Hind Latex targeting 60% growth
The company is eyeing a turnover of Rs 350 crore through various products, including injectable contraceptives.india Updated: Aug 22, 2006 14:28 IST
Contraceptives major Hindustan Latex Ltd (HLL) is targeting a 60 per cent growth in the current fiscal with a turnover of Rs 350 crore through its various products, including injectable contraceptives for women which will be launched next month.
HLL Chairman and Managing Director M Ayyappan told reporters in Kochi on Tuesday that he had also suggested to Kerala State Road Transport Corporation (KSRTC) CMD K P Somarajan to install condom vending machines in the state-owned buses.
"There are 11,000 condom vending stations in the country at present and another 10,000 would be added this year of which 500 would be in Kerala," he said.
On the injectable contraceptives, which have to be administered once in three months, Ayyappan said about 50,000 vials were being imported by India at present from a South African company.
The response to the female condoms, being launched under the Confidom brand, had been good, he said. The product is being sold in Bangalore and Kolkota at present.
The condoms are being imported from the UK-based Female Health Company.
While Confidom would be available only in lifestyle shops and are priced at Rs 120 each, those being distributed by the NGOs, would cost only Rs 5 each, he said.
HLL had also acquired a unit at the Export Processing Zone at Kochi to manufacture female condoms, he said.
The company's turnover in 2005-2006 fiscal was Rs 213 crore, while the net profit after tax was Rs 22.65 crore.
The company is also planning to launch nearly 1,000 Life Spring hospitals in the country.
The hospitals would have 20-25 beds and would be set up in far-flung areas in the country where quality hospitals are not available for the poor.
While such hospitals have come up at Hyderabad and Kanpur, another will be opened at Agra next week, he said.