Ruchi Soya to expand product base

Ruchi Soya Industries, the flagship company of Ruchi Group of companies, is looking at expanding its food business by introducing newer products and variants.

At present, the company sells soya chunks, granules and flour under the Nutrela brand, and is looking at bringing in more options under the same brand.

Dinesh Shahra, MD, Ruchi Soya Industries said, "We are looking at introducing more foods under our Nutrela brand. These maybe soya products or may go beyond that."

While he was tightlipped on the exact product the company would launch, he said the company was considering products like ready-to-eat foods, snacks and beverages.

The company retails a variety of oil and soya foods under its premium brand, Nutrela. At present, Nutrela accounts for around 25 per cent of the company's turnover "" Rs 850-900 crore "" from branded products.

Foods are still a relatively small portion of the company's overall brand turnover with volumes coming in mainly through the oils.

Currently the market for soya foods in India is niche. Industry estimates peg it at about 1 lakh tonne per annum, and this has been growing at between 15-18 per cent annually. Out of this, branded players comprise about 18-20 per cent.

Nutrela is among the oldest brands in this category with newer entrant Godrej Foods introducing products like soya milk and cereals under its Sofit brand. The other brands in this space are mainly regional players.