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Faucets Industry in India


 2014 - 2019
Executive Industry Market Drivers & Industry Competitive Annexure &
TOC Industry Trends
Summary Structure Overview Inhibitors Attractiveness Environment Appendix

India Fact File

India - Snapshot
North
Population growth 1.4% p.a
Jammu West
and Land Area 3.29 mn sq km
South
Kashmir
East
Himachal Population density 324 persons per sq km
Pradesh
Punjab Form of government Democracy
Uttarakhand
Haryana Arunachal
New Delhi Pradesh Number of States 29 states & seven union territories
Jaipur Lucknow Sikkim
Rajasthan Uttar Pradesh Assam Capital New Delhi
Nagaland
Bihar Meghalaya
Patna Manipur Per capita income Nominal: USD 1,124.4 p.a
Jharkhand Tripura
Madhya West
Gujarat Mizoram Religion Six main religions
Pradesh Bengal
Ahmadabad Kolkata
Chhattisgarh Hindi (national language), English
Surat Languages (business language), 22 official
Nagpur Odisha
Maharashtra languages

Mumbai Pune Telangana Currency Rupees


• Forty-three cities in India have a population of
Hyderabad 1mn+
Bangalore Exchange rate (USD 1 USD = INR 60.03
• Cities in India are classified on the basis of cost of
to INR) (as on 30th June 2014)
Andhra living:
Goa
Pradesh • Four metros including
Mumbai, Delhi, Chennai, Kolkata Rural-urban mix 68% people reside in rural areas
Karnataka • Nine tier I (+5mn) cities including Pune,
Ahmedabad and Bangalore Households 246mn
• Twenty-two tier II cities (1mn to 5mn) including
Tamil Chennai Patna, Kochi, Rajkot, Madurai, etc
Literacy rate 74.04%
Kerala Nadu • Forty-one tier III cities (less than 1mn) including
Tier-I cities Ranchi, Mangalore, Gwalior, Roorkee, etc.
Metro cities Source: Government websites

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Executive Industry Market Drivers & Government Industry Industry Competitive Annexure &
TOC
Summary Structure Overview Inhibitors Initiatives Trends Attractiveness Environment Appendix

Preface to the Report

Who is the Reader?

 Any participant or stakeholder in the faucet industry, who would benefit from this report

 Analysts, industry experts or any person with an interest in tracking the progress of the faucet industry

Purpose of the Report

 The report gives insights on how the faucet industry is expected to grow till FY 2019. It provides intelligent insights on the
drivers and challenges for the industry and key segmentation by region, price, category, end users, etc.

 Another important aspect of the report is the profiles of the top industry players in the faucet industry in India

Scope of the report

 This report looks at the current scenario for faucet industry in India

 Plastic faucets, sanitary ware, wellness products, tiles, bathroom and kitchen appliances do not come under the purview of
this report

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Executive Industry Market Drivers & Industry Competitive Annexure &
TOC Industry Trends
Summary Structure Overview Inhibitors Attractiveness Environment Appendix

Table of contents
Executive summary Slide 9
1 Industry structure Slide 10
1.1 Faucets industry structure Slide 11
1.2 Evolution of faucets industry in India Slide 12
1.3 Industry definition Slide 13
1.4 Industry supply chain Slide 14
2 Industry overview Slide 16
2.1 Market size & growth Slide 17
2.2 Industry segmentation by product category Slide 18
Table of Contents

2.3 Industry segmentation by products Slide 19


2.4 Industry segmentation by end-users Slide 20
2.5 Industry segmentation – tier I, tier II and tier III markets Slide 21
2.5 Geographical analysis Slide 22
2.6 Price analysis Slide 23
3 Driver and inhibitors Slide 24
3.1 Snapshot of drivers & inhibitors Slide 25
3.2 Growth in real estate industry Slide 26
3.2.1 Growth in residential sector Slide 27
3.2.2 Growth in commercial sector and hospitality industry Slide 28
3.3 Rise in disposable income and consumption Slide 29
3.4 Rapidly growing urbanization trend Slide 30
3.5 Government’s initiative: Swachh Bharat Abhiyan Slide 31
3.6 Land acquisition issues Slide 32
3.7 Lack of penetration in small cities and rural India Slide 33

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Executive Industry Market Drivers & Industry Competitive Annexure &
TOC Industry Trends
Summary Structure Overview Inhibitors Attractiveness Environment Appendix

