Hamdard Laboratories India on Friday said it has forayed into the honey business and will invest up to ?15 crore on branding and marketing of the product.
The company is currently doing third-party manufacturing but has plans to set up its own facility in its existing plant at Manesar in Haryana.
Hammad Ahmed, chief mutawalli (chief trustee), Hamdard Laboratories India, said, “True to its ethos, Hamdard has always launched products in the natural and health benefits space, which stand for the highest levels of quality and purity. We are proud to launch Hamdard Honey, which symbolises these core values.”
“We will be investing roughly around ?10-15 crore in the branding and marketing of Hamdard Honey,” said Hamid Ahmed, CEO, Hamdard Laboratories India (Foods Division).
The product manufacturing is currently done at a co-packing facility under the strictest quality adherence norms, he said in a statement.
“However, we will soon be setting up our own production facility for Honey at our Manesar plant in Haryana, India,” he said.
The size, capacity and other decisions on investment will be taken after eight to ten months, after analysing the market and consumer response, he added. Hamdard Laboratories India, which has two divisions — food and medicine, had a turnover of ?650 crore for the 2019-20 fiscal year wherein its flagship product RoohAfza contributed 45 per cent.
“In this FY 2020-21 we are expecting our revenue to have a decent growth percentage in high single digits,” he said.
Hamdard’s Natural Blossom Honey is available in 3 different sizes — 50 gms, 250 gms and 500 gms PET bottles at prices of ?35, ?110 and ?199, respectively.
Honey is a mature category with many players in the industry, with a size close to approximately ?2,500 crore, including exports.