Date:28/10/2005 URL: http://www.thehindubusinessline.com/2005/10/28/stories/2005102803280800.htm

Back Bausch eyes over 20 pc growth in revenues

Nithya Subramanian

New Delhi , Oct. 27

BUOYED by the increasing acceptance of contact lenses by consumers, Bausch & Lomb Eyecare (I) Pvt Ltd is hoping to achieve a 20-25 per cent growth in revenues this year, too. The company had touched the Rs 100-crore mark last fiscal.

Mr J.P. Singh, Managing Director, Bausch & Lomb (B&L), told Business Line, "Contact lens is no longer about looks, it is now a product that improves performance." The total market for contact lenses and its solution is estimated to be at Rs 70-80 crore with B&L dominating the segment with over 70 per cent share.

Over the years, prices of contact lenses have been on a decline with a standard pair available for as low as Rs 900. While women continue to be large users, men, too, seem to be taking to wearing contact lenses. "Earlier, the ratio was 80:20 in favour of women, but, now about 35 per cent men also use contact lenses," said Mr Singh.

Also, coloured contact lenses are finding acceptance, with these accounting for 5-6 per cent of the market.

The company is also formulating a strategy for marketing contact lenses for sportspersons in the country. Internationally, it has an alliance with sports goods company, Nike for this product.

Besides the contact lens business, B&L is also focusing on making cataract surgery affordable. It has already started pilot projects in Bilaspur and Haldwani. Also, refractive surgery, popularly called lasik surgery, is another business opportunity B&L is focusing on. "After the age of 20 years, this surgery is a more long-term solution for vision correction," he added.

At present, B&L manufactures contact lenses and its solution, ReNu, at its facility in Bhiwadi in Rajasthan. "At the moment, we are exporting to other South-East Asian countries as well as China." But, the company does not have any major expansion plans in the near future, he added.

B&L had some years ago delisted from the stock exchanges in the country. Mr Singh said that there are no immediate plans of entering the capital markets in the near future.