In a significant financial milestone, the makers of the iconic Mysore Sandal Soap, Karnataka Soaps and Detergents Limited (KSDL), have paid a record-breaking dividend of ₹108.62 crore to Karnataka Chief Minister Siddaramaiah. This marks the highest-ever dividend payout in the company’s illustrious history.
The presentation took place during a formal ceremony, where top officials of KSDL handed over the dividend cheque to the Chief Minister, symbolizing the company’s strong financial performance and consistent growth.
The Karnataka state-owned KSDL, famous for producing the century-old Mysore Sandal Soap, has been a proud cultural and economic cornerstone of Karnataka. Established in 1916 by the erstwhile Mysore Maharaja, KSDL has gained national and international recognition for its premium sandalwood-based products.
Chief Minister Siddaramaiah praised the company’s stellar performance, stating, “KSDL’s success is a testament to the quality of its products and the legacy it carries. This record dividend will greatly contribute to the state’s economic growth.” He further emphasized the government’s commitment to supporting public enterprises and promoting Karnataka’s rich heritage industries.
The ₹108.62 crore dividend highlights KSDL’s profitable operations amidst growing competition in the FMCG sector. The company’s strategic initiatives, including product diversification, modernized manufacturing, and increased export operations, have helped bolster its market presence and revenue growth.
The announcement has garnered significant attention across the business and cultural sectors. Industry experts have lauded KSDL’s ability to thrive while retaining its heritage, with Mysore Sandal Soap continuing to enjoy unmatched loyalty among consumers for its quality and authenticity.
This historic dividend is expected to provide a boost to Karnataka’s revenue and reaffirm the importance of supporting state-run enterprises. As KSDL celebrates this achievement, the company also looks forward to further strengthening its position as a global leader in sandalwood products.