MTR Foods growth plans
MTR Foods, announcing its future plans in the City on Tuesday, said that it has been sharpening its focus to grow into a diversified food company within next six years.
The company plans to double its turnover to Rs 500 crore and treble profits by the 2012 end.
MTR Foods CEO Sanjay Sharma said “MTR plans to revitalise the brand to drive growth and shift from being focussed only in South India, to using market support and innovation to become a pan India brand.” The company plans to widen its base in the south and tap rural areas in Karnataka and Andhra Pradesh. It also plans to launch new products and leverage on current portfolio laying emphasis on popular categories like instant mixes and ready-to-eat dishes.
MTR Foods Chairman Paul Jordahi said “We plan to refocus and leverage MTR brand as authentic Indian vegetarian food brand. We plan to broaden distribution food point from regional to national-level and identify opportunities in product portfolio.” The company has relaunched MTR brand after redesigning its packaging and invested Rs 15 crore for capacity expansion of spice plant from 5,000 metric tonnes to 14,000 metric tonnes. In addition, Rs 25 crore has been invested in diversification into beverage segment.
The exercise was aimed at ensuring greater appeal to changing preferences of consumers, especially women. While the package would be white in colour for ‘MTR Daily’ (daily food items like upma and idli), it would be red for ‘MTR Delight’ (festive delicacies), Sharma said.