Emami Agrotech plans to invest Rs 250 crore to set up an edible oil refinery in Gujarat.
"We have plans to come up with refinery in Gujarat. The location is not finalised yet and we would require around 35-40 acres. Around Rs 200-250 crore will be pumped in it," Emami Group Director Manish Goenka said in a statement.
The company is planning to expand its refining capacity for rice bran and sunflower oil with an investment of Rs 100 crore, he added.
"All our brands are performing well and we are expecting around 20-30 per cent growth in our edible oil brands. Looking at the success and consumer acceptance of the recently launched rice bran oil, we are planning to expand refining capacity for rice bran as well as sunflower oil with an investment of Rs 100 crore. The commissioning will be done in August," he said.
The company clocked revenue of Rs 4,500 crore last fiscal and Goenka said they would look to add Rs 1,000 crore to turnover in FY16.
"Our turnover was Rs 4,500 crore last year. This year we hope to end at around Rs 5,500 crore. We expect an increase in net profit from Rs 15 crore last year to Rs 50 crore this year," he added.
