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Himalaya Drug
eyes global ayurvedic market TCS loses $
15m contract in Indiana Bharat Forge
acquires German firm
Delhi airport needs new
complex
Loss can't be set off against
gain
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Himalaya Drug eyes global ayurvedic market New Delhi, November 22 “Plans are being formalised to set up a new R&D centre and manufacturing campus on 200 acre in Bidadi just outside Bangalore at an estimated cost of Rs 165 crore”, President and CEO of the company Ravi Prasad told The Tribune in an exclusive interview. The project had commenced in August, 2003, and scheduled to be completed by 2005. In addition, the company had struck alliances with international partners in countries such as Egypt. “The focus will be to strengthen distribution and to establish a brand equity for Himalaya through marketing strategy jointly developed with international partners”, he said. Mr Prasad said a new brand identity has enabled the Himalaya Drug Company to gain acceptance as a modern Ayurvedic company and the company is now planning to expand its retail network across the country. The company has clocked a turnover of Rs 300 crore in 2002-03. “Consumer feedback from over 56 countries and India about Himalaya and the complete range of products offered prompted us to unify all our offerings under the single, global brand
''Himalaya'' in December, 2001”, he said. At present, Himalaya’s products can broadly be categorised into four main ranges: pharmaceutical, personal care, consumer health and animal health. Prominent among the Himalaya brands is
Liv. 52, a liver formulation, which is also the flagship brand of the company. Explaining the rationale behind the brand repositioning strategy, he said the company realised the need to have a “single, coherent brand identity and strategy” in December, 2001. “This resulted in brand unification under a single brand name
—Himalaya”, he said. “Ever since the brand unification in December, 2001, we have received overwhelming response from consumers across the world and in India accepting Himalaya translating into sales that have picked up since the re-branding”, Mr Prasad said. Synergy between Ayurveda and modern medicine is evolving in India. Until recently, the methods of traditional medical systems were “obscure, esoteric and shrouded in mysticism”. “Modern science, however, is rapidly unlocking the way these methods achieve results. This in turn has led to the arrival of a new planetary medicine using ancient techniques, under scientific management”, he observed. The new system, broadly categorised under the nomenclature Active
Ayurveda, in sync with the tools of modern bio-chemistry “is helping in rediscovering the ancient wisdom”. “Active Ayurveda started as a mere glimpse, a peek through the looking glass of the past, which may again become our future. It is developing quickly, so we now understand much better how traditional Ayurvedic formulations, and modern formulations that integrate tradition with modern science, really do work to help rebalance body systems”, he said. The commercial potential of Ayurveda can also be gauged from the fact that the global market for herbal health care is estimated at $62 billion . In India, the estimated size of herbal health and personal care market is in the range of Rs 2,500 crore to Rs 3,000 crore and it is growing at a growth rate of 15 to 20 per cent per annum. The global consumer and medical fraternity is fast realising the limitations of the present mainstream health care system. Medical practitioners and consumers who earlier looked at the herbal system as an ''alternative'', are now beginning to integrate it into mainstream health care system as complementary. “Yes, the future for the herbal industry in serving the personal and health care needs of consumers across the world looks bright and promising”, he said. At the same time, Mr Prasad cautioned that the pre-requisite to enter and succeed in the herbal health care segment is a strong R&D backing to create innovative health care products. “A state-of-the-art R&D forms the driving force in delivering high quality products to meet consumer demand across the world. The challenge is to be able to identify this requirement and direct efforts and investments cutting edge research and development”, he said. Moreover, unlike
allopathy, where the molecule structure, does not vary, there could be vast differentiation in the herb depending on the place, season and soil it is grown. |
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TCS loses $ 15m contract in Indiana
New Delhi, November 22 TCS US subsidiary TCS America’s $ 15.2 million contract from workforce development of Indiana state has been terminated. The contract from the Indiana Department of Workforce Development (DWD) was for upgrading its unemployment insurance computer system. The termination of TCS contract is first step towards changes proposed in procurement by government in Indiana. “In reviewing the current state procurement process, Indiana Governor Joe Kernan determined that one of the first issues to address was a contract between the Indiana Department of Workforce Development (DWD) and TCS America to upgrade its unemployment insurance computer system. DWD terminated the contract with TCS this morning (November 20),” an Indiana state government release said. “We have a chance to create a process that will provide Indiana companies with an increased awareness of the state contracts that are out there, thereby increasing their ability to land those contracts,’’ he said.
