Hamdard intends to become Rs 500 crore company by 2010-11
India's leading Health & Wellness Company Hamdard is aiming to increase its product portfolio as the company targets to become a Rs 500-crore company by 2010-11.
The company, which produces brands like Rooh Afja, Rogan Badam and Safi, has around 600 formulations in the market under the three segments of OTC, consumer and traditional.
During a press conference on Monday, company revealed that it has plan to introduce around 15-16 new products in next two years, out of which around eight new products will be in OTC, six in consumer and around two in traditional medicines segment.
Further, revealing company's strategy, a senior company executive informed that the company has sketched investment plan worth Rs 60 crore for marketing and Rs 9-10 crore for R&D, which it will spend this year.
The company intends to clock a turnover of Rs 500 crore by 2010-11, up from Rs 300 crore.
In addition, the company also plans to increase its retail presence to around eight lakh outlets. Currently, the company has five lakh outlets, throughout the country.
The company intends to add new distributors to its network and wants to increase its sales force from the existing 300 to 460 within the next two years.
The company has short-listed West Bengal, Maharashtra and the Southern region for proposed expansion plan.