Porinju Veliyath buys Kerala Ayurveda for Equity Intelligence portfolio

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Pee Vee
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Porinju Veliyath buys Kerala Ayurveda for Equity Intelligence portfolio

Postby Pee Vee » Wed Oct 04, 2017 9:04 pm

Today, 4th October, 2017, EQUITY INTELLIGENCE INDIA PRIVATE LIMITED bought 140000 shares of Kerala Ayurveda at Rs. 72.95 per share.

Kerala Ayur is in the Pharmaceuticals sector. The current market capitalisation stands at Rs 77.00 crore.

The company management includes Ramesh Vangal - Chairman, K Anilkumar - Whole Time Director, Gokul Patnaik - Vice Chairman, M C Mohan - Independent Director, S Krishnamurthy - Independent Director, Anand Subramanian - Alternate Director, Kshiti Ranjan Das - Addnl.Independent Director.

KERALA AYURVEDA LTD. (KERALAAYURVEDA) - COMPANY HISTORY

Kerala Ayurvedic Pharmacy has emerged as a frontline manufacturer of speciality patent ayurvedic medicines - tussnil, liposem and mathrukalpam. The company has drawn on the rich experience of its parent companies - Kerala Pharmacy and Pensen Drugs and Pharmaceuticals - which were merged in 1992.

The company came out with a public issue in Feb.'95 to part-finance its 7-cr expansion-cum-diversification programme which involve, expansion of its existing facilities; to develop a fully integrated health care system, cultivate medicinal plants and market ayurvedic medicines. It also envisions setting up a hospital.

A modern facility to manufacture patent medicines, tablets, capsules and syrups, is to be set up at Athani, near Alwaye. The company is in the midst of enhancing the installed capacity at its Athani plant to produce traditional ayurvedic medicines. Moreover, the company proposes to organise and relocate its twelve clinics to cover all the principal districts in Kerala and augment facilities at its clinics in Bombay, Madras, Bangalore and Mangalore. In addition, it is increasing the bed strength of its hospital in Alwaye.

Kerala Ayurvedic has won the approval of the Karnataka Toursim Development Department to open a health resort at Bangalore catering exclusively to the high income segments, tourists and NRIs.

The company has a well-entrenched presence in several states due to its 75 franchisees and 400 stockists.

During the year 1999-2000, the company exported medicines worth Rs. 56.43 lacs to USA, UK, Italy, Malaysia, Holland and Japan. Four new products have been developed during the year and intial reports are quite encouraging. Clinical studies conducted for patent products have established their efficiency and has also been affirmed by ayurvedic doctors for prescription.

In Bangalore a new Ayurvedic Health resort has started its operation in March 2001 and the trial run had a good response.The company is planning to develop new methods for rare medicinal plants using biofertilizers.

Porinju Veliyath has added Kerala Ayurveda to his portfolio. Now, whether it will become his latest multibagger pick will have to be seen.

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