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| Emami sees Rs 5,000 cr turnover in 5 yrs |
| Press Trust of India / Kolkata Dec 31, 2009, 19:56 IST |
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Kolkata-based FMCG company Emami today said it aims to increase its turnover to Rs 5,000 crore in the next five years.
"We will make it a Rs 5,000 crore company in five years. In the current 2009-10 year we will touch Rs 1,000 crore," Emami Chairman R S Agarwal told reporters on the sidelines of the company's 26th annual general meeting.
He said the company, which had acquired majority stake in Zandu Pharmaceutical in 2008, would grow 20-25 per cent every year.
Speaking about new growth areas, Agarwal said thrust will be given to ayurvedic division which may look at launching a new product, develop separate brands and brand extension.
"We are coming out in a big way in the ayurvedic division. We will also give more focus on herbal cosmetic and toiletries," he said.
Agarwal, who is also the joint chairman of Emami group that owns Emami Paper Mills said the company is looking at acquisitions in the country and abroad.
"We are looking at places in Canada, Malaysia, Indonesia, Australia, the US, wherever it is feasible."
On the recent offloading of Zandu shares, Agarwal said there is no plan to reduce holding in the company below 51 per cent and it would continue to retain the controlling interest.
Emami sold Zandu shares at an average price of Rs 6,600 per share, while it paid Rs 12,775 a share on an average to acquire.
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