RP Sanjiv Goenka Group is expecting to clock an annualised revenue of Rs 1,000 crore from its FMCG business by June next year, an official said on Thursday.
“Monthly turnover from FMCG business is around Rs 50 crore and I think, we should be at Rs 70 crore by March and Rs 90 crore by June,” Group’s Chairman Sanjiv Goenka told reporters here.
He said the “annualised revenue” is expected to be Rs 1,000 crore by June from the current annualised turnover of Rs 600 crore.
“We started exporting our products to Dubai, Singapore, Oman and Qatar,” he added.
The group entered the FMCG space with the brand “Too Yumm!” and according to him, the brand, in the span of 17 months, is 3.5 per cent of the western snacks market already. The Kolkata-headquartered company had acquired E-Vita brand.
Goenka said the group is hoping to get Rs 10 crore on a monthly basis from the newly-introduced “Karare”.
The group’s FMCG company — Guilfree Industries — is sourcing products from four locations across the country and has its own two manufacturing plants at Rajkot and Hyderabad.
He said the company is setting up a new plant with a capacity of 40,000 tonne per annum in Telangana at an investment of Rs 247 crore and the facility is expected to commence in the second-half of 2020.