Vaidyaratnam group chalks out expansion plans

Kochi: The Thrissur-based Vaidyaratnam group, traditional practitioner and retailer of ayurvedic medicines, has chalked out ambitious expansion plans by infusing a capital investment of Rs 8 crore in the current financial year.

The expansion plans included enhancing the retail network, a new manufacturing facility outside the State and a new hospital block, Dr E.T. Neelakandan Mooss, Director, Vaidyaratnam Group, said at a press meet.

The Rs 35-crore group is adding 500 more outlets, bringing the total number to 1,500 across the country by 2010. The group at present has 1,000 retail outlets, including 22 branches having presence in all metros in the country, he said and added that the turnover is expected to touch Rs 50 crore in two years.

To meet the growing requirements of the new retail outlets, the company is in the process of setting up a new manufacturing unit at Pollachi with an investment of Rs 4 crore. The new facility is in addition to the existing manufacturing units at Ollur and Chuvannamannu in Thrissur district. The new factory will start production in September.

The group has the capacity to manufacture more than 400 classical products besides 30 patented products. The flagship product of Vaidyaratnam – Mehanil is a preferred choice of doctors for diabetic care. The company is in the process of developing effective formulation for pain and palliative carve, life style diseases management etc, he said.

Vaidyaratnam Nursing Home, the hospital division of the group, is enhancing its capacity from 100 to 200 beds by setting up a new hospital block with an estimated investment of Rs 3 crore.

The company is also exporting its products to 15 countries, including the US, the UK, South Korea, Spain and GCC countries. The company earned Rs 1.5 crore from exports in the last fiscal and is targeting Rs 3 crore in the current fiscal.