Mumbai: Homegrown drug major Zydus Cadila has set a target of clocking a consolidated turnover of over Rs 10,000 crore by financial year 2015-16.
"We will have a revenue of Rs 10,000 crore in FY16. We closed last fiscal with a revenue of Rs 7,208 crore," Zydus Cadila chief operating officer and executive director Ganesh Nayak told PTI in Mumbai.
The Ahmedabad-based company has planned a capital expenditure of Rs 450 crore this fiscal year (2014-15). It has presence in the US, the European Union, Brazil, Mexico and exports generate half the revenue.
Meanwhile, its consumer products arm Zydus Wellness, which makes the Sugar Free range of sugar substitutes, is looking at a foray into adjacent categories like jams and biscuits in the future.
The sweetener brand Sugar Free has a 93 per cent market share in the sugar substitute category that is estimated at Rs 250 crore and growing at 12 per cent.
"There is an opportunity to get into adjacent categories if you think of Sugar Free. So anything that is potentially served with sugar whether it is jam or biscuits or any product, could be substituted with a sugar-free version."
"The category penetration of sugar substitution per say where we are competing today is as low as 15 per cent. There is lot of unfinished business and lot of growth to be had in current category. We are thinking about related categories and growth opportunities but we would rather address the immediate growth opportunity which lies within our range," Zydus Wellness managing director Elkana Ezekiel said.
Meanwhile, Mr Ezekiel said the company was going slow on its low-calorie soft-drink Sugar Free D'lite, launched in 2003, as it is not doing well and is practically off shelf.
"In the overall scheme of things and in terms of percentage to our turnover, Sugar Free D'lite has been relatively small. We have not done much with it recently and we don't have an aggressive plan for it now. It is not a business where we could get to scale up and something we want to hold on to," he said.
Zydus Wellness had reported sales revenue of nearly Rs 430 crore last fiscal year.
Its skincare brand EverYuth recently launched a facewash in Rs 1 sachets and the company expects it would help in increasing sales in rural areas with its attractive pricing.
EverYuth enjoys a market share of 2.7 per cent in the Rs 1,450-crore face wash segment, 91 per cent in the peel off category that is valued at Rs 75 crore and 32 per cent in the Rs 175 crore scrub category. After getting off to a rocking start, EverYuth had gone on to become the second largest brand in the category in 2009 but has since slipped to a trickle.