Riding on the high growth in personal care segment, Himalaya Drug Company will launch two more products to further increase revenues from this segment.
Personal care business contributes about 38 per cent to the company’s total turnover of Rs 1,450 crore. The company aims to further increase the revenue share from this category by launching more products in the men’s grooming segment this year.
“We are the number-one in personal care segment particularly in the women's face wash. In the next one year, we will launch new products in hair care and skin whitening for men’s grooming,” said Philipe Haydon, Chief Executive Officer,Himalaya Drug Company.
For the company, personal care segment has been growing at the rate of 30 per cent during the last few years. “In 2002, it was 10 per cent of the total revenue and 90 per cent was pharma revenue. But in the next few years, we expect it to overtake pharma revenues,” he told presspersons in Ahmedabad on Monday.
Men's grooming products
Industry estimates put India’s men’s face wash market at around Rs 200 crore, which is likely to grow by 25 per cent annually in the next few years. The overall men’s grooming products market size is likely to grow exponentially with leading personal care manufacturers entering the fray. It is estimated to touch Rs 5,000 crore by 2016. Himalaya plans to grab about 12-15 per cent of the market share.
Baby care products
Himalaya, currently operating under four product segments namely pharmaceuticals, baby care, personal care and animal health, has recorded 130 per cent year-on-year growth in baby care products. The company has over 350 products in all.
The company targets $1 billion global revenues by 2018-2020, out of which half of it will come from India.
The company’s new investments will go into three key areas, R&D, infrastructure and human resource. However, in the pharma space, Himalaya would increase its focus on oncology and HIV-AIDS related therapies.