For would-be filmmakers in Bengal, here's some good news. Kolkata's Rs 130 crore (Rs 1.30 billion) fast moving consumer goods company, Shalimar Chemical Works Ltd, is ready to finance films.
The only catch is that the company wants to be involved with films that have 'value-based stories and a star cast.' It has already set the ball rolling by part-financing Goutam Ghosh's Abar Aranye.
Talks are on with a National Award winning director to finance his next Bengali venture. Shalimar Chemical is famous for its branded coconut and mustard oils and a range of spices.
"We want to merge our company's profile with Bengali cultural values," says Sujit K Bhattacharya, vice president and country head, Shalimar Chemical.
The Rs 15 lakh (Rs 1.5 million) that the company spent in presenting its first Bengali film was an effort in building its brand name.
Says Bhattacharya, "When we were offered the chance to put in some money in Ghosh's film we took it up."
In a way Shalimar Chemical's effort is also to expand its consumer base. It's main product, coconut oil, is aimed at the mass market.
By involving itself with an art film, the company wants to tap the upper middle-class segment. Abar Aranye is the sequel to Satyajit Ray's Aranye Din Ratri.
"Cinema being a mass media can provide the constant hammering that an advertiser needs minus the generous ad spends," says Bhattacharya.
Shalimar Chemical has had a long association with promoting culture, especially during the annual Durga puja celebrations. "It's basically using culture to build your brand," admits Bhattacharya.
Shalimar Chemical's market share in the coconut oil sector is roughly around 20 per cent nationally. The annual gross turnover during 2002-03 was around Rs 130 crore.
Over the last year the company grew at roughly 23 per cent. The company expects to stay ahead of the competition by adding perfumed and ayurvedic hair oils to its product portfolio shortly.
