FMCG firm Cremica Food Industries is looking at a growth of up to 35 per cent in revenue for the current fiscal year riding on distribution network expansion and capacity addition.
According to a PTI report: “We are looking at an expected growth rate of up to 35 per cent in the fiscal year 2016-17. We are at around Rs 200 crore now,” Chairman and Managing Director, Cremica Food Industries Ltd, Akshay Bector said.
This will be achieved by capacity addition and expansion of the number of distribution outlets across the country, he added.
“The focus going forward is on geographical expansion and by the end of the current fiscal we will also increase the number of distribution outlets to 75,000 from the current around 50,000 outlets,” Bector said.
At present, key accounts constitutes only around 25 per cent of our revenues while 75 per cent of the revenues come from retail and hotels and restaurants/cafes, he added.
Regarding the geographical expansion the company has always been strong in north so apart form the consolidation here the growth areas will be West, South and East, he added.
“The company is also planning to open a Food Park and a tomato paste line at Una in Himachal Pradesh at an investment of Rs 100 crore,” Bector said.
“We are also planning a new facility this year, the location will be finalised next month,” he added.
Cremica Food Industries makes condiments such as tomato ketchup, sauces, sandwich spreads, mayonnaise, toppings, salad dressings and premium snack foods.