Table of contents
4 Industry trends Slide 34

4.1 Recent trends witnessed Slide 35

5 Industry analysis Slide 36

5.1 Porter’s analysis of faucets industry in India Slide 37

5.2 Industry attractiveness index Slide 38

6 Competitive environment Slide 39

6.1 Faucets industry segmentation: Organized vs. unorganized Slide 40

6.2 Market share of key players Slide 41

6.3 Manufacturing landscape Slide 42


Table of Contents

6.4 Competitor benchmarking Slide 43

7 Profiles of key players Slide 44

7.1 Profile I – Jaquar & Company Pvt. Ltd. Slide 45

7.2 Profile II – Grohe India Pvt. Ltd. Slide 47

7.3 Profile III – Ess Ess Bathroom Products Pvt. Ltd. Slide 49

7.4 Profile IV – HSIL Ltd. Slide 51

7.5 Profile V – Kohler India Corporation Pvt. Ltd. Slide 53

8 Annexure & Appendix Slide 55

8.1 Real estate industry in India Slide 56

8.2 Increase in urbanization Slide 57

8.3 Research Methodology Slide 58

8.4 Abbreviations & Bibliography Slide 59

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Executive Industry Market Drivers & Industry Competitive Annexure &
TOC Industry Trends
Summary Structure Overview Inhibitors Attractiveness Environment Appendix

List of Charts and Tables


Chart 1 Supply-chain in the Indian faucets industry Slide 14

Chart 2 Market size and growth of the faucets industry in India FY 2011-19 (INR bn) Slide 17

Chart 3 Faucets industry in India segmented by product category for FY 2014 (by value) Slide 18

Chart 4 Faucets industry in India segmented by products for FY 2014 (by value) Slide 19

Chart 5 Faucets industry in India segmented by end users in FY 2014 (by value) Slide 20

Chart 6 Faucets industry in India segmented based on consumption by type of cities in FY 2014 (by value) Slide 21
Table of Contents | List of Charts & Tables

Chart 7 Faucets industry segmentation by region (by value) Slide 22

Chart 8 Price analysis of players in the industry for ‘single-lever basin faucets’ Slide 23

Chart 9 Market size of real estate industry (USD bn) Slide 26

Chart 10 Number of middle class households (in mn) Slide 26

Chart 11 Residential housing demand estimations across top seven cities during 2010-2014 (‘000 units) Slide 27

Chart 12 Commercial office space demand estimations across top seven cities during 2010-2014 (mn sq feet) Slide 28

Chart 13 India’s hotel industry revenues (USD bn) Slide 28


Chart 14 Rise in per capita income of India (INR) Slide 29

Chart 15 Consumer breakdown by income level – India (USD mn) Slide 29

Chart 16 India’s population break-up (mn) Slide 30

Chart 17 Porter’s analysis of faucets industry in India Slide 37

Chart 18 Faucets industry segmentation by organized vs. unorganized in FY 2014 (by value) Slide 40

Chart 19 Market share of key players in the organized sector by value Slide 41

Chart 20 Faucets manufacturing locations of key players in pan India Slide 42


Chart 21 Jaquar’s net profit during the year (INR mn) Slide 46

Chart 22 Jaquar’s key manufacturing locations Slide 46

Chart 23 Grohe India’s net profit during the year (INR mn) Slide 48

Chart 24 Grohe India’s key manufacturing locations Slide 48

Chart 25 Ess Ess’ net profit during the year (INR mn) Slide 50

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Executive Industry Market Drivers & Industry Competitive Annexure &
TOC Industry Trends
Summary Structure Overview Inhibitors Attractiveness Environment Appendix

List of Charts and Tables


Chart 26 Ess Ess’ key manufacturing locations Slide 50

Chart 27 HSIL’s net profit during the year (INR mn) Slide 52

Chart 28 HSIL’s key manufacturing locations Slide 52

Chart 29 Kohler India’s net profit during the year (INR mn) Slide 54

Chart 30 Kohler India’s key manufacturing locations Slide 54

Chart 31 Real estate construction projects in FY 2015 by state Slide 56


Table of Contents | List of Charts & Tables

Chart 32 Increase in urbanization over years Slide 57

Table 1 Breakup of cities according to their population Slide 21

Table 2 Faucets manufacturing locations of key players Slide 42

Table 3 Competitive benchmarking of top players in India Slide 43

Table 4 Financial indicators of Jaquar Slide 46

Table 5 Financial indicators of Grohe India Slide 48


Table 6 Financial indicators of Ess Ess Slide 50

Table 7 Financial indicators of HSIL Slide 52

Table 8 Financial indicators of Kohler India Slide 54

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Faucets Industry
ValueNotes India Market Intelligence Dashboard

