GUWAHATI:
Guwahati-based FMCG (Fast-Moving Consumer Goods) major Annapurna Group, a market leader in the North East, on October 21 revealed that it is planning to be a Rs 1,000 crore public company by 2025 with an investment of Rs 300 crore in four new projects and starting operation from NCR (National Capital Region), Madhya Pradesh, Chhattisgarh, Karnataka and Andhra Pradesh.
The company, which has a significant presence in the North East and West Bengal, is planning to tap the national market in a phased manner, apart from consolidating its presence and market share in the states where it is present.
“By 2025, we plan to ensure our presence in all geographical locations of India and we would be also looking for export options. A new category of products are also in the offing catering to emerging consumer tastes and preferences,” Annapurna Group managing director Subir Ghosh said while launching a new product Diptips (tomato sauces).
“We plan to introduce a new line of Ayurveda-based products and commission a new plant soon for catering to this segment exclusively. With the company currently valued at Rs 1,000 crore, we plan to raise funds through private equity to the tune of Rs 300 crore by end of 2023 and finally go for an IPO in 2025,” Ghosh informed.
Currently, Annapurna Group has three plants, all of which are presently in Guwahati and one plant in Meerut. Plans are in place for coming up with four more plants by 2025, to be set up in Assam, West Bengal, and North and South India where they produce beverages, ayurvedic products, cereals and food grains.
The company is quite bullish about its flagship product, Annapurna Ghee which remains firmly the market leader in the North East and is fast gaining sizeable market shares in West Bengal.
“We have more than 900 full-time employees working in Guwahati (headquarters), Siliguri and Kolkata, and is a key player in five thriving categories of food products, namely, dairy, health drinks, fruit drinks, juices and agro-based products, providing a mix of traditional and modern offerings for a cross-section of consumers,” Ghosh said.
In the dairy category, Annapurna is already a market leader and noteworthy among its products is Annapurna Ghee. Fundaaz fruit drink also has a major presence and its Lemon variant is the market leader in its category in the Northeast ahead of established mega brands. The other brands from the company’s stable include Sprint (packaged drinking water and club soda). Diptips (sauces, spreads & condiments), Wondergravi (a ready-to-cook range where two tasty dishes can be prepared in just 10 minutes), Pickle Story (pickles), URBAN.ORNG (naturally squeezed orange drink), URBAN. HARVST (cereals, pulses and spices) and Cafe Dairy (lassi, buttermilk, flavoured milks and milk Shakes).
“We have concentrated big time on research and development in the recent past and will be investing Rs 300 crore by 2025 for our expansion in terms of foraying in new markets, new product development and marketing initiatives. Of this, the investment amount earmarked for the North East market is to the tune of Rs 100 crore,” Ghosh said.
“After consolidating our presence in the North East, we are looking to enhance our footprints and market share in West Bengal, Bihar, Jharkhand and Odisha, where we have a selective presence as well as get a foothold in other metros to begin with. We will shortly be introducing here several products from our range of juices, sauces and dips, all with the great taste and trademark assurance of purity that Annapurna stands for,” he said.
Currently, it is available to customers across India through e-commerce sites.
The company is also in the process of re-launching a wide range of sauces and condiments, which will be backed with a simple but striking advertising and social media campaign to dial up the new food habits and tastes. Currently, the products are available across 12 states in the Eastern region of India.