HLL Life Care Ltd., a major condom maker in India, is working on three new male contraceptives and is being supported by the Gates Foundation, revealed HLL chairman and managing director M. Ayyappan.
Ayyappan said, "There are certain contractual obligations that we have to follow on these new products and hence we are unable to reveal more about it. The R&D work is currently on and all these three new male contraceptives would be coming out in two years' time. Starting almost 50 years back, HLL today has seven new subsidiaries and has grown from a condom manufacturer to a total health care delivery company. In the last fiscal the group turnover touched Rs. 1,678 crore, up from Rs.1,590 crore in 2013-14 and the profit after tax as per the provisional figures is Rs. 31 crore up from Rs. 25.71 crore in 2013-14."
HLL has now opened its seventh subsidiary, a management academy, to bridge the gap in providing high quality skill development course, mostly to support the growing health care industry. Ayyappan said, "Our courses are specifically designed to help students who have elementary nursing and technical qualifications and through our skill development programs, we expect to provide 10,000 new jobs in the health care sector."