Concentration
Organised
Sector Data Availability
Structure
Industry

Macro Micro
Data Data

Completeness
Market share of top 5 firms in Output in organised Sector = 48%
organized sector = 93%

Source of Data
Quality
Trade Interviews

National Council of Applied Economic Primary


Research
Recency
Research (NCAER), IBEF, Euro NA
Monitor, World Bank, Company
Websites, Projects Today, News
Articles, National Association of Software Macro Data: Market size, growth, market
and Services Companies (NASSCOM), etc. shares of key players, customer
segments, key industry metrics
Micro Data: Segmental market size &
growth, financials of key players
Completeness: All data points is
Government Ministry of Statistics and available
Programme Implementation Quality: Accuracy of data
Bodies (MOSPI), Economic Survey of
India, Census, etc. Recency: Latest period data is available

Copyright © 2015 ValueNotes Database Pvt. Ltd. All rights reserved. www.valuenotes .biz 2015
Executive Industry Market Drivers & Industry Competitive Annexure &
TOC Industry Trends
Summary Structure Overview Inhibitors Attractiveness Environment Appendix

 The faucets industry in India is currently valued at INR 50bn in FY 2014 and has been growing at a CAGR 15% for
the last three years
Market Size And
 The industry is expected to grow at a CAGR of ~16% in the next five years, mainly due to growing real estate
Growth
industry and rapid urbanization
 ValueNotes estimates that the industry will be worth approximately INR 105bn by FY 2019

 Drivers:
Growing real estate industry including residential, commercial and hospitality sectors, increasing disposable
Drivers and income, steady rise in urbanization and recently launched government’s initiative- “Swachh Bharat Abhiyan” are
Challenges expected to be the main drivers
 Challenges:
Executive Summary

Land acquisition issues and lack of penetration in small cities & rural India, continue to serve as the major
inhibitors to the industry

 Bathroom faucets is the most dominant category contributing to ~80% of the total faucet sales
Industry
Segmentation  Residential sector is the biggest consumer of faucets, with xx% share in the overall faucets market
 Tier I and tier II cities, together account for xx% of the total faucets sales (by value) in India

 Around 48% of the faucets industry is currently organized with Jaquar & Company, Grohe India, Ess Ess, HSIL, and
Kohler India being the market leaders. The market share of organized players is expected to grow in the next five
Key Players years due to growing brand awareness among the consumers, customers shifting to high end faucets, and
upgraded production capacities by the players

The faucets industry in India has been given an Industry Attractiveness Rating of 7.2 as per the
‘ValueNotes Industry Attractiveness Rating Evaluation System’

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Picture Courtesy: Daifuku

Industry Structure
Executive Industry Market Drivers & Industry Competitive Annexure &
TOC Industry Trends
Summary Structure Overview Inhibitors Attractiveness Environment Appendix

Faucets industry in India


Bathroom and Kitchen
Solutions

Bathroom & Kitchen


Sanitary Ware Faucets Wellness Products Tiles
Appliances
Chapter 1: Faucets Industry Structure

A thin, flat and


rectangular/square
shaped slab of hard-
wearing material such A home appliance used
A product that makes for heating water or
customers relax and as ceramic, stone,
Plumbing fixtures, made preparing food.
live a healthy lifestyle. metal or baked clay,
of ceramic material or
laid in rows to cover
enameled metal, often A device/fitting used to Bathroom appliances
Wellness product walls, floors, and roofs.
found in draw and control the include water heater
bathrooms/toilets. flow of liquid, especially segment includes bath and kitchen appliances
from a pipe, by opening tubs (standard, include built- in
Sanitary Ware product and closing an orifice. whirlpool, Jacuzzi), Bat chimneys/hoods, hobs
segment majorly hroom cubicles (shower & cook-tops,
includes Wash Faucets can further be rooms, steam cabin and ovens, dish washers
Basins, Water segmented into: spa), shower and cooking range.
Closets, Cisterns, Urinals - Bathroom faucets panels, etc.
and Kitchen Sinks. - Kitchen faucets

