Pearls continues to lead the market with its iconic, single-ingredient purity. With continuous innovation, DS Group has successfully transformed the Indian Ethnic Confectionery category into a branded and organized market, providing consumers with unique options to suit their preferences. For more details please contact – dsgroupprteam@
&w=3840&q=100)
Business Standard
26-06-2025
- Business
- Business Standard
DS Group's Pulse candy clocks ₹750 cr, eyes ₹1,000 cr in next two yrs
Pulse candy, launched in 2015, clocked a revenue of ₹750 crore in FY25, supported by a strong pan-India distribution network. The company now aims to grow this figure to ₹1,000 crore within two years, top executives said. The Dharampal Satyapal (DS) Group, which sells the brand through 3.5 million distributors, plans to expand Pulse into new consumer categories, including products for children to increase penetration among the under-18 demographic, and sugar-free options targeting health-conscious consumers. 'Pulse challenged the notion that candies were solely for children and strategically tapped into an overlooked demographic — adults. According to market data, Pulse currently holds a 19 per cent share of India's hard-boiled candy segment and has been growing consistently,' said Rajiv Kumar, vice-chairman, DS Group told Business Standard. The DS Group claims to hold the largest share of the ₹4,000-crore hard-boiled candy market, competing with Perfetti Van Melle India's Alpenliebe, Parle's Mango Bite, and ITC's Candyman, among others. In 2024, the company's confectionery category — of which Pulse candy is the largest contributor — crossed the ₹1,000-crore revenue milestone. It now aims to achieve a sales turnover of ₹5,000 crore by 2029, the year in which the company will mark 100 years of operations. The company is now looking to increase brand presence among children. 'We want to evolve the brand into a multi-format offering and cater to younger consumers, while also reaching health-conscious consumers with sugar-free options,' Kumar added. Pulse has recorded a compound annual growth rate (CAGR) of 15 per cent, outpacing the 9 per cent CAGR of the overall hard-boiled candy segment. On the back of this growth, the company intends to scale Pulse to a ₹1,000-crore brand within two years, Kumar said. 'This consistent growth in revenue highlights the brand's strong pull across both urban and rural markets, especially when the broader market dynamics have not been as buoyant,' he added. The Pulse candy portfolio currently consists of 18 SKUs, including the popular imli-flavoured Golmol candies. The homegrown conglomerate surpassed ₹10,000 crore in revenue in FY25, entering the list of the top 15 FMCG companies in India. This growth was primarily driven by its food and beverages segment, which contributes 42 per cent to total revenue. The group is targeting a revenue of ₹20,000 crore by 2029.
Mint
26-06-2025
- Business
- Mint
Finger on the Pulse: How a word-of-mouth candy brand made a ₹750-crore dent in the market
New Delhi: A decade-old hard-boiled candy brand has crossed ₹750 crore in annual revenue, making it the best-selling candy brand in India, its parent company said on Thursday. Pulse, a tangy candy, was launched in 2015 by Noida-based Dharampal Satyapal Group (DS Group). Demand for the ₹1 sweet spread like wildfire in the early days as word-of-mouth kicked in. In FY25, 7.5 billion of the candies were sold, bringing in ₹750 crore of revenue, DS Group said. Pulse currently holds a 19% share of India's ₹4,000-crore hard-boiled candy market, according to DS Group. It competes with the likes of Perfetti Van Melle's Alpenliebe and ITC's Candyman brands of confectionery, apart from Parle Products' candy brands such as Melody, and those sold by Mondelez. 'Over the past three fiscal years, Pulse has registered an impressive compound annual growth rate (CAGR) of 15% against a CAGR of 9% in the hard-boiled candy segment. This consistent growth in revenue highlights the brand's strong pull across both urban and rural markets, especially when the broader market dynamics have not been as buoyant," the company said. India's overall confectionery market was worth worth ₹14,800-crore as of May, according to data from NIQ. The category posted 8% value growth in FY25, signalling continued resilience and consumer demand, NIQ said. "This growth has been predominantly driven by increased consumption, with medium and large manufacturers playing a significant role. Hard boiled candies (HBC) and toffees remains the dominant segment with a double-digit growth," said Roosevelt Dsouza, head of customer success, India, NielsenIQ. Going viral Pulse is sold at 35 lakh outlets across India. The candy, initially launched in raw mango flavour, appeals to people across age groups. Its taste is suited to Indian palates, and it's one of many similar products that use Indian flavours such as jeera, tamarind, local spices, and mango. Over the years, it has been launched in more flavours as guava, orange, pineapple and litchi, and new formats such as 'shots' in the original raw-mango flavour. In the initial years after its launch, Pulse candy prioritised a robust distribution thrust, focusing on both expansion and deeper market penetration. 'Advertising has played a very little role for the brand. We are only doing activities that connect with our consumers. The typical role of marketing is not required," Rajiv Kumar, vice chairman, DS Group, said in an interview with Mint. The DS Group also sells brands such as Catch spices and Chingles candy, apart from Pass Pass and Rajnigandh mouth fresheners. Two years ago it acquired the LuvIt brand of chocolates and confectionery. The company aims to achieve ₹5,000 crore in revenue for its confectionery segment by 2029. It crossed ₹1,000 crore in FY25, Kumar said. What's next for Pulse? The company will continue to expand the Pulse brand to other categories and formats, Kumar said. It recently launched a sugar-free variant and a tamarind flavour under the brand. It already sells formats such as jelly and soft chews. The company briefly launched tangy beverages under the Pulse brand but rolled it back, citing a lack of product-market fit. 'It is among the most distributed brands in India. We continue to grow, as India has 1.5 crore outlets, giving us a large headroom. It is a category based on distribution. We did not advertise but promoted the product at retail stores. Word of mouth has given us mileage," he said. The brand is also distributed in select overseas markets. Citing high raw-material prices that make it hard for candy-makers to sustain the ₹1 price, Jain said the company was working towards upgrading consumers to ₹5. 'It's a price-up strategy—we are trying migrate customer from ₹1 to ₹5 and Rs10 multi-packs. ₹1 still remains a dominant part of the sale of the brand," he said.
