Anmol Industries said that though biscuits industry remains revenue neutral in the new taxation regime, the company was moving ahead for pan India presence by the current fiscal ending March 18.
“Goods and services tax is revenue neutral for the biscuits industry. We are going ahead with plans to have our footprint in West and South India by this fiscal to have pan India presence,” Managing Director, Anmol, Bimal Kr Choudhary was quoted by PTI as saying.
According to a PTI report: The company said they are currently restricted in the east and northern markets of the country and enjoys seven per cent market share in these markets.
“We have seven per cent market share in the markets we are operating but on national ranking we are fourth with 4.8 per cent of share in the Rs 28,000 crore industry,” Chief Marketing Officer Ranendra Nath Ojha was quoted by PTI as saying.
Andhra Pradesh, Telegana, Maharashtra and Karnataka are the states were the company will foray in the next few months.
The company that began its journey in 1994 from Dankuni in West Bengal has now seven plants with the latest one in Bhubaneswar in Odhisa ramping its production capacity to three lakh tonne per month.
The Rs 135 crore plant in Odisha will help us to expand in the state and foray into southern states, Ojha said.
Buoyant with entry into newer market, Choudhary said the company was targeting Rs 2,000 crore turnover by 2020 The company did not ruled out an initial public offer in future.