Hamdard Laboratories India on Friday stated it has forayed into the honey enterprise and can make investments as much as ₹15 crore on branding and advertising and marketing of the product.
The corporate is at present doing third-party manufacturing however has plans to arrange its personal facility in its present plant at Manesar in Haryana.
Hammad Ahmed, chief mutawalli (chief trustee), Hamdard Laboratories India, stated, “True to its ethos, Hamdard has all the time launched merchandise within the pure and well being advantages area, which stand for the very best ranges of high quality and purity. We’re proud to launch Hamdard Honey, which symbolises these core values.”
“We can be investing roughly round ₹10-15 crore within the branding and advertising and marketing of Hamdard Honey,” stated Hamid Ahmed, CEO, Hamdard Laboratories India (Meals Division).
The product manufacturing is at present carried out at a co-packing facility underneath the strictest high quality adherence norms, he stated in a press release.
“Nonetheless, we are going to quickly be establishing our personal manufacturing facility for Honey at our Manesar plant in Haryana, India,” he stated.
The scale, capability and different selections on funding can be taken after eight to 10 months, after analysing the market and shopper response, he added.
Hamdard Laboratories India, which has two divisions — meals and medication, had a turnover of ₹650 crore for the 2019-20 fiscal 12 months whereby its flagship product RoohAfza contributed 45 per cent.
“On this FY 2020-21 we predict our income to have an honest progress proportion in excessive single digits,” he stated.
Hamdard’s Pure Blossom Honey is offered in 3 completely different sizes — 50 gms, 250 gms and 500 gms PET bottles at costs of ₹35, ₹110 and ₹199, respectively.
Honey is a mature class with many gamers within the trade, with a dimension near roughly ₹2,500 crore, together with exports.