Mother Dairy, a wholly owned subsidiary of National Dairy Development Board (NDDB), on Thursday said it expects total turnover to touch Rs 10,000 crore by fiscal 2017-18.
“Our organisation has a vision to achieve about Rs 10,000 crore total turnover in the next financial year 2017-18,” Sandeep Ghosh, Business Head-Milk at Mother Dairy, said at a press meet in Hyderabad.
Mother Dairy had posted a turnover of Rs 7,186 crore last fiscal, out of which about 75 per cent turnover came from dairy segment, while the rest comprised of fresh fruit and vegetable and edible oil, according to Ghosh.
ALSO READ: Mother Dairy eyes revenue jump with e-tailer tie ups
He said that the expected turnover this fiscal was roughly Rs 8,500 crore.
Ghosh was in Hyderabad to launch a cow milk variant, which will be available in 500 ml pack size and is priced at Rs 20. The company sells 35 lakh litres of milk every day. Out of this, cow milk contributes one lakh litres.
The company is currently looking to foray into markets like Nagpur, Pune, Aurangabad and Nasik and also plans to expand within Maharashtra.
It will invest over Rs 130 crore to add an additional capacity of 7 lakh litres per day (LLPD) in the next 12-16 months, taking the total production capacity to 47 LLPD.
The company is already constructing a plant in Bhiwandi (Maharashtra), which will have a capacity of 5 LLPD, while a plant which is being planned in Nagpur plant will make up 2 LLPD in capacity.
The company hopes to get a mandate from the government in Nagpur to refurbish an existing facility to start production.
“We are going to get the facility on a 30-year lease. We don’t know when will we get it but with or without it, we will enter the Nagpur market by December,” Ghosh stated.
The company sells milk and milk products including ice creams, paneer and ghee under the Mother Dairy brand. It is into edible oil business under Dhara brand. Moreover, it sells frozen vegetables, unpolished pulses and other processed foods under Safal brand.