RP Sanjiv Goenka Group eyes Rs 1,000 cr annualised revenue from FMCG
The group entered the FMCG space with the brand "Too Yumm!" and according to him, the brand, in the span of 17 months, is 3.5 per cent of the western snacks market already.
Addressing a press conference here on Thursday, Goenka said FMCG business sales is already Rs 600 crore on an annualised basis, will cross Rs 800 crore by March next year and Rs 1,000 crore by June 2019. He said the company has already cornered 3.5% market share of the western snacks market.
“We will have presence in multiple FMCG categories and pursuing both organic and acquisition opportunities. We have a direct retail presence in 4.5 lakh outlets and adding 30,000 new outlets every month,” said Goenka.
It is setting up a R&D facility in Thane which will be operational by February 2019. This facility will undertake new product development for snacks, bakery, personal care products and undertake analytics.
The group had last year acquired majority ownership in Apricot Foods which sells the snacks brand ‘e-vita’, while has organically launched the brand ‘Too Yumm!’.
Goenka said it is setting up a new plant in Telangana at an investment of Rs 247 crore over 27 acres which will have capacity of 40,000 tonnes per annum. The facility will employ 700 people and is expected to commence operation in the second half of 2020. It already has two owned plants in Rajkot and Hyderabad.
RP-Sanjiv Goenka Group has started exports of packaged snacks in Singapore, Dubai and Qatar and Goenka said more markets will be added soon.