Financial Daily from THE HINDU group of publications
Monday, Feb 24, 2003
Financial Daily from THE HINDU group of publications Monday, Feb 24, 2003 |
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Corporate
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Diversification Surya Herbal plans foray into southern, western markets P.T. Jyothi Datta
NEW DELHI, Feb. 23 SURYA Herbal Ltd has lined up a slew of activities in the cardio-vascular, asthma and anxiety segments, besides rolling out a cosmetic line of natural products, in the forthcoming fiscal. A renewed thrust in the southern and western markets is also on the cards for the company that has a presence in the northern region. Belonging to the Rs 1,000-crore Surya Roshini Ltd, a major in the lighting industry, Surya Herbal has commenced clinical trials for herbal medicines in the cardio-vascular segment, Mr Ashutosh Gupta of Surya Herbal told Business Line. The company has a diabetes product, X-Diaba, a herbo-mineral formulation that is said to help in lowering blood sugar by stimulating insulin secretion, according to the official. Priced at Rs 200 for a pack of 20 capsules, the product has been launched across the country. Meanwhile, the company is also set to launch its natural cosmetics line, a segment that has heavy-weight players such as Hindustan Lever Ltd's Ayush, Himalaya's basket of herbal products and Dabur. However, Mr Gupta feels that the estimated Rs 400-crore natural cosmetics segment, growing at a healthy 20 per cent per annum, has place for more players. The new line of products includes skin-care, hair-care and anti-ageing products, to mention a few. The company has its manufacturing unit at Noida, on the outer-fringes of the Capital, and the official is confident that the capacity would be able to fulfil requirements of the southern and western markets too. Plans for additional capacity would be firmed up, only after the company makes its inroads into these two new regions, he said. Surya Herbal's basket of ayurvedic medicines is being exported to the US, Europe, Russia, Kazakhstan, and Ukraine, among others. With plans to increase its presence in the domestic and export markets, the company hopes to double its sales in the forthcoming fiscal to Rs 15 crore.
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