The company, which has key brands, Almond Drops, Brahmi Amla, Jasmine, Kailash Parbat, Amla Shikakai in its hair care portfolio, said it "will seek inorganic growth opportunities in the FMCG and hair oil market as part of growth strategy."

In an investor presentation, the company said: "The inorganic growth opportunities will focus on targeting niche brands, which can benefit from BCL's strong distribution network so that they can be made pan India brands."

Spelling out the target, the company said it would "aim for a market share of 65 per cent by the year 2016-17" in the lighter hair oils segment.

Quoting AC Nielsen Retail Audit Report, November 2015 data, the company said hair oil market stood at Rs 8,972 crore, while that of the light hair oil market was at Rs 1,517 crore.

Emphasising on the importance of rural market in its strategy, the company said it would tap the increase in disposable income of rural India and "convert rural consumer from unbranded to branded products by providing them with an appropriate value proposition".

The company also said it would leverage on its existing strengths to introduce new products.

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