Maintaining over 20 per cent CAGR, wellness firm Himalaya Drug Company is looking at Rs 2,500 crore revenue next fiscal and plans to hire around 1,000 people as it enters new verticals and expands distribution network.
According to a PTI report: The homegrown firm had posted Rs 1,800 crore turnover last fiscal and is expecting Rs 2,100 crore sales in 2016-17.
“We are expecting revenues of up to Rs 2,500 crore in the next fiscal FY18 maintaining a compounded annual growth rate (CAGR) of over 20 per cent year-on-year,” CEO, Himalaya Drug Company, Philipe Haydon was quoted by PTI as saying.
At present, Himalaya’s biggest vertical is personal care contributing 42 per cent to total sales, followed by pharmaceutical 32 per cent, baby care 15 per cent, animal health 5 per cent and wellness 5 per cent, he added.
“We have just launched mothercare products with the launch of 4 products followed by at least 8 products in next one and one and half years. We expect this segment to contribute to 5 to 6 per cent to our revenues in next two years,” Haydon was quoted by PTI as saying.
The company is aiming to expand presence in all the verticals it is in, he added.
As part of the expansion process the company is also looking to add to its workforce which is around 9,000 to 10,000 at present.
“We plan to add at least a 1,000 people during the next fiscal in all the verticals as we increase our verticals and distribution network that we are in,” Haydon was quoted by PTI as saying.
The company, which sells herbal products, is also enhancing its research in order to tap into the knowledge of ancient Indian medicinal practice and has developed a large research and development facility.
“Our strong focus on innovation and rigorous research has helped us develop more than 300 products spanning 7 divisions and we will continue to explore the potential of Ayurveda in improving the quality of life,” Chief Scientific Officer, Himalaya Drug Company, Rangesh Paramesh was quoted by PTI as saying.
Himalaya has spent years studying the therapeutic benefits of herbs to use in its products and every product is created following stringent standards of safety, efficacy and quality control, he added.