Financial Daily from THE HINDU group of publications
Wednesday, Nov 27, 2002
Financial Daily from THE HINDU group of publications Wednesday, Nov 27, 2002 |
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Marketing
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New Products & Services Corporate - Outlook Himalaya looks to double turnover in 2 yrs Our Bureau
Mr Ravi Prasad (right), CEO, Himalaya Herbal Healthcare, and Dr. S.K.Mitra, Executive Director, Research & Technical Services, at the launch of `Chyavanprasha' in Mumbai on Tuesday.
MUMBAI, Nov. 26 THE Himalaya Drug Company expects to double its turnover in the next two years. The herbal healthcare company is expected to end the financial year 2002-03 with a sales figure of Rs 325 crore as compared with Rs 250 crore last fiscal. Speaking to newspersons in Mumbai, Mr Ravi Prasad, President and Chief Executive Officer, The Himalaya Drug Co, said the company expected a tremendous boost in its sales figures through new product launches. "We expect to hit Rs 500 crore in the year 2005 through new product launches," he said. The company's overseas operations are also expected to contribute increasingly. "The international markets for herbal products is showing remarkably high growth rates. Overseas operations contribute about 20 per cent to the overall turnover and this is set to increase substantially this year," Mr Prasad said. The company has a presence in 55 countries. Himalaya recently made an entry into the Rs 400-crore Chyavanprash segment by launching a 500-gm jar priced at Rs 110. The company targets Rs 20-crore sales in the first year itself. The personal care range formerly under the brand name `Ayurvedic Concepts' is also expected to contribute significantly to the turnover. According to Mr Prasad, the division will register an over Rs 50-crore sales figure this year. "The personal care range has done extremely well in the past five years registering a phenomenal 100 per cent growth in terms of sales. This year, we expect the growth rate to be about 85 per cent," he added. The company is set to increase its dedicated Himalaya Drug outlets from 18 to 50 this year.
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