Elder Health Care to enter Sri Lankan market by September

Elder Heath Care also plans to boost its own brands and will introduce about five to six products in the Indian market

Elder Health Care said that it will enter the Sri Lankan market by next month with the launch of branded personal care products and is scouting for acquisitions in Europe as part of global expansion plans.

The Mumbai-based firm, which mainly sells in-licensed products, also plans to boost its own brands and will introduce about five to six products in the Indian market. "Entering Sri Lanka is part of a global expansion strategy... The company has partnered with Sri Lanka's Ceylon and Foreign Trades PLC," the Elder Health Care Managing Director, Anuj Saxena, said in a statement.

He said under the partnership, the company will launch oral care, skin care and personal care products along with deodorants, soaps, mouth wash, rose water, face wash and fairness creams under its own brands. Elder Health Care has oral care, personal care and skin care products under different brands, including Fairone, Tiger and AMPM.

Mr Saxena said the company "is also looking at some acquisitions to enter the European market''. Apart from Sri Lanka, Elder Health Care also plans to enter Bangladesh, which is another lucrative market. He, however, did not provide further details on the Bangladesh plans.

On increasing the portfolio of Elder Health Care's own branded products, Mr Saxena said: "As part of our next five-year roadmap, we plan to build our own brands rather than go for in-licensed products." Based on this shift in strategy, the firm aims to have a 50:50 ratio between in-licensed products and owned brands in its portfolio over the next five years against the present 90:10 ratio in favour of in-licensed products. The Mumbai-based firm is also looking to more than double its revenues in the next two years from Rs114 crore in FY'11 to Rs300 crore by FY'13, riding on the back of its expansion plans.

In the late afternoon, Elder Health Care shares were trading at around Rs115 on the Bombay Stock Exchange, 7.58% up from the previous close.

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COMMENTS

Incontinence Treatment

5 years ago

Its good to know it. Sri Lankan consumers would have an easy access to these products.

Indian realty sector likely to see gloomy phase in 12 months

Projects would be delayed, unsold housing stock will rise and developers might have to offer new projects at 10-15% discount, all because of a slowdown in property demand

With the US and European debt crisis affecting sentiments across the world, the Indian real estate sector is likely to see a gloomy phase in the next 12 months and developers would face liquidity crunch, low sales and pressure on margins, consultant Jones Lang LaSalle said.

The country's leading realty consultant pointed out that the projects would be delayed, unsold housing stock will rise and developers might have to offer new projects at 10-15% discount, all because of a slowdown in property demand.

 "The US and European debt worries have added to the uncertainty... With the escalating global liquidity issues, these are challenging times. Over the next 12 months, we definitely expect these sentiments to reflect in the financial profile of the Indian real estate sector," Jones Lang LaSalle India Managing Director (West India) Ramesh Nair said. He said the banks would further tighten lending to realty sector and disbursal rate of home loans is bound to reduce.

"Developers will be under pressure to reduce their debt-to-equity ratios. Fund raising through the QIP route will reduce, and we are going to see a decrease in real estate IPOs," Nair said. To generate funds, the consultant said many developers will sell their non-core land and divest their stakes in non-core businesses such as hospitality and retail. Major firms like DLF is selling its non-core assets to cut its huge debt that stands at over Rs20,000 crore. Unitech at present has debt of about Rs4,000 crore.

"This is an unsettling time for the market, and obviously for real estate investors as well. Are we looking at 2008 all over again?" Nair said, referring to the global economic slowdown in 2008 that had hit Indian realty sector badly. The consultant observed that high interest rates, increase in vacancy and demand slowdown will impact the earnings of developers leading to a slowdown of construction activity and delay in project delivery. The margins of realtors would also be affected due to increased construction costs, Nair said.

"We are likely to see pre-launch projects coming with at 10% to 15% discount, over the pricing of other projects in the same areas," he added. Besides, the distressed projects of smaller developers will be acquired by medium-to-large players at prices significantly lower than their original valuations.

"The only constant is change. This has been an axiomatic truth for the Indian real estate market over the last 24 months, with volatility having become a byword to describe it. There has been little or no respite from this state of flux," Nair said.

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Axis Bank ties up with Maybank for remitting money

The service offers remittance facility for sending money to the intended beneficiaries, holding an account with Axis Bank or any of the 78000 NEFT enabled branches

Axis Bank said that it has tied up with Malayan Banking Berhad (Maybank), Malaysia, for remitting money from Malaysia to beneficiary accounts in India. Axis Bank has signed an agreement with Maybank for offering remittance facility to India, under Maybank Money Express (MME) service.

The service offers remittance facility for sending money to the intended beneficiaries, holding an account with Axis Bank or any of the 78000 NEFT enabled branches of over 100 other banks in India.

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