Ganga Pharma confident of reaching turnover of Rs 70 crore

The first listed Pharma company to get listed on BSE-SME, Mumbai based Ganga Pharmaceuticals Limited is confident of increasing its yearly turnover from Rs 3 crore to Rs 70 crores by 2020. Ganga Pharma is the first SME Pharma company in the country to get listed on the SME platform of BSE. Shares of Ganga […]

The first listed Pharma company to get listed on BSE-SME, Mumbai based Ganga Pharmaceuticals Limited is confident of increasing its yearly turnover from Rs 3 crore to Rs 70 crores by 2020.

Ganga Pharma is the first SME Pharma company in the country to get listed on the SME platform of BSE. Shares of Ganga Pharma started trading on BSE-SME from February 22. Speaking to SMEPost.com, managing director of Ganga Pharma, Bharat Sharma, said, “Ninety per cent of our revenues comes from 4 states – Maharashtra, Karnataka, West Bengal and Odisha. Maharashtra alone contributes 40 per cent of our revenue”.

Ganga Pharma was started by Bharat Sharma’s father, Brijmohan Sharma in 1974 as a proprietary firm. Now the Sharma family runs the company.

Sharma added, “We will use the IPO proceeds for sales, promotion and advertisement to push our growth and sales. We have only gone for basic dilution of our share capital. The IPO is for 25 per cent and its size is about Rs 1.5 crore”.

When asked about threat from big players like Patanjali coming to market, Sharma, said, “We are not threatened by big giants. In fact, they are actually increasing the herbal awareness in the market. It is a problem for western medicine. We should be thankful to Ramdev”.

Ganga Pharma also exports to countries like Australia and Mauritius, though it doesn’t contribute a significant part of the company’s revenue. The company is planning to push sales in these countries by taking Ayurvedic doctors to these countries who in turn will get involved in talks and seminars giving lectures on the importance of Ayurveda.

Sharma, said, “Our primary focus is local Indian market”. The prospectus of Ganga Pharma says that Indian herbal market will grow to Rs 7000 crores from its current market size of Rs 4205 crores. Sharma hopes they will be able to quickly migrate to BSE main board and post a profit margin of at least 15-20 per cent.

Ganga Pharma is not restricting itself to the manufacturing and sale of medicines, but also focusing on cosmetics, gel, cream and other OTC products.