Maharashtra-based Parag Milk Foods, which owns Gowardhan brand of dairy products, expects to rake in revenues to the tune of Rs 100 crore from Gujarat with the launch of "Go Cheese" in the state.
The company today launched "Go Cheese"-a wide range of cheese made from 100 per cent cow milk- in Gujarat. "Gujarat and Maharashtra account for nearly 75 per cent of the total cheese consumption in the country. We have already sold 40 tonnes of cheese in the state of Gujarat and we expect to earn Rs 100 crore revenues in one year," Devendra Shah, chairman, Parag Milk Foods, said today on the launch of "Go Cheese" in Ahmedabad.
The size of the domestic cheese market is around Rs 2,000 crore. Amul sells 700-800 tonnes of cheese per annum, while Britania and Parag Milk 300 tonnes each. "The cheese market is growing at the rate of 15 per cent and we hope to generate Rs 200 crore revenues from our cheese business in next one year," he added.
Parag Dairy, which clocked a turnover of Rs 320 crore in 2008-09, aims to achieve a topline of Rs 550 crore in the current financial year. In fact, the company has chalked out Rs 160 crore expansion plan to meet the growing demand of dairy products in the country.
Apart from stengthing its cold chain and distribution network, the company will pump in Rs 65 crore for its greenfield processing plant at Palamner near Bangalore. It is also considering to set up a new unit at Shirapur in Maharashtra. Parag Milk Foods currently operates 10 lakh litres per day processing plant near Pune.
The company's product portfolio includes liquid milk and various dairy products such as milk powder, cheese, ghee, butter, cream, curd and buttermilk. All these products are made from cow milk.
