From Our Special Correspondent
Daijiworld Media Network

Bengaluru, July 27: The State-owned public sector undertaking, Karnataka Soaps and Detergent Ltd, known for its ‘Mysore Sandal Soap’ brand products, has decided to will give Rs. 20,000 as “centenary gift” to each of its 542 employees as part of the factory’s centenary celebrations.

KSDL, which is one of the profit-making public enterprises, will also be launching two new products.

Announcing the decisions in Bengaluru on Wednesday, Karnataka’s Industries Minister R V Deshpande said two new brands – Mystic Agarbhatis and Mysore Sandal Mango Hand Wash – would be launched.

The centenary celebrations would be held on Saturday (July 30) in the factory premises, he said.

The factory, which manufactures 38 products, was expected to cross turnover of Rs 500 crore in 2016-17.

In 2015-16, the company recorded a turnover of Rs 476.76 crore and registered a net profit of Rs 47 crore.

The flagship brand Mysore Sandal Soap has grown by 12 per cent along with brand Mysore Sandal Gold Soap by 26 per cent overall. 

KSDL has grown by 17 per cent in value and 24 per cent in volume.

“It is a matter of pride the only government owned undertaking in the FMCG sector having survived 100 years amidst the cut-throat competition,” Deshpande said.

The State Cabinet has approved Rs. 27.15 crore for factory modernization and there are plans to install a new modern soaps plant with a capacity of 15,000 metric tonnes a year.

The company was started as Government Sandalwood Oil factory by the Maharaja of Mysore Nalwadi Krishna Raja Wodeyar and Diwan Sir M Visvesvaraya in 1916.

KSDL Chairperson Veronica Cornelio said ``we have kept a turnover target of Rs 500 crore for this year.’’

With capacity expansion and modernisation by next financial year (2017-18) we can raise Rs 100 crore extra to touch Rs 600 crore,’’ Cornelio added.