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Executive Industry Market Drivers & Industry Competitive Annexure &
TOC Industry Trends
Summary Structure Overview Inhibitors Attractiveness Environment Appendix

Faucets have emerged as a style statement for consumers


Chapter 1: Evolution of faucets industry in India

Late 1980s 2000 – 2010 Current situation (2011 onwards)


 The faucet segment of plumbing utilities  Post 2000 witnessed the entrance of many big  Several domestic and multinational
has existed in India since ancient times overseas as well as domestic companies such companies have set up faucet manufacturing
 Over a period of time, it has evolved from as Roca, Moen India, Kohler India, HSIL Ltd. units in the country and are upgrading their
being a simple hand pump to a single lever and Ess Ess Bathroom Products Pvt. Ltd. production capacities and processes
tap  Faucets evolved in India from being perceived  The companies are focusing on innovative
 During the late 1980s, the faucets industry as a basic functional product to a fashion and technologies to manufacture ergonomically
was in a nascent and highly unorganized style statement convenient designs
stage, with barely 15% being organized  Because of the presence of foreign brands and  With the changing trends and
 Until 1990, there were as few as 20-30 their continuous innovations, the latter part of lifestyle, consumers have shifted their
faucet companies selling their products in the decade witnessed growing brand preference to high-end faucets
the Indian market awareness among consumers  The industry is doing well in metros and tier I
cities, while penetration in small cities is still
low

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Executive Industry Market Drivers & Industry Competitive Annexure &
TOC Industry Trends
Summary Structure Overview Inhibitors Attractiveness Environment Appendix

Definition of ‘faucets’ as per the scope of this report

A faucet is a plumbing fitting that is used to draw and regulate the flow of liquid, especially from a pipe. It is used by opening and closing an orifice.
Faucets can also be termed as taps.

On the basis of application, faucets can further be categorized into:


 Bathroom faucets: These are the faucets integrated with bathroom fixtures like wash basins, water closets and bath tubs. Bathroom faucets also
comprise shower and bath faucets
Chapter 1: Industry Definition

 Kitchen faucet: It is a type of faucet allied to kitchen sink which is primarily used for washing utensils and raw food

This report covers:

• Various types of bathroom and kitchen faucets made of


metals and alloys such as brass, aluminium, stainless
steel, copper, etc.

This report does not cover:


• Plastic faucets, majorly used in small tier III cities and rural
areas
• Sanitary ware, wellness products, tiles, bathroom and
kitchen appliances

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Executive Industry Market Drivers & Industry Competitive Annexure &
TOC Industry Trends
Summary Structure Overview Inhibitors Attractiveness Environment Appendix

Supply channel for faucets


The chart below depicts the typical supply chain of the faucets industry in India. The participants and their roles are described in the diagram below:

Chart 1: Supply-chain in the Indian faucets industry

Suppliers Intermediaries Consumption Zone

Institutional Sales
Chapter 1: Industry Supply Chain

Distributors
Manufacturers (Acting as Carry
& Forward
Agents)

Imports

Area Dealers

Exports

Local Retailers

Channel followed by unorganized players only

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Executive Industry Market Drivers & Industry Competitive Annexure &
TOC Industry Trends
Summary Structure Overview Inhibitors Attractiveness Environment Appendix

To avoid channel conflicts, organized players follow fixed format to supply faucets to the customers
Retail Channel

 xxx

 xxx

 xxx

 xxx
Chapter 1: Industry Supply Chain

Institutional Sales

 xxx

 xxx

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Industry Overview
Executive Industry Market Drivers & Industry
Industry Competitive Annexure &
TOC Industry Trends
Summary Structure Overview Inhibitors Attractiveness
Attractiveness Environment Appendix

Faucets industry is expected to grow at ~16% CAGR till FY 2019


Chart 2: Market size and growth of the faucets industry in India FY 2011-19 (INR bn)

CAGR xx%

CAGR xx%
xx

CAGR xx% xx
xx
xx xx
xx
Chapter 2: Market Size & Growth

xx xx xx
xx xx xx CAGR xx%
xx xx
xx xx
xx xx
xx

FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019

Optimistic Pessimistic Most Likely

Source: Trade interviews, ValueNotes analysis

Current market Usage of “Three point analysis” to arrive at realistic growth figures:
- Optimistic: Maximum growth that can be anticipated, provided all
 xxx the factors* contributing to growth occur as expected
- Pessimistic: Least growth, provided growth factors are either
delayed or not implemented in the given time frame
- Most Likely: This is the optimized growth which has high probability
Estimated growth of taking place
The estimated growth of ‘faucets industry’ is based on various factors*
 xxx including:
- xxx
- xxx
- xxx
- xxx
- xxx
- xxx

