Operations in full swing at Baddi
The manufacturing plant of Paras Pharmaceuticals situated at Kalol near Ahmedabad has been lying idle for sometime now. The revelation was made by S Raghunandan, managing director and chief executive officer, Paras Pharma at a press meet here today to announce the launch of its two new variants in Gujarat.
“All the manufacturing takes place at our hi-tech manufacturing facility at Baddi because it is an excise free zone. We have not closed the Ahmedabad facility as we can use it as an option if there is any problem with our Baddi plant. Even if our Ahmedabad plant is idle, about 100 of our employees at the facility have not been laid off and are being paid,” Raghunandan said. The company's Baddi plant is spread over 43,000 square meters.
After launching Livon serum hair detangler, the FMCG company has plans to launch Livon conditioners this month.
"We have an 80 per cent market share in the 400 crore serum hair detangler segment. In order to get into a wider market, we have decided to launch the Livon conditioner this month," Raghunandan added.
Talking about the future plans of the company, Raghunandan said that the company will focus on international market growth in the next fiscal.
Currently, the company is busy promoting the ayurvedic syrup D'Cold Natural and the recently introduced Moov – Neck & Shoulder.
Commenting on this, Ajay Rawal, general manager, healthcare division of Paras said, "While D'Cold Natural has the natural ingredient haldi, it comes in a taste that will be liked by all. On the other hand, Moov-Neck & Shoulder is aimed at mostly bike-riders and computer-users. According to statistics, there are about 5 crore sufferers of neck and shoulder pain in India at present. Moov expects to touch a Rs 100 crore portfolio soon."
The company has a market share of 20 per cent out of the Rs 500 crore pain relief segment.
Paras Pharmaceutical reported a turnover of Rs 400 crore in the last fiscal and expects a growth rate of 25 per cent this fiscal.
The other brands of the company are Recova, Set Wet Hair Gel, Set Wet Deo, Krack, Itchguard, Dermicool, Ringguard, Stopache to name a few.
