Britannia Industries is looking at acquisitions and expansions into new geographies, launching a new logo to commemorate the company’s centenary.
“We have now got a very strong foundation not only in terms of financials but in terms of a management team. We are on a very strong footing and now in a position to look at adjacencies,” Chairman Nusli Wadia said at the company’s Annual General Meeting.
He stressed that the strategy will be based on “growing the company substantially” and expanding into new geographies.
The company, which has a presence in more than 79 countries, is in the process of opening a plant in Nepal, where it has already become the market leader after its recent entry. It is also eyeing expansions across West Asian and North African markets.
Managing director Varun Berry said this year more than 50 products will be launched to celebrate 100 years of the company.
The company is already in the process of launching croissants and has partnered with Greece-based Chipita for this endeavour.
The company has set a target to evolve into a complete foods company rather than limiting itself to biscuits, cakes, rusks, cakes and dairy products.
Wadia said that despite the demonetisation exercise and GST woes in the last financial year, the company “hit every single target”. It had set a target to sell 50 million packs every day, churn a Rs 100 billion topline with a Rs 15 billion gross profit and Rs 10 billion net profit.