Financial Daily from THE HINDU group of publications
Thursday, May 09, 2002
SRL Ranbaxy targets Rs 250-cr turnover -- Unveils new corporate identity
Mr Malvinder Mohan Singh, Director, SRL-Ranbaxy (right), with Mr Shivinder Mohan Singh, Director, unveiling the new corporate identity in the Capital on Wednesday.
NEW DELHI, May 8
SRL Ranbaxy Ltd (SRL), a medical laboratory testing company, expects to increase its annual turnover from the current level of about Rs 45 crore to Rs 250 crore over the next five years.
This was stated by Mr Malvinder Mohan Singh, Director of SRL, at a press conference in the Capital.
A new corporate identity was also unveiled here today for SRL, which was recently acquired by entities controlled by Mr Malvinder Mohan Singh and Mr Shivender Mohan Singh, sons of late Dr Parvinder Singh.
Mr Malvinder Singh, who presented the vision of the newly constituted board, said that the targeted turnover would be achieved on the back of volume growth coupled with enhanced contribution from testing activities. "We hope to reach a level of 25 million tests a year as against the current level of about 4 million tests,'' Mr Malvinder Singh said, adding that SRL expected to achieve a market share of 10 per cent in the next five years.
SRL currently enjoys a market share of 5 per cent in volume terms. Mr Malvinder Singh also said that the current clinical testing market was estimated to be about Rs 1,600 crore per annum.
He said that SRL would increase its presence from 215 towns to 400 towns in the next five years and also increase the number of collection centres from 500 to over 2000.
Mr Harpal Singh, Chairman, SRL, said that the company had returned to the black in the last fiscal. The total accumulated losses of the company till date are about Rs 35 crore.
He also told Business Line that the use of `Ranbaxy' name in SRL's corporate identity was agreed to by the Ranbaxy Laboratories board only after satisfying itself that SRL would not in any way dilute the brand equity of `Ranbaxy'.
"The use of Ranbaxy's name for a particular period was part of the overall arrangement. It formed part of the total consideration of Rs 14.35 crore that was paid by the two sons of Dr Parvinder Singh for acquiring 100 per cent equity interest in SRL,'' Mr Harpal Singh said.
Mr Malvinder Singh said that the internal resources of SRL would take care of current capital needs of the company even as he added that the promoters were willing to invest more money if required.
"As of now, there are no immediate plans to go public. There are a number of factors that need to be considered. The timing is crucial and we will take a decision at an appropriate time,'' Mr Malvinder Singh told Business Line.
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