Syncom: Scaling new heights

Syncom Healthcare has found Uttarakhand lucrative for its business in upcoming years. The company has therefore chosen to build a manufacturing plant in the state after it was declared as the tax holiday for pharmacos. "The tax holiday for the coming period of 10 years will make our products price competitive. This will enable us to market our products extensively and grab a substantial market share," opines Ajay S. Bankda.

Crossing Hurdles

However, dwelling in a new area has not been an easy task for the company and it has faced its own set of challenges to emerge as a winner. "The major short coming in Uttarakhand is non-availability of technically competent manufacturing personnel and consistent power supply," says Ajay S. Bankda.

However, the company was poised to meet these challenges.Syncom Healthcare established a training cell to meet the demand of technically competent staff. "Our training cell works in order to continuously update knowledge and skill levels of our existing staff," tells Ajay S. Bankda. The company also worked towards the problem of power supply and installed a power generation unit to meet its requirements of power. However, the company complaints that it has added to the running cost.

Operations

Syncom Healthcare is operating in the field of manufacturing and marketing of pharmaceutical specialities including tablets, capsules, liquid, orals, eye or ear drops, oral dry powder (non-beta lactum), ointments and creams, protein preparations and external preparations. The company feels marketing tie-ups is a good opportunity to drive growth and reach out to larger area but the company is more focused on building its own identity. "Marketing tie-up is of course is a good opportunity for expanding the business and achieving a consistent growth rate, but at Syncom Healthcare, we believe in building our own brands," declares Ajay S. Bankda.

Success Mantra

The company has build its own brands and its own marketing teams which are the support system of the company. The company plans to fight out stiff competition from majot Pharma players in the area with this. "Our major strength is our marketing network and people," says Ajay S. Bankda. The company has developed a strong team which includes a network of about 150 distributors, 2500 stockists and more than 200000 retailers and doctors on our customer list. Besides, this network is also regularly covered by over 450 field personnel who are committed to the business.

Plans ahead

The company has set high targets for itself and is all set to achieve them. The company is expecting to touch the gross sales of Rupees 4800 lakh in this fiscal year with operating profit of Rupees 700 lakh. To achieve these targets, Syncom Healthcare has expanded its manufacturing base along with a huge expansion in the product range as well as in the total territorial coverage.

"Due of the excise advantage, we believe that we can make super- speciality products available at a much economical rate as compared to the other companies," says Ajay S. Bankda. The company is also eyeing export potential through merchant exporters as well as global tenders.