Kolkata, Feb 4 (PTI) Ruchi Soya Industries today said it aims to expand the Nutrela brand five-fold to Rs 5,000 crore in the next five years.
Stating that Nutrela was a small brand compared to the Ruchi brand which accounted for sale of Rs 7,000-8,000 crore, Ruchi Soya AVP Marketing Sandipan Ghosh said the company wanted to make Nutrela a Rs 5,000 crore brand in the next five years from Rs 1,000-1,200 crore now.
On reports of raids by the Mumbai income tax authorities on the group, the company did not forsee any hurdle towards its growth target. “No,” Ghosh said when asked whether the raids would have any adverse impact on growth. Ghosh said the existing business of Nutrela would grow by around 20 per cent year on year and the company planned to introduce more products.
“Currently, we are carrying out market research to enter new product categories under Nutrela brand,” he said. The brand was currently restricted to soya products, edible oil and margarine.
In 2008, the company had made an attempt to foray into beverage from soya but failed to get the desired response. Ghosh said Nutrela offered high EBITA margin of 10-15 per cent for the company among other products.
Ruchi Group of Industries Update 