Companies

MTR Foods to upgrade facility

Sanjay Sharma  

MTR Foods is all set to augment its production infrastructure at an outlay of nearly Rs.150 crore, as it gets ready to hit the Tamil nadu market with its latest line-up of masala powders.

Investment

“The investment of about Rs. 100 – 150 crore will be made over the next two years and will be largely funded through internal accruals and maybe some debt. In order to truly capture the South Indian market, we have to take the Tamil nadu market seriously. So far, our products have been made in Bangalore, to suit Karnataka’s taste. This will no longer be so now,” said Sanjay Sharma, CEO, MTR Foods Pvt. Ltd.

He was addressing reporters at the unveiling of the company’s new ‘sambar podi’, ‘rasam podi’ and ‘kulambu podi’. According to Mr. Sharma, the company is gearing up to launch a Rs.35-crore advertising and promotion campaign for the new masala powders.

“The proposed investment will be mainly used to upgrade basic infrastructure at our integrated manufacturing facility in Bangalore. While last year we clocked sales of above Rs.350 crore, we are hoping to hit Rs.450 crore this year. We are focussing on our three-pillar strategy of masala powders, spices and snacks,” said Mr. Sharma, pointing out that the Tamil nadu market was the biggest in the South at nearly Rs.720 crore. He said that the company had specifically designed the ‘pounding’ equipment required to give the new line-up its authentic taste.

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Printable version | Jan 28, 2021 12:09:47 PM | https://www.thehindu.com/business/companies/MTR-Foods-to-upgrade-facility/article12544928.ece

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