Business Daily from THE HINDU group of publications
Thursday, Jun 05, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Jun 05, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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New Projects States - Kerala Eastern Condiments raises capacity; expanding to new areas V. Sajeev Kumar Adimali (Kerala), June 4 Eastern Condiments Pvt Ltd, a curry powder and masala maker in the country, has increased its capacity to 300 tonnes a day from the present 200 tonnes so as to emerge as the largest integrated spices and condiments processor. The capacity expansion is part of a series of efforts to consolidate market leadership of the company and expanding to new areas, Mr M.E.Meeran, Chairman, told a group of visiting journalists from Kochi. The current capacity expansion was undertaken with an investment of Rs 50 crore, he added. Other projectsThe company had also plans to set up chilli processing plant at Guntur in Andhra Pradesh, coriander plant at Rajasthan and an export unit at Kothamangalam. The projects in these areas are in various stages of planning and implementation, he said. Eastern Condiments has clocked a turnover of Rs 200 crore in the financial year 2007-08. Of this, 30 per cent of the revenue is generated from exports, Mr Meeran said. He pointed out that the total curry powder market in India is estimated at Rs 10,000 crore, of which, 20 per cent is the share of the organised segment. In Kerala, the market is estimated at Rs 300 crore and the company has got 70 per cent share in the market. Besides spices and condiments, Eastern Group also had business interests in rubber re-treading, mattresses, readymade garments and packaged drinking water. The group, with a turnover of Rs 260 crore, is aiming to achieve Rs 1,000 crore by 2010, Mr Navas Meeran, Managing Director said. More Stories on : New Projects | Foods & Food Processing | Kerala
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