Piramal Enterprises eyeing rural market
Piramal Enterprises which has aggressively been growing its over-the-counter (OTC) products portfolio over that last few years, is looking to expand its reach to the rural market, Kedar Rajadnye , chief operating officer of the company’s consumer products division, said.
Currently, the company has a distribution network of 350,000 retail outlets more than 1,500 towns in India. “We don’t have presence in rural right now; we are just focusing on urban areas and building on our strengths there. Two years from now, we believe that we will have to start looking at rural and build our expertise there. We will have to build our coverage and distribution in rural,” Rajadnye said.
Piramal Enterprises has been among the fastest growing companies in the OTC products space with a compounded annual growth rate of 21 percent during 2008-2016, and has a portfolio of 16 brands such as Saridon, Lacto Calamine and i-pill. In the financial year ended March, the company’s consumer products’ sales rose 44 percent on-year to Rs 375 crore.
Women healthcare, respiratory and allergy, gastrointestinal category, including digestives and anti-diarrheal segments, and nutritional products are some of the areas in which Piramal Enterprises sees good opportunities.
The company plans to grow this business both organically and through acquisitions. In the recent past, it has made a few acquisitions.