Farmax to expand presence

Hyderabad, Jan 25 (UNI) Planning to expand its presence by increasing the range and exploring new geographies, Farmax Health and Food Products Limited (FHFPL), a Hyderabad-based startup operating in the FMCG segment, will set up a facility by June 2007 for the manufacture of toothpaste and vermicelli with a capital investment of Rs ten crore.

The company currently has three products--coconut oil, toothpaste and mosquito coils.

While toothpaste and mosquito coils are being sold under the brand name 'Today', coconut oil is available as 'Monsoon'.

All the three products are being marketed in Andhra Pradesh, Karnataka, Orissa, Maharashtra and Bihar through a 250-strong dealer network.

As part of the expansion of the range, the company is gearing up to launch food products and certain Over the Counter (OTC) drugs. The OTC drugs would be outsourced from reputed suppliers.

One of the OTC products to be immediately made available is Today Relief 500, a drug for cure of common cold.

While other OTC products are at various stages of hitting the market, Farmax is also gearing up to introduce Today Vermicelli as part of its food products launch plan.

The company has been consciously focusing on the rural markets and FHFPL targets to achieve Rs 100-crore turnover in the next five years, FHFPL said in a statement here today.

UNI