Financial Daily from THE HINDU group of publications
Sunday, Nov 13, 2005
Financial Daily from THE HINDU group of publications Sunday, Nov 13, 2005 |
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Corporate
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Diversification Marketing - Strategy Haldiram to diversify into biscuits, pastas and noodles Our Bureau
Chennai , Nov. 12 HALDIRAM Marketing Pvt Ltd, manufacturers of Haldiram's brand of Indian snack foods, is to diversify into production of biscuits, pastas and noodles. According to Mr Manohar Agarwal, Managing Director, the company plans to invest over Rs 50 crore in a new plant to produce instant noodles and pastas. The company is in talks with Italian players to acquire the technology. The unit, planned in Uttaranchal, would commence production by March 2007 to take advantage of tax benefits, which was the reason the plant was coming up there, he said. It had bought over 10 acres of land and discussions with Italian companies were at an advanced stage. The new product range will also be under the Haldiram's brand. The Rs 1,000-crore family-managed company has over six manufacturing units each churning out over 60-70 tonnes of `namkeens,' `bujjias' and other savouries every day. It also produces over 70-75 varieties of sweets, but except for a few canned varieties, these are mostly sold over the counter at their exclusive outlets in Delhi, Bikaner, Nagpur and Kolkata. Mr Agarwal was talking to reporters on the sidelines of FoodPro 2005, the biennial event on food processing organised by the Confederation of Indian Industry. His brothers - and in Kolkata, his cousins - look after the enterprises that have a cumulative turnover of more than Rs 1,000 crore. The family also operates over 15 restaurants in Delhi, Nagpur and West Bengal. Mr Agarwal prefers to keep it all within the family. No expansion was planned in the South or going for the franchisee route. That was just not on the cards, he said.Exports account for about Rs 60-70 crore, and this has been a natural growth that has happened over the last four or five years that the company has been in exports. No hard selling, he said. Though it had concentrated on traditional snacks the decision to diversify into the new product range was driven by market trends, he said.
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