Unilever’s plans are long-term: HLL chief

At the AGM, Dadiseth told shareholders that the rural market is one area of considerable interest to the company and it plans to increase its direct distribution in rural India by 50 per cent each year and plans to tripple its services in the region inthe next five years.

Dadiseth said that the company was planning to tap the direct selling route, as the market develops, so as to enable it to protect its market share from dwindling.

The management said that the total turnover of the personal products business, after the acquisition of Lakme-Lever and the merger of Pond’s, will be Rs 1,500 crore. The combined personal products business will have a market share of 35 per cent.

Reiterating his vision of doubling the turnover every four years and the net profit every three years, he said, the company has chalked out a capital expenditure programme of Rs 100-150 crore in the next two-three years.Dadiseth, however, did not wish to comment on the insider trading case which is currently being heard by the appellate authority after Sebi gave its verdict against the company and its directors. He also did not comment on rumours of HLL planning to take over Reckitt & Coleman.

On the icecream industry, he said that thefirmplans to kick off an exercise ofintegrating its supply chain where they were relevant.