Prabhat Dairy Ltd., a leading milk and dairy products company, unveiled its Vision 2020 with a target to achieve revenue of ₹2,000 crore as compared to ₹1,410 crore (PAT ₹47 crore) in FY17.
“We have been a dominant player in the institutional segment for last 17 years. Now we have decided to enhance our retail focus,” said Vivek Nirmal, joint MD, Prabhat Dairy. “From the current retail revenue of ₹500 crore, we plan to double it in 2020. This will help us achieve our target.”
To meet its growth target, the company planned to expand the product portfolio and national footprint, Mr. Nirmal added.
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“We are now present in 26 States and one lakh retailers sell our products. We want to expand it to 2 lakh retailers and penetrate deep into north, western, central and eastern India markets,” Mr. Nirmal said.
Currently, the company manufactures fresh, dry, frozen, cultured and fermented dairy products, including pasteurized milk, flavoured milk, sweetened condensed milk, ultra-heat treatment (UHT) milk, yoghurt, dairy whitener, clarified butter (ghee), ice-cream, milk powder, ingredients for baby foods, lassi and chaas under the brand ‘Prabhat’.
Now it will focus more on increasing the share of value added products like Cheese, Paneer, Shrikhand, Curd, Ice-cream, Flavoured & UHT Milk, Mr. Nirmal said.
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Logo unveiled
The company on Tuesday unveiled its new corporate identity and a new logo which indicates its customer focus. Under the new logo, the company will introduce variants of tetrapack milk.
It is also planning to commence exports to the SAARC countries.