Emami to open plants in Bangladesh and EgyptJuly 6th, 2012 - 3:34 pm ICT by IANS
Kolkata, July 6 (IANS) Emari, the Indian personal and healthcare consumer products company, will open two manufacturing plants, one each in Bangladesh and Egypt, in the current financial year, expanding its international footprint.
“Our two overseas plants - one in Bangladesh and another in Egypt - will be operational from this fiscal. The plant in Bangladesh near Dhaka will be operational first,” Emami Group Chief Executive Officer (finance, strategy and business development) N. H. Bhansali told IANS.
Both the plants would produce personal and healthcare products.
Bhansali said the Bangladesh plant was a subsidiary. “It is our own plant. We will invest Rs.15-20 crore (Rs.150 million/$2.7 million to Rs.200 million/$3.6 million) in Bangladesh over the next two years.”
In Egypt, the company acquired the plant last fiscal.
The Kolkata-based company expects decent growth in its international business in 2012-13. “We expect our international business to grow by 20 percent to 25 percent in this financial year,” said Bhansali.
In 2011-12, its business was impacted in a few African markets such as Kenya, Angola, Morocco, Algeria and Libya due to lack of growth.
Emami’s international business currently accounts for about 13 percent of its total turnover.
The company, however, said even after opening the two overseas plants, share of its international business might go up marginally or remain the same as the domestic business is also increasing.
Bhansali expects that the company’s business from domestic operations would expand 17-20 percent this fiscal.
The company, which clocked a turnover growth of 16.6 percent in 2011-12, is expected to post a growth of 17-18 percent.
The FMCG major, which had a turnover of Rs.14.54 billion ($265 million) last fiscal, continued to record substantial growth from its power brands like Navratna Oil, Boroplus antiseptic cream, Zandu Balm, MenthoplusBalm and Fair and Handsome.
Emami Group had reported a consolidated net profit of Rs.723.70 million for the quarter ended March 31, 2012, as compared to Rs.545.70 million in the same period last year - a jump of 32.6 percent. The total income of the group increased to Rs.4,238.20 million for the quarter from Rs.3,623.30 million for the corresponding period last year.
Note: One US dollar equals Rs.55, approximately.
(Mithun Dasgupta can be contacted at firstname.lastname@example.org)
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