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Executive Industry Market Drivers & Industry Competitive Annexure &
TOC Industry Trends
Summary Structure Overview Inhibitors Attractiveness Environment Appendix

Bathroom faucets segment is expected to grow faster than kitchen faucets segment till FY 2019
Chart 3: Faucets industry in India segmented by product category for FY 2014
Bathroom Faucets (by value)

 xxx
Chapter 2: Industry Segmentation by Product Category

 xxx Kitchen
Faucets, 20%
 xxx

Bathroom
Faucets, 80%
Kitchen Faucets

 xxx

 xxx Source: Trade interviews, ValueNotes research

"Earlier bathroom was outside the home, then it became a


part of the home and now the bathroom has become a
happening place.”

- Rajesh Mehra | Director & Promoter, Jaquar in an


interview with The Economic Times

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Executive Industry Market Drivers & Industry Competitive Annexure &
TOC Industry Trends
Summary Structure Overview Inhibitors Attractiveness Environment Appendix

Bathing area faucets will continue to be the largest contributor to the faucets market for the next five years
Chart 4: Faucets industry in India segmented by products for FY 2014 (by value)
 xxx

 xxx
Basin Faucets,
 xxx xx%
Chapter 2: Industry Segmentation by Products

WC Faucets,
xx%
Bathing Area
Faucets,
xx%

Kitchen
Faucets,
xx%

* Bathing area faucets include bath faucets, shower faucets and


shower programme (hand-showers, shower-heads, shower jets)

* WC = Water Closets

“Bathrooms are increasingly getting digitalized where


people are keen on having more gadgets in their bath
area.”
Source: Trade interviews, ValueNotes research

- Renu Misra | Managing Director, Grohe India in an


interview with The Times of India

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Annexure & Appendix
Executive Industry Market Drivers & Industry Industry Competitive Profiles of Annexure &
TOC
Summary Structure Overview Inhibitors Trends Analysis Environment key players Appendix

In FY 2015, xxx real estate construction projects are under different stages of implementation in India
Chart 31: Real estate construction projects in FY 2015 by state

xx
Chapter 8: Real Estate Industry in India

xx
xx
xx xx xx
xx xx xx
xx xx xx xx xx xx
xx xx xx xx xx xx

* Real estate includes housing sector, commercial sector and hotels & restaurants

 Indian construction market is the fourth largest sector in the country in terms of FDI inflows
 Currently, over xx real estate construction projects , including xx hotels and restaurants , are under different stages of implementation in India.
Different implementation stages comprise nascent, planning, under execution and partially completed
 Maharashtra has the highest number of real estate projects including xx new hotels & restaurants in the state
 The Real Estate (Regulation and Development) Bill, 2013, approved by the Union Cabinet is an initiative aimed at delivering an uniform
regulatory environment to protect the consumer, help in quick verdicts of disputes and ensure systematic growth of the sector

Source: Projects Today, ValueNotes analysis

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Executive Industry Market Drivers & Industry Industry Competitive Profiles of Annexure &
TOC
Summary Structure Overview Inhibitors Trends Analysis Environment key players Appendix

India is witnessing rapid growth in urbanization


Chart 32: Increase in urbanization over years

Census 1901 Census 1951 Census 2011

11%
17%
31%
Chapter 8: Increase in Urbanization

69%

89% 83%

Urban Rural Urban Rural Urban Rural

 The extent of urbanization in India is much lower than other developing countries; but it will be amongst the fastest growing urban populations
globally between 2013 and 2020 in absolute terms
 Urbanization in the country has increased from 27.81% in 2001 census to 31.16% in 2011 census
 Two of India's metropolitan cities feature in the world's largest urban population by city. Mumbai is the most populated city in India and had
the fourth largest urban population by city in 2012 at 12.5mn people, while Delhi had the eighth largest urban population by city at 11.1mn
people
 By 2030, India's urban population is estimated to reach 631mn, an increase of 2.6% per year over the 2013-2030 period compared to the 1.1%
annual rise expected in the total population. The urban population will account for 41.8% of the total population by 2030

