06 Nov

Amrutanjan to add olive oil to portfolio

Over-the-counter (OTC) healthcare products manufacturer Amrutanjan Ltd has outlined plans to acquire a few brands over the next one year, to facilitate vertical growth in the pain management category of the healthcare segment.

The company has strong product dependency, with around 80 per cent of Amrutanjan’s revenues accrue from the sale of its standard yellow pain-reliving balm, and the Amrutanjan Strong balm. This single product dependency is what the company would most probably like to address with potential acquisition of other brands, and a diversification of its product portfolio.

Amrutanjan is also mulling the launch of two new offerings, an olive oil under the brand name ‘Cutis’ over the next few months. The olive oil will be imported from Greece, and sold under the brand name in the country.

The domestic market for olive oil is estimated at Rs200 crore, and is reportedly growing at 18 per cent per annum. Amrutanjan is reportedly looking to secure a 10-per cent share in about two years, through retail as well as bulk sales to hotels and other bulk users.

The company distribution currently includes tie-ups with around 1,800 distributors, supplying to around 4.5 lakh retailers, mainly in South, West and East India. Amrutanjan has reportedly planned a spend of Rs12 crore for brand building, alongside domestic promotion of its product portfolio, and localised marketing in South Asia, Africa and Gulf countries.

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