HLL Lifecare Ltd, a mini-ratna public sector enterprise under the ministry of health and family welfare, has recorded an impressive 35 per cent compound annual growth rate (CAGR) in the business volume during the last five years, thanks to the vigorous diversification and expansion drive.
The HLL, one of the leading manufacturers of contraceptives in the world, handled a total business of Rs.1131 crore during the last financial year when the manufacturing turnover increased by 17 per cent, riding on its new diversified business models including project consultancy, diagnostics, medical devices, healthcare delivery and health education.
The company chairman and managing director M Ayyappan presented a cheque of Rs.233.02 lakhs to Hon’ble Union minister for health and family welfare Ghulam Nabi Azad here on Wednesday. Secretary, ministry of health and family welfare, P K Pradhan, other senior officials from the ministry and HLL were also present on the occasion, according to a release here.
The profit after tax stood at Rs.184 lakh, registering 23 per cent increase over the previous year.
“We have been constantly on the task to diversify itself to emerge as the full-spectrum healthcare company and the growth reflects this drive,” CMD Ayyappan said.
The HLL, which accounts for nearly 10 per cent of global production of condoms and has a diversified portfolio including popular 'Moods' brands, will now supply sanitary napkins under the brand 'Free Days' to the Union government for its national programme.
“We are setting up production facilities to manufacture sanitary napkins at different locations in the country. Production at the Belgaum facility in Karnataka will begin soon,” he said.
“As part of the diversification, we are venturing into the field of diagnostics by setting up a chain of diagnostic labs under the brand 'Hindlabs' to provide high quality reliable services at affordable rates across the country,” he said.
HLL, which has diversified into many areas, has already completed upgradation of three super speciality medical colleges under the Pradhan Mantri Swasthya Surakha Yojana (PMSSY). The Centre has entrusted the task of upgrading three more medical colleges to the HLL apart from construction of National Institute of Para-medical Sciences (NIPS) & Regional Institute of Para-medical Sciences (RIPS)
HLL, formerly known as Hindustan Latex, produces over 1.316 billion condoms annually, making it the mainstay of its portfolio. Apart from its wide range of contraceptives including female condoms and pills (hormonal & non-hormonal), its portfolio now also includes blood collection bags, surgical sutures, in-vitro diagnostic test kits, pharma products for women, natural products, tissue expanders, blood banking equipment, transfusion equipment etc.