The Hindu Business Line : Plethico set to clock Rs 1,000 cr revenue this year

Mumbai, July 5 Herbal and nutraceutical products maker Plethico Pharmaceuticals looks set to achieve its projection of clocking revenues of Rs 1,000 crore, two years ahead of its target of reaching that figure by 2010.

And helping Plethico pole-vault to the projected target ahead of time is the US-based herbal and nutraceuticals maker Natrol Inc, whose acquisition Plethico completed in January this year.

Plethico clocked revenues of Rs 550 crore for the 15 months ended December 2007.

This will be the first full year after consolidation and Plethico expects to close this year at over Rs 1,000 crore, said Mr Sanjay Pai, Plethico’s Chief Financial Officer. This would include Natrol’s projected revenues of $110 million (Rs 470 crore), he said.

Change in tack

In 2003, drugmaker Plethico had taken a decision to recast itself in a new mould, after it sold its prescription-driven drugs business to focus on the high margin herbals and nutraceuticals segment.

The company has grown since, got listed in 2006, and at present about 75 per cent of its revenues comes from herbal and nutraceutical products. Promoters hold about 87 per cent in the company.

Plethico shares were down over three per cent on the BSE at Rs 384.30 on Friday.

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