Nitta Gelatin India, a Kochi-based gelatin manufacturer, has entered the business-to-consumer (B2C) segment with an over-the-counter (OTC) product.
Nitta Gelatin India Ltd (NGIL) is a joint venture between Kerala State Industrial Development Corporation and Japanese partner Nitta Gelatin.
Gelatin, the company’s staple business-to-business (B2B) product, finds application in pharmaceutical sector for manufacture of capsules.
It is an unavoidable ingredient in the manufacture of soft gel tablets, too. NGIL will now manufacture collagen peptide, a nutritional supplement for bone and joint health.
It also marks the diversification from B2B to the B2C segment, according to G. Suseelan, Managing Director.
The new OTC product is called Gelixer CollagenPep, he told newspersons here while reviewing the company’s performance during the first quarter of 2012-13.
The shift to the B2C segment has given the company a thorough understanding of the dynamics of marketing and consumer perception and behaviour, he added.
The company is making products available online and has revamped its Web site — www.gelixer.com — to make it more consumer-friendly and interactive.
The other B2C product is Nutrigold, a certified organic product for the agricultural sector, developed in collaboration with Tamil Nadu Agricultural University.
It finds use in cotton, maize, rice, spices, tea, vegetables, pulses and other agricultural/horticultural crops.
“In 2011-12, Nutrigold found application in over 20,000 acres across the country and this year we have plan to cover over 60,000 acres,” Mr Suseelan said. The product is available in Kerala, Tamil Nadu, Karnataka, Andhra Pradesh and Maharashtra. It is distributed directly by the company and also through associates.
Meanwhile, NGIL declared a turnover of Rs 67 crore and a net profit of Rs 4.64 crore at the end of the first quarter of 2012-13.
This compares with the net profit of Rs 49 lakh of the corresponding quarter last year. Mr Suseelan attributed the better performance to rupee depreciation and better pricing of the product.
The company also declared a dividend of 40 per cent for 2011-12 on a turnover of Rs 240 crore. It hopes to close 2012-2013 with a turnover of around Rs 300 crore.