The Dharampal Satyapal (DS) Group, one of India’s oldest diversified business conglomerates, has announced that its annual revenue for FY24 has crossed the ₹10,000 crore mark. Known for iconic brands like Rajnigandha and Catch, this milestone underscores the group’s successful transition from a legacy player to a modern FMCG powerhouse with growing stakes in the food and hospitality sectors.
A significant driver of this growth has been the performance of Catch Spices, which has officially entered the ₹1,000 crore club in annual sales, marking a major inflection point in India’s competitive packaged food industry. With the FMCG division now a strategic focus, DS Group is increasingly seen as a serious player beyond its traditional product lines.
From Legacy to Leadership
Catch Salt and Spices has reported a 24% compound annual growth rate (CAGR) over the last two years. The brand has expanded its reach to over seven lakh retail touchpoints across India, supported by a network of 1,500 distributors. With a focus on Tier II and III cities, the company has tailored its marketing and distribution strategy to cater to evolving regional demand, while continuing to maintain a strong presence in urban centers.
This performance is timely for India’s restaurant and foodservice sector, where the shift towards consistent, branded ingredients is gaining momentum. As more commercial kitchens prioritize hygiene and consistency, brands like Catch are emerging as preferred partners for standardized spice and salt procurement.
DS Group’s FMCG Strategy Gains Traction
The group’s broader FMCG strategy now includes segments such as spices, packaged drinking water, and dairy-based beverages. The company has signaled intentions to launch new products under the Catch umbrella—ranging from ready-to-cook pastes to gourmet gravies. This strategic expansion plays directly into India’s growing demand for convenience-led culinary products, a space also being explored by restaurant brands for retail monetization.
For foodservice operators, this signals an opportunity: align with trusted FMCG brands that can support operational scale, while also exploring co-branded retail opportunities.
Hospitality Remains a Quiet Strength
While the DS Group has not publicly released revenue breakdowns by vertical, its hospitality ventures—including luxury properties like The Manu Maharani (Nainital), Namah (Jim Corbett), and other branded hotels—continue to support the group’s diversified portfolio. The business’s integration with F&B-led experiences gives it an edge in targeting the domestic travel and lifestyle-driven dining audience.
Looking Ahead
As the FMCG segment in India continues to grow—with projections to reach ₹15 lakh crore by 2026—the DS Group is positioning itself for deeper expansion. With the Catch brand now among the top contenders in the Indian spice industry, its rise offers both inspiration and strategic parallels for restaurant operators exploring vertical integration or brand partnerships.
The ₹10,000 crore milestone is more than a financial headline—it is a signal that well-timed reinvention, strategic category focus, and disciplined execution are winning formulas in today’s competitive food economy.