— UNI
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Bharat Forge acquires German firm Mumbai, November 22 In an asset purchase deal, BFL would acquire 100 per cent of the fixed assets, inventory and business of CDP, Germany, through a suitable special purpose vehicle with effect from January 1, 2004, with the deal being funded through internal accruals, a company press release said here. CDP is a major supplier of critical chassis components to leading automakers, including BMW, Volkswagen, Audi, DaimlerChrysler and Volvo. “The acquisition will help BFL to strengthen and expand its business in Europe through the addition of prestigious new customers and build new business with existing customers through deeper relationships and enhanced technology capability,” BFL Chairman and Managing Director Baba Kalyani was quoted as saying. The memorandum of understanding between BFL and CDP was signed in Ennepetal near Dusseldorf, Germany, yesterday and with the acquisition, BFL would emerge as the second largest forging company in the world.
— PTI |
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Delhi airport needs new complex It is laudable to build new terminal buildings at 10 non-metro airports, which have been neglected for many years. The expenditure will be about Rs 500 crore. These airports need to be upgraded without any loss of time. But facelift of Delhi and Mumbai airports will only succeed in slowing down the growth process. These airports have reached the saturation point and whatever changes made will be no more than cosmetic changes. The need of the hour is totally new airport complex. Airports are windows of the country indeed, but strengthening infrastructure, landscape, floors, paintings and baggage belts will not be enough. Air-India has already established its office in China for operations to start from next months. Those, who have had the survey of China in recent months, are emphatic that China’s airports more ultra-modern and passenger-friendly than many airports in Europe and the USA. They say India is a pigmy civil authority in relation to China. Twelve of the 24 non-metro airports will be provided to the Airport Authority of India to undertake the modernisation work. According to the ministry information, the AAI has been chosen as there is unrest among employees for
privsatisation. What is this reasoning? Privatisation is in the interest of the country. It should be undertaken regardless of what this or that union talks about. Decisions should not be taken on the basis of agitation. It is shocking that Bodhgaya have been cleared for the category-3, a landing system. How many flights Bodhgaya handles in a day or night. Why this installation at this small airport? What is the need for investing so much money on this project which will be seldom put to use. The ministry bigwigs seem to be blissfully unaware what is dynamism and what is radical thinking. The empowered Group of Ministers have made a quick retreat in deferring the decision on the appointment of the financial consultant for privatisation and modernisation of Delhi and Mumbai airports. The consultant will now be selected on the basis of the experience in airport modernisation, instead of going for the lowest bidder. It is a welcome sign that there will soon be separate norms for chopper operations. |
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Loss can't be set off against gain Q:
Kindly advise me whether capital loss incurred during the FY 03-04 due to redemption of US-64 units consequent upon the abolition of the scheme from June, 2003, can be set off against the capital gains made on the sale of shares, as I understand that the Finance Bill, 2003, has provided for exemption of capital gain on the transfer/sale of units — which will be a rare phenomenon what with sustained erosion of NAV of units over a period of time — with retrospective effect from April, 2002. Whether this will, by implication, also preclude capital loss being claimed as set off against capital gains made during the year, as it will deprive thousands of unfortunate investors and will in effect penalise them for their loyalty to remain with the fund till the end of the scheme? — Ghanshyamdas Bhuneja A: Yes, I share your exasperations. FA03 has exempted from tax any income arising from the transfer of units of US-64 referred to in Schedule-I of the UTI (Transfer of Undertaking and Repeal) Act, 2002 (UTI-I) and where the transfer takes place on or after 1.4.02. There is a hidden bomb in this proposal. This proposal is related with UTI-I where units of US-64 and all assured income schemes are transferred. Income i.e., capital gains, long-term as well as short-term are proposed to be exempt from tax. How many unit holders are there who have earned capital gains in this scheme? Almost everyone has incurred a loss. If the gains are exempt, the loss is also exempt. In other words, this loss cannot be set off against any other short or long gain. If this proposal is passed by Parliament, the unit holders will face a further loss.
