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. PTI dc BDC BDC
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