Tirumala Milk Products has prepared a Rs 200-crore expansion plan.
This includes a Rs 100-crore processing facility at Melamuthur with a capacity to process 4 lakh litres a day. When it is ready, the total capacity of the dairy would go up to 19 lakh litres a day.
“We are also planning to set up an integrated dairy at Vinukonda in Guntur district with an investment of Rs 100 crore,” B. Brahma Naidu, Managing Director of Tirumala Milk, told Business Line.
The company, which registered a turnover of Rs 1,500 crore and a profit of Rs 110 crore in 2012-13, is targeting a turnover of Rs 2,000 crore this financial year.
On Monday, the company has announced revamped branding.
“We have found several counterfeit products in the market mimicking our logo that sported the picture of Lord Venkateshwara. So, we have decided to change the logo to check such attempts,” he said, after launching the new logo.
Besides, the company unveiled products with longer shelf life.
“We are going to hit the North Indian shelves by entering Delhi market in the next two months. Depending on the response, we will pan out to other States in the North,” he said.
The company, which raised Rs 100 crore from Carlyle Asia Growth Capital IV three years ago, has no plans to invite further private equity.
“We have been getting queries from Europe and other places, showing interest in investing in us. But we don’t have any plans to infuse more funds,” he said.