Various queries Q:
I have been associated with a Mission School as
English teacher for the past 10 years. I was appointed in the mission for rendering honorary services. I am being given honorarium of Rs. 1,500 per month (Rs.18000 p.a.), PF is being deducted. No payment sheet is provided by the mission and I get the payment on putting signature in the Register. This apart, I have some other incomes by way of post office MIS, bank interest, dividend to the extent of Rs. 40,000 per annum. As it is my total income comes within the threshold limit of Rs. 50,000 after deductions u/s 80L. I do not file IT return. I have however obtained IT PAN. I acquired in August, 1998, equity shares (1,500 nos) of a listed company from secondary market at a consideration of Rs. 40,000 and sold those shares in October 2003 at a consideration of Rs. 1,30,000 resulting in a gain of Rs. 90,000. I now seek your advice in the following areas:- (a) Whether I have to pay IT for the gain of Rs. 90,000 and if so what would be IT involvement indicating the details of calculation. (b) Whether I can simply deposit the IT (that would arise) with the IT authority with/without quoting my PAN. (c) Whether I can avoid payment of IT on the capital gain, if so how. (d) Whether I have to file IT return for the above income in the current year. (e) Since I am having PAN whether I have to submit IT return irrespective of my income within/beyond threshold income of Rs. 50,000. Please advise. —Arati Sadhukhan A: Cost inflation index of 98-99 : 351 and that of 03-04 is 463. Indexed cost is 40000 x (463 / 351) = 52,764. Long -term Capital Gain (LTCG) is 130,000 - 52,764 = 77,236. Your income is Rs. (18,000 + 40,000 – 12,000) = 46,000. This being Rs. 4,000 short of Rs. 50,000, the taxable capital gain is Rs. 73,236. Tax at 20 pc of this amount is Rs. 14,647. You have the option of paying tax at 10 pc of the amount arrived at without indexation. The method of calculating this is a little difficult to understand, especially in your case. When gain with indexation is Rs. 77,236 the gains without indexation is Rs. 90,000. When gain with indexation is Rs. 73,236 the gains without indexation is Rs. (73236 / 77236) x 90,000). This is Rs. 85,339. The tax at 10 pc is Rs. 8,534. The tax payable by you is Rs. 8,534. After claiming the tax rebate of Rs. 5,000 for non-senior female residents, the tax payable works out at Rs. 3,534. You can claim exemption u/s 54EC by investing in the infrastructure-related bonds of Nabard, NHAI, NHB, REC or SIDBI within 6 months from the date of
sale. How much amount you have to invest? If there was no rebate, the amount to be invested would have been Rs. 73,236. Note that this is the right amount of capital gains. The amount without indexation is not the capital gains but it is computed only for the express purpose of arriving at the correct tax liability. To save tax of Rs. 8,534 you are required to contribute Rs. 73,236 to the Bonds. To save tax of Rs. 3,534 you are required to contribute Rs. ((3534 / 8534) x 73,236). This is Rs. 30,300. This is not the final figure. If the mission gives you a certificate or a statement indicating your salary, you can subtract the standard deduction, which in your case appears to be Rs. 7,200 at 40 pc. Dividends will be tax-free for the current year. After getting this data, compute the right figure on the above lines. You have to file tax returns even if your tax liability comes to nil after contributing to the bonds. |
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Forex reserves jump to 93.66 b Rs 100 note ONGC loan Gold rises Institute of gem |
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Having established a strong brand equity in emerging ayurvedic drug and herbal personal care market, the 73-year old Himalaya Drug Company has drawn out elaborate plans to expand its operations globally to garner a larger pie of the estimated $ 62 billion ayurvedic market.