Emami Agrotech, the ₹13,000-crore edible oils company of the Emami Group, is eyeing a ₹60-80 crore turnover from soya chunk offerings over the next 2-3 years.

The company, which launched soya chunks under the ‘Emami Healthy & Tasty’ brand in West Bengal, is also exploring an entry into other categories. National launch is expected over the next 12 months.

According to Sudhakar Desai, CEO, Emami Agrotech is looking at a 2-3 per cent market share over the next three months (Q1FY22) and a 10-15 per cent market share over the next 2-3 years.

The packaged soya chunks market is a ₹1,000-crore business in India and nearly 35 per cent of that comes from West Bengal with Fortune and Ruchi Soya (Nutrela) being the major players. This apart, the unorganised sector – loose and unbranded players – is said to be worth another ₹1,000 crore.

“With an increased consciousness about health gaining momentum, soya chunks were a business that we had planned to enter into since the pandemic. We carried out our R&D and additionally fortified the offerings with zinc without altering the actual taste. There are other products that we are working on, too,” he said during the launch.

Currently, soya chunks are being outsourced; but depending on traction, the company could explore capex options to have its own facilities.

Edible oils segment

According to Desai, the company’s edible oil business (under the Emami Healthy & Tasty range) was growing at 20 per cent, ahead of the industry growth rates that stood at 12 per cent. The Healthy & Tasty brand has a turnover of ₹1,500 crore (that includes the spices business).

Currently, the second largest producer of edible oils in the country, Emami Agrotech has two facilities – one each at Haldia and Krishnapatnam (Andhra Pradesh) – with a manufacturing capacity of 9,000 tonnes per day and is mulling another at “the western coast”.

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