Mumbai-based Prabhat Dairy is targeting to achieve a turnover of Rs 2,000 crore by the end of 2020 on the back of increasing focus on introduction of new products and entry into newer geographical locations. The company had a turnover of Rs 1,409.87 crore last fiscal.
The company also plans to increase the share of its consumer business to 50 per cent by 2020 from the current 30 per cent.
The growth will majorly come from introduction of new value-added products, one of them being the long shelf life products. The company will be launching a host of products in ultra-high temperature (UHT) segment namely UHT cream milk, butter milk etc. apart from cheese, paneer, shrikhand and curd etc., that will help them expand their geographical presence.
The company, which unveiled a new corporate identity and a logo, aims to achieve a revenue of more than Rs 100 crore from UHT products alone.
Further, Prabhat Dairy plans to enter regions like the North and Central India. By the end of FY 2018, the company plans to enter in various Northern, Eastern, Western and Central Indian markets, mainly Tier II and Tier III towns with higher disposable incomes. The company will also be entering the Delhi market and have already made a soft launch with ghee.