The company specialises in the manufacturing of ayurvedic aromatic oils. The products are sold under the brand name Neoveda.
HVM Network Private Limited established in the year 2000. The company specialises in the manufacturing of ayurvedic aromatic oils. The products are sold under the brand name Neoveda. The products are made from essential oils and are used mainly in making various skin care products, stress relieving products and moods uplifting besides others. The essential oils are obtained from seeds, flowers, leaves, wood or roots. The company supplies its products to beauty salons, high end stores and hotels. The company is headquartered in New Delhi.
The product range includes aura oils for skin care; mood oils – blends with jojoba oil; rejuvenate oils – pure blends or with carrier oils; freshener oils – pure blends or with floral waters; rejoice oils – pure blends; love oils – blends with almond oil; meditation oils; and aroma soaps. The products are essentially aromatic massage oils and aromatic skin oil, which are helpful in reducing acne, pimples, pigmentation, dry and rough skin, swelling and puffiness, wrinkles, anxiety and stress level, hangover, cough and cold. From among its product list, glycerine soaps made of pure essential oils is the fastest selling product.
Speaking about the market in India for ayurvedic cosmetics, Mr. Mahesh Kumar Modi, proprietor says, “The market is very big in India. However, the export market is also very big, and 15 % of our business comes from exports, and the market is picking up.” The company exports the products to France, HK, Holland, Maldives and US.
When asked about the specific advantages the company’s cosmetics enjoyed over similar products offered competition in the market, Mr. Modi says, “The products are made of pure essential oils. Our products are also very price competitive and we are importing packaging material which is not that great in India.”
The company has its own processing units, where the company manufactures and distills essential oils and blends and skin and hair care products. The company has two manufacturing units – one in Parwanoo and the other Noida. The company has made a total investment of almost USD 200,000 in plant and machinery till date.
The company has an R&D team, which works on the products. HVM Network procures all raw ingredients from well established, reputed suppliers alongwith lab reports. They do not have any contract farming arrangement with farmers.
The company clocked an annual business turnover of Rs.3 crores (USD 700000) in the last financial year. “We get maximum business from Tamil Nadu in the domestic market and France in the international market,” maintains Mr. Modi. “Geniune herbal cosmetics are costly and India is a very price sensitive market,” he adds.
Comparing the state of herbal technology in India with the technology in advanced countries, Mr. Modi says, “Ayurvedic/ herbal technology is better in India,” adding, “What we lack is quality packaging.”
Mr. Modi is BE (mechanical) by educational qualification. He started his career in textiles as MD of Modi Spinning and Weaving Company and ED Modi Flour Mills. “Because of my interest in nature, I started essential oils and skin and hair care business alongwith my wife Mrs. Bharti Modi,” he says. Mr. Modi also has a mushroom cultivation and processing unit.
Our correspondent [/hidepost]