The edible oil and bio-diesel arm of Emami Group, Emami Agrotech Ltd has announced that it is targeting Rs 25,000 crore turnover in the next three years. The company is also planning to invest Rs 1,000- 1,500 crore during the same time frame to facilitate this growth.
Emami Agrotech plans to diversify its business from edible oils to broader suite of food products. It wants to be a complete food player by launching these new product categories in high-margin segments. The company is hoping to achieve Rs 20,000 crore turnover in 2021-22.
Emami Agrotech director Aditya Agarwal indicated that the company would look for entering new categories of food but not yet zeroed on anything. It is also planning to go national with spices on January 22. Currently, the spice brand is marketed mainly in eastern region.
According to him, the revenue of Emami Agrotech has gone up from Rs 10,000 crore in 2019-20 to Rs 12,000 crore in 2020-21 and has a quantum lip largely because of high edible oil prices as crude prices shoot up while also maintaining that the margins of the company have rather gone down following high crude edible oil prices.
The company has entered into the spices and soya chunks segment just before the pandemic though it now constitutes 2% of its turnover.
“Our spices plant in Jaipur will be operational by next month and by January or February we will take the spices brand national. We expect these two categories to generate a topline of Rs 200-250 crore in the next three years," said Manish Goenka, Director, Emami Group.
Emami Agrotech is also investing Rs 1000-1,500 crore in brand building and capex in next three years to achieve its target of Rs 25,000 crore turnover. The branded package sale contributes 60% of the revenue of the company.
Emami Agrotech currently has three refineries in Haldia, Jaipur and Krishnapatnam and is setting up a new unit at Kandla port along with a small unit in Mangalore.
?? ???? ?? ????? ?? ??? ???? ?? ????? ????
Click Here To Read The Original Version Of This News In English
