Ravi Foods Pvt Ltd, the company behind the Dukes brand biscuits, wafers and confectionery, has decided to set up a new manufacturing facility at Kothur, near Hyderabad, investing ₹250 crore.
The project would increase the manufacturing capacity from existing 15,000 tonnes a month to 25,000 tonnes. Managing director Ravinder Agarwal said the company has 100 acres in Kothur and initially 40 acres are to be used for the project, to be implemented over four years.
“In the next two years, we plan to invest ₹100 crore (additional) ₹150 crore (investment) is to be made after two years,” he said on Monday.
For Ravi Foods, the facility is expected to fetch multiple benefits, from consolidating operations, enhancing capacity, as well as access to incentives the Telangana government offered for such mega investments. At present, the company has manufacturing facilities at several locations in and around Hyderabad, including Kattedan, Kothur and Medchal.
The company is targeting to double its turnover, from ₹1,500 crore posted in the last fiscal, add cakes and rusks to the product range, besides making available the products at 10 lakh outlets, as against 5 lakh, in the next few years. Figuring in the growth plan is to take the share of exports from ₹400 crore to ₹800 crore.
A contract manufacturer for other brands too, the company also has production facilities in other parts of the country. “We are present in all regions, with about 10 manufacturing (locations),” he said, adding that Guwahati and Jalna (in Maharashtra) plants are to be expanded with an investment of ₹50 crore and ₹30 crore respectively.
The Hyderabad-based firm was recently named among the World’s 100 greatest brands 2017-18 Asia and GCC award organised by AsiaOne Magazine. PwC was the process reviewer for the awards.