Carnation Nutra Analogue Foods, a subsidiary of Ahmedabad-based Cadila Healthcare, popularly known as Zydus Cadila, may change its name to Zydus Wellness soon. A demerged consumer products division of Zydus Cadila, Carnation is likely to pass a special resolution for the same at its upcoming extra ordinary general meeting (EGM) on December 30, 2008.
Carnation Nutra was hived off as part of Zydus Cadila's plans to consolidate on its consumer products division. The change in name is also believed to be a move towards the same.
Recently, Zydus also relaunched its popular Nutralite brand as Nutralite Premium Margarine. The company intends to capture a market share of 8-10 per cent of the Rs 800 crore-odd branded butter market over the next two years.
For the financial year 2007-08, Carnation, which markets Nutralite, one of the largest selling butter substitute, pegged a turnover of Rs 57.9 crore.
