The healthcare PSU has repeatedly failed to meet turnover targets and sale of some of its popular products has also come down in the past few years
GN Bureau | August 6, 2016
The Comptroller and Auditor General (CAG) of India has heavily criticised the central public sector undertaking (PSU) HLL Lifecare Limited, which makes and markets a range of health care products. In its latest report to the health ministry, it said that the company has been making poor marketing policies, repeated failure in meeting turnover targets, loss in sales of its popular products over the past few years, according to report by DNA.
CAG has also criticised the company for being heavily dependent on a single buyer – the central government, where it faces long pending subsidy claims and supplies products in a negative margin.
The report also notes that there is a steep decline in sales of some of its products including popular condom brand Moods, calcium tablet HILCAL 500 and the antifungal medication HILZOL.
It said all this happened while HLL offered cash and quantity discounts to its clients in a bid to increase its turnover and that the company carried on the sales of the products without a proper pricing policy.
The report states that all domestic divisions of HLL failed to achieve respective targets in the past two years. Also the PSU has not evolved any “distinct, separate and documented marketing policy”, it did not charge any interest for delayed payments and had an outstanding of Rs 86.39 crore as on March 31, 2015, from clients under direct marketing and exports.
CAG also criticised the company’s decision to finance the export of iron ore from Bellary to China, where it made advance payments without obtaining adequate security.
Maya Kodnani, a BJP leader who was the MLA from Naroda when this locality on the outskirts of Ahmedabad witnessed one of the most gruesome episodes during the Gujarat riots of 2002, was acquitted by the Gujarat High Court on Friday. Her acquittal in the Naroda Patiya massacre case is only a sequel to
The number of civic complaints with BMC has increased from 61,910 in 2015 to 92,329 in 2017, which is 49% in two years. A report titled ‘Civic Issues Registered by Citizens and Deliberations done by Municipal Councillors in Mumbai’ released by Praja Foundation has found some interesting facts a
Atishi Marlena is among the nine AAP functionaries who were dismissed by the union home ministry asserting that their posts were created without the approval of the centre. Marlena, served as education advisor of the Aam Aadmi Party (AAP)-led government in Delhi. While she was intrumental in improving the
The Fortune magazine has named three Indians – lawyer Indira Jaising, industrialist Mukesh Ambani and architect Balkrishna V Doshi – among the world’s greatest fifty leaders.
Remember Kardashev scale? For the uninitiated, it’s a method of measuring a civilization’s level of technological advancement, based on the amount of energy it is able to use for communication. We will get to its unconventional relevance to the big urban questions at the end, but just keep it a
Out of 1580 MPs and MLAs with criminal cases, 48 (three MPs and 45 MLAs) have declared cases related to crime against women. The Association for Democratic Reforms (ADR) and