HLL Life Care ends fiscal 2009-10 with record turnover
By IANSWednesday, April 21, 2010
THIRUVANANTHAPURAM - Leading condom manufacturer HLL Life Care closed the last fiscal (2009-10) with a record turnover of Rs.445 crore, the mini ratna company’s Managing Director M. Ayyappan said here.
Formerly known as Hindustan Latex Limited, the city-based enterprise recorded a turnover of Rs.371 crore in 2008-09.
HLL Life Care is the leading provider of a wide range of contraceptives, hospital products, pharma products and health care solutions. It also has a service division which is into procurement, consultancy and infrastructure development.
“The service division also showed a record growth, rising to Rs.852 crore from Rs.500 crore, thereby taking the total business done by our company from Rs.871 crore to Rs.1,297 crore,” said Ayyappan.
HLL Life Care has a 60 percent share of the total condom manufacturing business in the country which is close to 2,000 million pieces a year.
“Condom sales also reached a record high when production grew from 1,217 million pieces in 2008-09 to 1,348 million pieces. Likewise exports grew from Rs.24 crore to Rs.32 crore. The company currently exports contraceptives to 115 countries,” he said.
The service division of the company plans to execute infrastructure projects worth over Rs.6,000 crore this year.
This includes work in progress of an ESI (employees state insurance) medical college near Kollam at a cost of Rs.400 crore and six high-end medical institutions in various parts of the country.
“This infrastructure development wing is part of our diversification programme apart from doing our traditional condom business, where margins are low,” said Ayyappan.
