Bausch & Lomb India is optimistic of a growth of 10 to 11 per cent in the current fiscal despite Goods and Services Tax(GST) that has impacted sales for the last two months. “We are expecting to grow in India by 10-11 per cent in 2017 to about Rs 270 crore business,” Bausch & Lomb India managing director, India & Saarc, Sanjay Bhutani told PTI. He said, though GST is expected to offer ease of business in the long run but in June and July sales have been impacted by 30 and 40 per cent respectively. The company expects it will take some more time before things gets settled. “We are still grappling with the issue of composite and registered dealers. Due to this dealers are not comfortable in lifting stocks to the extent they can,” Bhutani said.
Out of three major business lines of the company, lens care (lens solutions) accounted for almost two-third of its India sales. GST impact in this segment is 11-12 per cent, the company sources said. Bausch & Lomb has a marketshare of 80 per cent lens care marketshare in the country and in overall visoncare it commands 60 per cent, Bhutani claimed. The company is focussing on new launches to remain ahead of competition in the country and has launched an economy version in intraocular lenses (IOL), which is expected to deliver additional gain in marketshare by three to four per cent from the present 10-11 per cent in IOL market, he added.