MTR Foods eyes 3-fold spike in revenues

Ready-to-eat brand MTR Foods on Friday said it is expecting a near threefold jump in its revenues to Rs 1,000 crore in the next three years.

The wholly-owned subsidiary of Norwegian Orkla Group, MTR reported Rs 350 crore in revenues in 2011. "Our aim is to mainstream MTR Foods as a culinary expert and grow our revenues to Rs 1,000 crore by 2015," MTR Foods CEO Sanjay Sharma said.

The company, which has a presence in various segments like ready-to-eat, snacks, badam milk and vermicelli, among others, said it will focus on instant mixes, spices and snacks category.

MTR Foods had acquired Rasoi Magic Foods in April 2011 in line with its plans to expand into the meals segment and Sharma expects the brand to be Rs 100 crore in three years from the present Rs 20 crore.

The company on Friday expanded its breakfast mix portfolio and launched multi-grain dosa, oats idli, rava ragi and ragi dosa.

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