Prabhat Dairy is targeting Rs 2,000 crore revenue by the financial year 2019-20, by enhancing its consumer segment to 50 per cent of the total business.
“In FY17, we had posted Rs 1,409.87 crore revenue, with 70 per cent of our business coming from dairy ingredients and 30 per cent from the consumer segment. Going forward, we are planning to increase our consumer business to 50 per cent or Rs 500 crore to take the total revenue to Rs 2,000 crore by FY20,” Joint Managing Director, Prabhat Dairy, Vivek Nirmal told PTI.
According to a PTI report: For this purpose, the company today launched a new corporate identity and a logo and will work towards expanding its presence in the retail category and firm up the scale in institutional business.
“We need to be a vibrant brand and we are working on brand building. With the all-new identity and the logo, Prabhat Dairy will be able to stand out more as a milk expert company, which will help us leverage our whole milk, food portfolio,” Nirmal was further quoted by PTI as saying.
The company is also planning to expand its product portfolio and national footprint to enter into lucrative markets across India.
“We are planning to introduce lassi, fresh cream and butter milk to our product portfolio. We are also working on products like ice cream and milk shakes that we we expect to launch next year,” he told PTI.
The company manufactures fresh, dry, frozen, cultured and fermented dairy products, including pasteurised milk, flavoured milk, sweetened condensed milk, ultra-heat treatment (UHT) milk, yogurt, dairy whitener, clarified butter (ghee), ice-cream, milk powder, ingredients for baby foods, lassi and chaas (buttermilk) under the brand Prabhat.
Prabhat Dairy, which has a presence in 26 states and two Union Territories, is planning to strengthen its brand presence in those markets by increasing its retail reach to two lakh stores from the current one lakh.
The company is planing to begin exports to the South Asian Association for Regional Cooperation (SAARC) countries, Nirmal said.
“At present, we export cheese and cow ghee to the Gulf countries, Bhutan and Sri Lanka and will ship the same products to the SAARC nations as well,” he was quoted by PTI as saying.
The company, which procures 10 lakh litres of milk, will add four lakh litres more to support the product and market expansion, Nirmal added.