Best Foods, one of the leading players in the packaged rice segment in India is planning an aggressive expansion to strengthen its position. The company aims to increase its retail presence through standalone Best stores and take the store count to 800 in next two years across the country from the current 38 stores across high footfall areas in Delhi and NCR. The brand is also available in retail through more than 2000 modern retail formats (MRF), which are spread across 200+ cities.
With an increase in demand for basmati rice due to factors, such as increase in domestic prices and exports, Best Foods is targeting a top line of Rs 5000 crore in FY 2016. The company has grown considerably over the years with sales growing from Rs1000 crore in FY 05 to Rs 2600 crore in FY14.
Dr Aayushman Gupta, CEO, Best Foods, says, “Today we are amongst one of the leading rice players in the domestic market, churning out a turnover of Rs 2600 crore. With an increase in demand for our brand in the domestic and international markets, we strongly believe that we will be able to achieve our target of Rs 5000 crore by FY 16. Our flagship brand Best is among the top five brands in the domestic market today. Currently we are leading the trade and retail market, and will be expanding our exclusive retail stores pan India”.
Best Foods has a state-of-the-art manufacturing plant and facility in Karnal, Haryana, including 17 modern rice mills, which are fully equipped with advanced technology machines with an installed capacity to produce/process 45000 metric tons (MT) of processed rice per month. The basmati processing capacity has touched a remarkable figure of 149 MT per hour. “All our plant facilities are HACCP, BRC and ISO 22000 certified. Best Food has commissioned two bio-mass based power plants of 6 MW and 4 MW power generation capacity, which are environment friendly,” informs Gupta.