Hyderabad: City-based Ravi Foods, which makes biscuits, wafers and confectionary under the brand Dukes, will invest about Rs 250 crore in phases for a mega food unit at Kothur on the city outskirts. Of this, about Rs 100 crore will be invested in the short term in about two years and the remaining will be done in the next two years, said it’s Managing Director Ravinder Agarwal.
The company is also contract manufacturer for the likes of Britannia, Parle and ITC among others. It also makes wafers under the brand Waffy, which commands about 80 per cent market share in the organised trade.
Revealing the plans, Agarwal said the company has about 100 acre near Kothur and new facilities will come up here. In the first phase, it will use about 40 per cent space, he said. Its current units are at Kattedan Industrial Area. The government has been asking the units in this area to relocate to outside of the city citing pollution concerns. The new unit is part of preparation of this, he said.
Currently, it has ten manufacturing units with a capacity to make 15,000 tonne per month. This will be increased to 25,000 tonne per month, the official said adding that it allots about 50 per cent of the manufacturing capacity to contract manufacturing and the remaining for itself.
The company is clocking about Rs 1,500 crore and it is looking to double the turnover to about Rs 3,000 crore in two years on the back of higher sales.
The demand for the confectionary is rising. It is also planning to launch rusks and cakes shortly. Out of the Rs 1,500 crore turnover, about Rs 600 crore comes from Dukes brand, Rs 400 crore from exports and remaining from contract manufacturing and other segments.
While it exports to about 50 countries, it sees US as the key market. Its manufacturing facilities are approved by the US health regulator USFDA.
Dukes has been recognised with the World’s 100 Greatest Brands 2017-18 Asia and GCC Award at the India-UAE Business and Social Forum 2018 held recently at Dubai.