Innovative Foods Ltd, the firm behind Sumeru brand frozen food product range, is setting up a manufacturing facility in Chittoor as part of plans to grow retail presence and revenue.
Commercial production at the plant in Andhra Pradesh will begin by December, a senior executive said on Monday, adding that there is growing acceptance of frozen food in the country.
With the new facility, manufacturing capacity of the company would double to 600 tonnes. It will be the second facility for Innovative Foods, whose existing facility is located in Kochi.
Vice-president (Sales and Marketing) Saurabh Kumar, speaking at the launch of four new variants of parathas in Hyderabad, said the Sumeru brand ready-to-cook vegetarian and non-vegetarian products were available in 200 towns. The company was keen on taking the products to tier-II towns on the back of modern self service retail stores expanding to such locations. The ready-to-cook food products market in the country is around ₹800 crore and expected to double in five years, he said.
Besides marketing in the domestic market, the company also exports the products to several countries, including the US and Japan, he said. Innovative Foods, he added, was eyeing a turnover of ₹1,000 crore in current fiscal and ₹2,000 crore in the next financial year. The new variants of parathas, he said, are beetroot, jeera turmeric and ajwain, methi, spinach and multigrain paratha.
