Latest News | Adani Wilmar Ltd Aims Rs 50-75 Cr Revenue in 5 Yrs from Ready to Cook Category
Get latest articles and stories on Latest News at LatestLY. Agri commodity major Adani Wilmar Ltd has strengthened its ready-to-cook (RTC) business with new soya chunkies to ramp up the business category to Rs 50-75 crore over the next five years, a top company official said on Wednesday.
Kolkata, Oct 7 (PTI) Agri commodity major Adani Wilmar Ltd has strengthened its ready-to-cook (RTC) business with new soya chunkies to ramp up the business category to Rs 50-75 crore over the next five years, a top company official said on Wednesday.
Ready-to-cook is already a Rs 2,100 crore business and projected to expand to Rs 4,800 crore by 2024 backed by a CAGR of 18 per cent, market intelligence agencies had said. The category is divided into meat and non-meat while noodles account for a large chunk in the RTC total sales.
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At an affordable price of Rs 15, five minute soya chunkies has been launched in three exciting flavours--Mexican Salsa, Chinese Manchurian, and African Peri Peri, and the company will pilot the product in West Bengal first before scaling it to pan India after 3-6 months, the official said.
"Mothers have a tough task to include nutrition into their kids snacking moments. What is tasty is not healthy, and vice versa, a need of the hour in these times. With soya chunkies, we have addressed the needs of taste as well as health. Soya chunkies contains 10 times more protein than milk," Adani Wilmar head marketing, Ajay Motwani said.
Adani Wilmar which is creating new niche segment in the category with desi veggie variants of super foods, claims it will take time to turn a sizeable business but expects RTC will contribute 5 per cent of new products of new categories introduced by the company.
"We expect at least Rs 50-75 crore revenue from RTC in the next five years, Motwani told PTI.
Adani Wilmar had launched Khichdi in a few variants about a year back in the state and in the last six months it was doing well, he said.
But, Motwani said the company was looking at more variants and new price points for greater penetration but continue to primarily target at the urban market.
India is a market of about 4000 tonne per month raw soya chunk market.
Adani was looking forward to greater value addition in their commodity business to improve margins, he said.
"We have a pipeline of products in this segment and will be launched in a phased manner," Motwani said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)