Bangalore-based Himalaya Drug Company, a herbal healthcare product major, is targeting a 50 per cent growth in the consumer health division for the financial year 2004-05. During the previous financial year, the consumer health division had contributed Rs 45 crore to the company’s total turnover of Rs 350 core.
The company launched two new products in the city on Tuesday, the ‘Shahicool herbal sharbat’ and a gripe water product. With the launch of these products the portfolio of the consumer health division increased to six products.
Addressing a press conference, Ravi Prasad, president and chief executive officer of Himalaya Drug Company, said: “We expect to reach the projected target with new products that are being launched during the current financial year.”
The herbal sharbat is priced at Rs 70 for a 700 ml bottle, while the gripe water is priced at Rs 25 for a 125 ml bottle.
R V Raman, business head of the consumer health division, said, “The Rs 20-crore gripe water market is at present dominated by a single player and with this launch we expect to capture around 10 per cent of the market share during the first year.”
The company for the financial year ended on March 31, 2004 had a turnover of Rs 350 crore and expects it to cross Rs 400 crore during the current financial year.
Prasad also said that the new Rs 165 crore production unit at Bangalore would be commissioned by the end of 2005. “After the new plant is commissioned, we expect the company to grow around 25 per cent each year as against the eight to 10 per cent growth seen in the pharma industry,” Prasad said.
The company also plans to increase the number of exclusive outlets both in the country as well as abroad. “At present, we have 57 exclusive showrooms in the country and three abroad, this year we plan to increase it to 75 in the country and six abroad,” Prasad said.