Source: Census data, Euro Monitor, ValueNotes analysis

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Executive Industry Market Drivers & Government Industry Industry Competitive Annexure &
TOC
Summary Structure Overview Inhibitors Initiatives Trends Attractiveness Environment Appendix

About ValueNotes

ValueNotes is a full-service market and business research firm. Since 2000, we have helped customers, in India and around the globe, make
better business decisions by providing actionable intelligence. Our customized research solutions, by way of projects and continuing
engagements, have helped serve specific business needs - market entry strategy, choice of location, partner selection, competitive
intelligence, investment appraisal, due diligence, and customer need analysis.
Over the years, ValueNotes has developed considerable domain knowledge in a variety of sectors and industries. More important, we understand
how to develop and deploy appropriate research methodologies best suited for diverse markets. We've developed proprietary research methods
to deal with unorganized, information-scarce markets; and analytical techniques to triangulate, validate and correlate incomplete or unrelated
Appendix | Research Methodology

information

Research Methodology Applied Government


Websites &
Publications
ValueNotes carries out industry studies designed around optimal use of
secondary (desk) research techniques to gain maximum intelligence with
specific insights and information. The steps carried out for “Bottled Water Trade Industry
interviews Intelligence
Industry in India” are as follows:
 Secondary research: Intensive secondary research sources
include, but are not limited to, ValueNotes
• Print and online business publications Approach
• Analyst reports
Industry Industry
• Press releases Associations
Reports/
• Trade publications Publications
Trade & News
 Primary research: Interviews with key industry players, industry Publications Releases
analysts and experts Press
Releases &
 Industry intelligence and market analysis: Triangulation method Publications
by Industry
is adopted to validate data points from the supply side, demand Players
side, industry reports and trade publications

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Executive Industry Market Drivers & Government Industry Industry Competitive Annexure &
TOC
Summary Structure Overview Inhibitors Initiatives Trends Attractiveness Environment Appendix

Abbreviations Bibliography

USD US Dollar ValueNotes conducted secondary research to obtain information on faucets industry in
INR Indian Rupee India and referred to following sources:

bn billion MOSPI

mn million Economic Survey of India

cr crore NCAER
Appendix | Abbreviations & Bibliography

FY Financial Year IBEF

CAGR Compounded Annual Growth Rate McKinsey Global Institute

sq square World Bank

p.a per annum Euro Monitor

MOSPI Ministry of Statistics and Programme Implementation NASSCOM

NCAER National Council of Applied Economic Research Census

IBEF Indian Brand Equity Foundation Projectstoday.com

NASSCOM National Association of Software and Services Companies Annual reports

NHB National Housing Bank Key players’ websites

HFCs Housing Finance Companies Business Today

WC Water Closets The Free Press Journal

FDI Foreign Direct Investment The Economic Times

MNCs Multinational Corporations The Times of India

IT Information Technology The Hindu Business Line

WELS Water Efficiency Labelling and Standards Online selling portals such as Snapdeal

WEP-I Water Efficient Products- India Cushman & Wakefield Research

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Disclaimer: This short industry report is published for general information only. Although high standards have been used in the preparation, ValueNotes is not
responsible for any loss or damage arising from use of this report. The information contained herein is from publicly available data or other sources believed to
be reliable. While we would endeavor to update the information herein on reasonable basis, ValueNotes is under no obligation to update or keep the
information current. This report is the sole property of ValueNotes and must not be copied, either in whole or in part, or distributed or redistributed to any
other person in any form.

www.valuenotes.biz www.indianotes.com www.sourcingnotes.com


Research & Consulting Indian Markets Outsourcing Intelligence
In case of any queries, mail us at research@valuenotes.co.in

About the author:


As a research analyst at ValueNotes, Mohita Gupta has worked on multiple opportunity
Other Industry Reports by ValueNotes:
assessment, market sizing and competitive intelligence projects in different verticals such
as consumer durables, mining, power, cement and FMCG. Her projects also include due
diligence and industry tracking. She has completed her MBA (Finance) from Sadhana
1. Home water purifier industry in India
Centre for Management & Leadership Development (SCMLD), Pune and Bachelor's of
Business Administration (BBA) from Banasthali University, Rajasthan. 2. Heat and eat industry in India

3. Chocolate industry in India


research@valuenotes.co.in | + 91 20 6623 1743

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