On an expansion mode, Rajkot-based ayurvedic health care company Ban Labs Limited is planning to invest about Rs 150 crore in the next two years. The company intends to introduce several fast moving consumer goods (FMCG) for various utilities.
“We are looking at offering various FMCG products like car wash glass wash, ready-to-serve masala tea, and coconut water to name a few. Moreover, the company wants to expand its network across the country and for that we will invest about Rs 150 crore in next two years,” said Maulesh Ukani, managing director of Ban Labs.
Ban Labs has more than 100 beauty and healthcare products which the company intends to double up with the help of its R&D team.
“We believe, in order to survive in competition, you have to keep innovating with your products and keep coming with something new every now and then. Hence, some of the Rs 150 crore worth investment will also go towards R&Ds,” said Ukani.
The company has two manufacturing plants in India, one each in Dehradun and Ponta Sahib in Himachal Pradesh.
Ban Labs export its products to places like UAE, Canada, New Zealand, Sri Lanka, Nepal, Bhutan, Russia, South Africa, Uganda, Jamaica, Romania, Philippines, Australia, Mauritius, Yemen, Poland and South East Asia. The company is also in talks with several retail players for supply of its products, Ukani said.
The company has been growing at a rate of 70-75 per cent per annum, while it recently pegged a turnover of Rs 100 crore.
“With the expansion, our turnover will also cross the Rs 200 crore mark by 2012. We are also planning to start our retail stores in cities like Ahmedabad, Vadodara and Rajkot in near future,” Ukani added.
