Business

Britannia eyes ₹500 crore from 3 new snack products

Plans to raise share of non-biscuit segments in turnover

Britannia Industries Ltd. (BIL) is aiming to generate ₹500-crore turnover from three new non-biscuit snack products it launched recently, Jayant Kapre, Business Head, Adjacencies and New Business, said.

Talking to The Hindu after the launch of Treat Croissant, a centre-filled snack made under joint venture with Greek company Chipita, he said, “The new products are cream-wafers, salted snacks and croissants. We are looking at a turnover of ₹500 crore [from nil now] in three years,” he said.

The company is trying to increase the share of non-biscuit segments in its turnover. While biscuits account for about 70% of BIL’s turnover, non-biscuit products such as cakes, rusk, bread and dairy have a share of about 23%.

‘Total foods company’

“We have laid out a vision for becoming a total foods company and are planning to get into some targeted spaces,” Mr. Kapre said.

BIL has put ₹100 crore on the ground for these facilities, according to Mr Kapre. While salted snacks are made in BIL’s unit in Bengaluru, croissants are made in Ranjangaon in Maharashtra. Cream-wafer manufacturing has been outsourced.

The national roll-out of these three categories would be completed soon, the company said. BIL has launched baked multigrain chips in its renewed bid to penetrate the salted snacks market. It made an entry about eight years ago, but withdrew shortly thereafter. “We learnt some lessons there,” Mr. Kapre said.

He indicated that BIL was evaluating other sub-segments through differentiated offerings, but was unwilling to divulge further details.

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Printable version | May 25, 2020 3:38:09 PM | https://www.thehindu.com/business/britannia-eyes-500-crore-from-3-new-snack-products/article26750092.ece

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