Chennai-based TTK Healthcare Ltd, a part of TTK group, expects a revenue of Rs 25 crore from next fiscal from its food business, as the ongoing expansion of production lines is expected to go on stream in the third quarter of current year. The company posted a sales revenue of Rs 9.85 crore from food business during 2010-11.
Speaking to Business Standard after the company's AGM, T T Jagannathan, chairman, TTK group, said, "We have invested around Rs 18 crore to add two lines to our food production lines, existing since 1983. We expect a revenue of Rs 12.5 crore in the current fiscal and Rs 25 crore in next fiscal."
The company has erected the pellet (pappad) manufacturing line imported from Italy-based Fen, in Hoskote, near Bangalore in November, 2010. The production is expected to stabilise from the second quarter of this year. "The Fen make pellet (pappad) manufacturing line acquired from McFills Enterprises, Ahmedabad, is also almost complete and would be commissioned by the food technologists from Fen during the second quarter of the current year," he added.
The company would also explore branding and retailing opportunities in the segment, he said addressing shareholders.
According to the annual report, the company posted a growth of 10.32 per cent in food products sales at Rs 9.85 crore during 2010-11, as compared to Rs 8.93 crore sales reported during the previous fiscal.
It is looking at opportunities for acquisitions in orthopeadic implants business and fast moving consumer goods (FMCG), he said, without divulging more details.
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At present, the company plans to invest around Rs 10 crore in existing businesses. However, it may consider investing more if need arises for other operations including acquisitions, according to Jagannathan.
On the medical devices segment, the company plans to add new products including tissue valves and fixed bearing knees. It is expecting regulatory process to complete to import some of these products from Brazil.