Kwality eyes to become Rs 100 crore company

Kwality, the manufacturer of masalas and instant mixes from the house of Pagariya Food Product, aims to become a Rs 100-crore company by 2020.

"We closed the last fiscal with a turnover of Rs 40 crore. We want to take this to Rs 100 crore," Naresh Pagariya, MD of Pagariya Food Pvt Ltd, said at the launch of its wide range of breakfast cereals here on Thursday.

The company, which has its presence in the South, wants to become a pan-India company in the next two to three years.

"The size of breakfast cereals in the country is pegged at Rs 2,500 crore, and it is growing at a CAGR of 27-28%. It is expected that it will touch Rs 4,000 crore by 2020, as we are witnessing growth every year in this category. We are aiming to grow by over 100% in the next few years and we want to become one of the top 5 breakfast cereal companies in the country," Pagariya said.

The breakfast cereals come in three categories - the adult range; health range; and children range. "Each of these is a combination of various grains like wheat, ragi and oats that come in unique flavours. Also, we have introduced small packs of Rs 5 and Rs 10, so as to reach people in Tier-II and III cities," he said.

In addition to the new cereals, Kwality has repackaged its entire range of breakfast cereals. "Apart from upgrading our existing products, we are also working on a lot of new products like multigrain flakes and healthy snacks. At present, we have over 400 distributors and we cover over 25,000 retail outlets, and we want to take this to 40,000 retail outlets," Pagariya said.

It has more than 55 products in 130 different pack sizes, and it exports to 20 countries like the Maldives, Sri Lanka, Nepal and the US, among others. "Exports contribute 10-13% of our total revenues, and we are seeing a good market in the Middle East, Thailand and Malaysia," he said.