Skip to main content

Saj Food Products eyes Rs 5,000 cr revenue in five years

The Kolkata-headquartered company, which owns Bisk Farm’ brand, is likely to close the current financial year with a revenue of around Rs 2,100 crore

Kolkata: Biscuit maker Saj Food Products, which is expecting to touch a revenue of Rs 2,500 crore in the 2023-24 fiscal, is eyeing at Rs 5,000 crore turnover in five years, a company official said on Tuesday.

The Kolkata-headquartered company, which owns Bisk Farm’ brand, is likely to close the current financial year with a revenue of around Rs 2,100 crore.

“We are aiming at Rs 5,000 crore of revenue in the next five years. The company expects to touch a turnover of Rs 2,500 crore in the next fiscal,” Saj Food Products managing director Vijay Kumar Singh told reporters here.

The biscuit maker is trying to expand its distribution network in the east, south and north of the country for achieving a higher revenue next fiscal, he said.

The company, currently, has six plants – four in West Bengal and one each in Nagpur and Bangalore.

“We are building our new plant in Guwahati at an investment of Rs 200 crore and it will be operational by the January-March quarter of 2024,” Singh said.

The company has plans to ramp up its distribution presence in 23 states of India and also in Bhutan and Nepal, he said.

Eastern states contribute to nearly 80 per cent of the company’s annual sales, he said

According to him, Bisk Farm’ brand is the fourth biggest nationally after Britannia, Parle and Sunfeast of ITC, with a market share of four per cent.

The company is growing at a CAGR of 15 per cent for the last five years, Singh said, adding that “this year the volume growth will be around 12 per cent”.

“We also plan to go for an IPO (initial public offer) after crossing Rs 5,000 crore revenue in the next five years. Our investments so far have been from internal accruals and the company is practically debt-free”, he said.

With biscuits contributing to the bulk of the business, the company had also launched a food brand ‘Indiaah’, which is growing fast.

Saj Foods has retail stores – ‘Just Baked’ presently across West Bengal, with plans to set up one in Bangalore.

“We plan for organic growth and we may go for acquisition for either a distribution-strong or product-strong company in future,” Singh said.

The overall plan is to become the third largest player in the country, he added.

The post Saj Food Products eyes Rs 5,000 cr revenue in five years appeared first on India Retailing.



from India Retailing https://ift.tt/DBUviK6
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Eagle Labs launches impirica CBD brand

ST. PETERSBURG, Fla. — Eagle Labs has launched impirica, a new brand of CBD intended to eliminate consumer fear, and increase confidence, in trying the exciting new cannabidiol category. Michael Law Although most Americans have now heard about CBD, many are very confused and concerned about product quality. This is inhibiting trial in the category and holding back conversion into sales. In fact, a 2017 study by Johns Hopkins University found that two out of three CBD products on the shelf did not contain the amount of CBD reflected on the label. Furthermore, in 2018 and 2019, the FDA sent notices to a substantial number of CBD manufacturers advising them of serious concerns about product quality or egregious medical claims. The impirica brand looks different than most CBD brands — the brand name itself connotes testing and trust, says Eagle Labs chief commercial officer Michael Law. “It doesn’t use the traditional category colors of browns and greens, and you won’t find a hemp...
70 comments
Read more

Sagar Daryani, CEO and Co-founder – Wow! Momo & Saga: From a Kiosk to a Kingdom

Sagar Daryani’s entrepreneurial odyssey from humble beginnings to pioneering success has redefined the landscape of food startups in India. Co-founding Wow! Momo, he has spearheaded the growth of the largest indigenous QSR chain in the country, crafting a remarkable saga of triumph The Genesis: A Visionary Venture Takes Root In 2008, armed with a mere Rs. 30,000 and boundless ambition, Sagar Daryani and Binod Homagai embarked on their entrepreneurial journey while still pursuing their graduation in B.Com Hons from St. Xavier’s College, Kolkata, even before their college results were out. They knew the value for money and boot-strapped to plough back profits and grow their venture. Sagar spearheaded brand expansion, brand creation, and marketing and retail operations. Grew across the city with a strong consumer focus. The early days were hard but keeping track of the money flow was even harder. Believing in the concept of ‘1 rupee saved is 5 rupees earned’, and the lessons they lear...
1 comment
Read more

Homegrown ice cream chain HOCCO to open 250 stores, eyes Rs 400 crore by FY26

Ankit Chona, Founder and Managing Director of HOCCO, delves into the company’s revenue model, growth strategies, and vision for the future… Bengaluru: HOCCO (House of Chonas Collaborative) , the Ahmedabad-based ice cream and quick-service restaurant (QSR) chain, boasts a rich legacy spanning over 70 years, with roots tracing back to pre-independence India. The Chona family has been deeply entrenched in the food industry since 1944, originally operating in undivided Pakistan. Following the Partition, Satish Chona , an engineer with British Overseas Airways Corporation, relocated from Karachi to India. After journeying through multiple cities, he ultimately settled in Ahmedabad, where he established his first QSR outlet in 1953. Three decades later, he expanded into the casual dining segment, launching a restaurant in Baroda while continuing the family’s ice cream manufacturing business. However, in 2017, the company sold its ice cream division to a South Korean firm, shifting its fo...
Post a Comment
Read more