Bakery and dairy products maker Britannia Industries is aiming to double its turnover in the next four to five years and also planning to expand presence overseas in a big way as part of its growth strategy.
The company is looking to expand its business in the countries having similar business environment like that of India and is also open to inorganic growth if it gets a right opportunity.
“Our first step would be the countries, which have environment similar to ours. The strategy would be to seed in our products in these countries, establish a little bit of space and then start to think of a manufacturing facility there,” Britannia Industries Managing Director Varun Berry told reporters here.
In the meantime, if some good opportunities for acquisitions come up in some countries, then “we would look that as well”, he added. “Today we are not a food company. We are broadly a bakery company only which is also into dairy.
We truly want to be a food company as we go forward. It’s our vision to make Britannia not just an Indian food company but a global food company. We want our footprint across the globe and have made some move across that direction and a lot more would be coming in future,” Berry said.
The company, which had a revenue of Rs 7,947.90 crore in FY2015-16, is aiming to double it in next four to five years on back of continued growth in current business and new categories in which it is planning to enter.
“We would like to double the turnover in next four to five years… Bulk of the growth would come from the current categories and all the new categories would add to the growth as well,” he added.
The company is working on multiple categories. The company also has investment plans for this. “I cannot give numbers right now, because it’s not the fully honed up plans at this point of time, but there would be investment… There would be substantial investments which we would have to make to get into new categories…” Berry said.
As part of its growth strategy, Britannia Industries would have a mix of both in-house and contract manufacturings.
“It would be probably 60:40 for in-house and contract manufacturing,” he said. Britannia is currently present in 70 countries across the globe but its manufacturing activities are in India and Middle East only.
