financetom
Business
financetom
/
Business
/
Investing in digitisation in big way: Amrutanjan
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Investing in digitisation in big way: Amrutanjan
Sep 6, 2020 5:42 AM

Amrutanjan Health Care Ltd, manufacturers of popular pain balm, is investing in digitisation in a big way, setting a target of garnering1.3 per cent of national sales through e-commerce, a top official has said.

Share Market Live

NSE

The company was eyeing to expand its distribution network in Western and Northern zones to strengthen its footprint, its Chairman and Managing Director Sambu Prasad said.

It was also working on launching a mobile application onits popular 'Comfy' brand aimed at serving women to track menstrual and feminine health and can alsoorder Comfy range of sanitary napkins and related products.

"Keeping in line with the strategies mentioned in the past, we continue to focus on building distribution for our brands with the M5K plan that targets a vision of appointing 5,000 distributors and sub-distributors", he said addressing shareholders in a virtual meeting recently.

Last year the company appointed 974 distributors and sub-distributors improving direct coverage from 3,953 to 4,510 towns.

"..this would drive our vision to grow distribution of our range of products to regions in western and northern zones where our business is relatively weak," Prasad said.

On foraying into digital space, he said the company was investing in digitisation in a big way by building on the sales force automation project that was rolled out a couple of years ago by building a dashboard that seamlessly integrates data flow from various sources.

"Part of the digitisation is also to offer our products for sale on our corporate website. Our products are available currently online in Amazon, Pharmeasy, Netmeds, Apollo," he said.

Prasad said the company recorded Rs 1.6 crore e-commerce sales in the last year. "We wish to target 1.3 per cent of national sales from e-commerce in FY21", he said, adding current sales from online contributes about 0.5 per cent.

Amrutanjan Health care is focused on growing pain, health beverages and women's hygiene portfolio, Prasad said. "when one considers the ageing population, prevalence of stress-related aches and pains, increasing lifestyle of exercise, fitness and sports activities, the secular growth of certain over the counter categories can continue well into the future", he said.

On the impact of COVID-19, he said the pandemic did not affect the company operations till March and later disrupted the market, stopped movement of goods to both distributors and retailers and end consumers. "The hit to sales in March was to the tune of Rs 33 crore" he said.

The CMD said potential sales without the impact of COVID-19 would be Rs 321.92 crore with revenue growth of 14.44 per cent. The company's revenue from Comfy brand was Rs 40 crore as compared to Rs 35 crore in the previous year, he said, adding sales from the "Roll On" was Rs 26 crore as against Rs 21 crore recorded in the previous year.

"We are confident of weathering the storm as we have built a business on strong fundamentals with real consumer demand," Prasad said.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Update: NeueHealth Shares Soar Premarket Following $1.3 Billion Deal to Go Private With New Enterprise Associates
Update: NeueHealth Shares Soar Premarket Following $1.3 Billion Deal to Go Private With New Enterprise Associates
Dec 24, 2024
05:07 AM EST, 12/24/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.) NeueHealth's ( NEUE ) shares soared more than 60% in premarket activity on Tuesday after the company said overnight it agreed to be acquired and taken private by an affiliate of New Enterprise Associates for an enterprise value of about $1.3...
Russian cargo ship sinks in Mediterranean after explosion, Russian Foreign Ministry says
Russian cargo ship sinks in Mediterranean after explosion, Russian Foreign Ministry says
Dec 24, 2024
* Ship was en route to Vladivostok, says owner * Was reported to be carrying port cranes, ice-breaker parts * 14 crew rescued, two still missing * Cause of engine room explosion unknown so far (Adds Russian embassy to Spain in paragraph 4, entities sanctioned status in paragraph 5) By Andrew Osborn and Gleb Stolyarov MOSCOW, Dec 24 (Reuters) -...
Abbott Laboratories, DexCom Settle Patent Disputes Related to Continuous Glucose Monitoring Products
Abbott Laboratories, DexCom Settle Patent Disputes Related to Continuous Glucose Monitoring Products
Dec 24, 2024
05:10 AM EST, 12/24/2024 (MT Newswires) -- Abbott Laboratories ( ABT ) said Monday it has reached a settlement with DexCom ( DXCM ) to resolve all outstanding patent disputes related to continuous glucose monitoring products. The details of the settlement remain confidential but Abbott said there are no financial payments involved in the agreement. Abbott also said the settlement...
Mynaric Secures Third $5 Million Bridge Loan for 'Immediate' Working Capital Purposes; Shares Jump Premarket
Mynaric Secures Third $5 Million Bridge Loan for 'Immediate' Working Capital Purposes; Shares Jump Premarket
Dec 24, 2024
05:00 AM EST, 12/24/2024 (MT Newswires) -- Mynaric AG ( MYNA ) disclosed Monday it secured a $5 million loan following an amendment to its loan agreement with US-based lenders. The company expected to have the third bridge loan fully drawn as of Dec. 23 to meet immediate working capital needs. The third loan is in addition to the $95...
Copyright 2023-2026 - www.financetom.com All Rights Reserved