Mumbai, 8th June 2015:
In advent of the court ruling and its compliance, Piramal Enterprises will be changing / renaming the brand name of its Ovulation Test Kits. Henceforth, “i-know” brand name will be adopted for the company’s product for Ovulation Test Kits.
PEL has already stopped billing of the old brand name and the transition will be completed by 25th August, across the entire spectrum of sales, marketing and operations.
We shall take all necessary steps to minimize the impact on all our stakeholders and consumers and are confident of cooperation from our distributors and channel partners
As an organization we have always fully complied with all the regulatory requirements, and our endeavor is to do the same in the current situation.
The new brand name represents the USP of the product. i-know is the first of its kind ovulation test kit in India. The detection kit helps women know the 2 most fertile days of every month the time when she ovulates. i-know empowers a woman with the knowledge about her fertility window which equips her to plan during this predetermined fertile phase and optimize her chances of conception. i-know is an extension of the ‘i’ range which includes i–can and i-pill under Piramal’s extensive portfolio.
Currently, the brand contributes to less than 1% of consumer products sales and will have negligible impact on the financials of Piramal Enterprises.
The Consumer Product division is one of the fastest growing players in the Domestic Consumer Healthcare Market. The leading brand in the portfolio includes Lacto Calamine range (Moisturizer, Sun-Shield, Renue), I products (i-pill, i-know, i-can), Saridon, Supractiv Complete, Polycrol, Tri-active, Itchmosol, Jungle Magic (Perfumes, Banditz, Sanitizer & Lunch Packz), Tetmosol, Caladryl etc. The distribution footprint has been expanded to cover all the 481+ one lakh plus population towns across the country to ensure that the products are available at the nearest Chemist/Cosmetic Outlet on time - in full.
Piramal Enterprises Limited (PEL) is one of India’s large diversified companies, with a presence in healthcare, healthcare information management and financial services. PEL’s consolidated revenues were over $ 830 million in FY2015, with approx. 70% of revenues from outside India.
In healthcare, PEL is one of the leading players globally in CRAMS (custom research and manufacturing services) as well as in the critical care segment of inhalation and injectable anaesthetics. It also has a strong presence in the OTC segment in India. The Molecular Imaging Division was formed in 2012 with presence in Europe and USA.
PEL’s healthcare information management business, Decision Resources Group, is amongst the top 20 US market research organizations which provide information services to the healthcare industry.
In financial services, PEL, through its Piramal Fund Management Division, provides comprehensive financing solutions to real estate companies. Its Structured Investments Division invests in various sectors including infrastructure. The total funds under management under these businesses arearound $ 2 billion. The company also has strategic alliances with top global pension funds like CPPIB Credit Investment Inc. and APG Asset Management. PEL also has long term equity investments worth over $ 700 million in Shriram Group, a leading financial conglomerate in India.
PEL is listed on the Bombay Stock Exchange and the National Stock Exchange in India.