Ajanta plans unit in Himachal

Soon after diversifying into the fast moving consumer goods (FMCG) business, Ajanta India said it would set up a manufacturing unit in Himachal Pradesh at a cost of Rs 9.5 crore.

The FMCG division would see a sales growth of 50 per cent on the back of increasing sales of consumer care products, Ajanta India CEO Manish Purohit said here yesterday.

The company is aiming at a 50 per cent rise in its turnover to Rs 120 crore this fiscal. Ajanta India, the FMCG arm of the Rs 300 crore clock maker Ajanta quartz, was set up in April 2003. It has registered a business of Rs 80 crore during the past 10 months.

Ajanta India has invested Rs 25 crore in its Morbi unit in Gujarat to foray into consumer goods setor. "Our upcoming unit will cater to the domestic market while the Morbi facility be an export-oriented unit," he said.

Describing its range of products "most economical", he said more skin and hair care solutions would be introduced this year.

The company will start exporting to neighbouring countries and a gamut of consumer care products would later be shipped to Europe and the US, he said.