Coimbatore-headquartered Suguna Foods is eyeing to become a Rs 10,000 crore company by 2017, on the back of huge expansion in all its verticals, including feed mill, retail and ready-to-cook business, a top company executive said today.
"We have been extremely successful in South India, we plan to move to other geographies and newer regions and consolidate our presence in newer market places. Currently, we have an annual revenue of over Rs 4,800 crore.
"We have embarked upon huge expansion in all our verticals and are hoping to become Rs 10,000 crore company by 2017," Suguna Foods Managing Director Sundararajan GB told reporters here.
He said the company was planning to to invest Rs 150 crore annually through internal accruals to fund its expansions.
The leading poultry enterprise, which is already into refined soybean oil under the Mother's Delight brand, is planning a foray into other value-added products.
"After seeing a huge potential, we have decided to launch value-added products in soybean like soya chunks, soya milk among others. We are expecting to launch soya value added products in six months," Sundararajan said.
He said the company was also planning to launch spices under the Mother's Delight brand in next few months.
"The company is planning to expand its retail outlets (Suguna Daily Fresh), which offers fresh and ready to cook products (home bites), to 500 in three years from the current 150 in Tamil Nadu, Kerala and Bangalore," Sundararajan said.
The company is also setting up a ready-to-eat processing plant in the northern region in 18-24 months.
"We are planning to set up a processing unit in the North in 18-24 months. We are yet to decide on the location for setting up this processing plant in the northern region. This plant will have the facility of slaughtering and processing chicken into ready to cook products," he added.
The company also is also planning to set up 2,000 quick service restaurants under the brand 'Suguna Crisp and Crunchy' in another five years under the franchise model.
"We have one 'Suguna Crisp and Crunchy' in Bangalore and are planning to have 10 by March this year. We are targeting for 2,000 quick service restaurants under the franchise model in five years across the country," Sundararajan said.
Recently, Suguna Foods has commissioned a five lakh tonne capacity Upgraded Pellet Technology Feed Mill plant in Maharashtra valued at Rs 100 crore, which was funded by IDBI Bank.
"The capacity of the plant, located in Khadakjamb near Nasik, is expandable to 7.5 lakh tonne, will supply high quality feeds for broiler, layers, and parent bird farms and other livestock in the region," he added.
