Financial Daily from THE HINDU group of publications
Wednesday, May 11, 2005
Financial Daily from THE HINDU group of publications Wednesday, May 11, 2005 |
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Corporate
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Announcements Amrit Foods to double production capacity of flavoured milk Our Bureau
New Delhi , May 10 AMRIT Foods, division of the Rs 600-crore Amrit Group, is planning to double its production capacity of flavoured milk in the wake of sales of its brand Gagan Flavoured Milk growing by over 100 per cent in 2004-2005, a company release said. At an investment of close to Rs 3 crore, flavoured milk production will be increased to five lakh litres per month from the current two lakh litres. According to Mr A.K. Tyagi, CEO, last year flavoured milk contributed 35 per cent towards Amrit Foods division's annual turnover of 25 crore. "This year we expect flavoured milk to contribute over 45 per cent, with a 50 per cent growth in sales," he said. He added that the overall market for flavoured milk grew 27 per cent in value terms in 2004 and is expected to experience robust growth this year as well. The company, which as of now sells flavoured milk only in the northern States, plans to spread its distribution to other parts of the country as well. It also plans to launch new flavours this summer, beginning with chocolate flavour. Right now Gagan milk flavours include pineapple, strawberry, butterscotch, coffee, kesar badam and elaichi.
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