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Delhi-based Basmati rice trading and marketing company Radikal Overseas Private Limited is focusing domestic market by strengthening its distribution network and has targeted a turnover of Rs 1,000 crore this financial year. Currently it has 80 distributors across India and will be doubling the number by end of next year.
Commenting on this, Uday Y Nayak, senior general manager, sales and marketing of Radikal Overseas said, "We are eyeing a turnover of Rs 1,000 crore by 2014. The company’s revenue has gone up from Rs 350 crore in 2011-12 to an estimated Rs 550 crore by the end of the current financial year. Keeping in view the overall market in mind, we have stepped up our capacity at rice milling plant in Garh Mukhteshwar, UP, from an annual production capacity of 2 lakh metric tons to 4.80 lakh metric tons. The entire plant is completely geared from procurement to storage, machinery to equipment, milling to final packaging."
He added, "We are already among the top five companies in the category. Our products are retailed at retail outlets and other leading retail chains. We are among the leading food manufacturers in the domestic Indian market and have successfully taken the Radikal experience to many more countries, including Europe, North America and Africa."
About 75 per cent of its revenues came from exports, with majority of the supplies went to the Gulf region and in UAE market alone, it is planning to export around 8,000 tonnes of Basmati rice to the emirates booming food market this year.
From the last four years, Radikal is exporting rice to 35 countries and aims to increase that number to 65 by end of 2013. In future, it is also considering to enter other food segments like ready to eat.
The five variants of Radikal Rice Aqua Mist Premium Basmati, Pristine Traditional Basmati, Apica Premium, Morvarid Premium Sella Basmati and Arctic Pink Basmati - are priced between Rs 99 and Rs 170 per kg.
As part of promotion, the company announced a promotional campaign, Rice to Riches. It tied up with 500 residential welfare associations (RWAs) in eight cities like Delhi, Mumbai, Bangalore, Chennai, Kolkata and Hyderabad.
