The company is reportedly looking at a spend of around Rs20 crore for the planned acquisitions, and is reported to be evaluating options both in India, as well as overseas.

The company has strong product dependency, with around 80 per cent of Amrutanjan''s revenues accrue from the sale of its standard yellow pain-reliving balm, and the Amrutanjan Strong balm. This single product dependency is what the company would most probably like to address with potential acquisition of other brands, and a diversification of its product portfolio.

Amrutanjan is also mulling the launch of two new offerings, an olive oil under the brand name ''Cutis'', and an organic home insecticide, Orange Guard, over the next few months. The olive oil will be imported from Greece, and sold under the brand name in the country.

The domestic market for olive oil is estimated at Rs200 crore, and is reportedly growing at 18 per cent per annum. Amrutanjan is reportedly looking to secure a 10-per cent share in about two years, through retail as well as bulk sales to hotels and other bulk users.

For the insecticide venture, Amrutanjan has reportedly entered into an agreement with US-based Orange Guard, which will see it import and market the organic insecticide brand in India.

Orange Guard is a water-based organic insecticide, is non-toxic, and can be sprayed in the vicinity of food and pets, unlike available insecticides, according to company sources.

A look at Amrutanjan''s annual report reveals plans to enter into product lines such as mosquito repellent cream, back ache gel, hand sanitizers, energy capsules, hot and cold multipurpose gels for arthritis and muscular pains, and anti-stress formulations. However, company sources indicate that the pain management category is likely to have key focus, owing to the brand equity the company has in the segment, along with plans to strengthen distribution in northern India.

The company distribution currently includes tie-ups with around 1,800 distributors, supplying to around 4.5 lakh retailers, mainly in South, West and East India. Amrutanjan has reportedly planned a spend of Rs12 crore for brand building, alongside domestic promotion of its product portfolio, and localised marketing in South Asia, Africa and Gulf countries.