Guiltfree aims to break even by FY20, eyes `10,000 crore topline
Kolkata: RP Sanjiv Goenka Groups FMCG company Guiltfree Industries is aiming to break even in FY20 and clock revenues of Rs 10,000 crore over the next five years, a company official said Thursday.
We have a very ambitious plans to reach Rs 10,000 crore turnover in 5 years. Work is on for different things.
Turnover would come from a combination of organic and inorganic growth," RP Sanjiv Goenka group chairman Sanjiv Goenka said here.
Currently, the monthly turnover of Guiltfree is around Rs 5O crore which owns snack brand 'TooYumm' as well as Apricot Foods, e-Vita brand taken together.
Goenka claimed the company controls 3.5 per cent of western India's flavoured snacks market and expects to achieve Rs 1,000 crore turnover of Tooyum and e-Vita by June. It also expects to break even in 2019-20. Guiltfree is exporting its snacks to Dubai, Singapore, Oman and Qatar and there is a demand traction. We will look at the European Union, Malaysia etc. where a host of new launches are awaited, Goenka said.
He said the company is setting up a new plant with a capacity of 40,000 tonnes per annum in Telangana at an investment of Rs 247 crore and the facility is expected to commence operations in the second half of 2020. The current capacity is 2,500 tonnes per month across 11 facilities and a bulk of which is outsourced.