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Packaged food products company, MTR Foods has rejigged business to focus on local market demand through separate strategic business units.
The company, which closed last fiscal with a turnover of about ₹ 900 crore and growing at a CAGR of 14 per cent, expects its revenue to top ₹ 1,000 crore this fiscal. About 10 per cent of revenue comes from exports catering to Indian diaspora.
With the consumer taste and requirements varying even within States, the business is now being handled through various business units, one focusing on Karnataka, Tamil Nadu and other parts of South, second arm focusing on Andhra Pradesh and Telangana and the third one on rest of India.
New launches
Introducing two new products, Masala Karam, for everyday cooking and ready to cook Seviyan Upma, the company said the launch is based on extensive consumer research.
Sanjay Sharma, CEO, MTR Foods, said “Telangana and Andhra Pradesh together contribute the second highest to our sales from India. This year, we have put together a strategy to focus on the two states both in terms of launch of new products as well investments and strategic initiatives.”
With the aim of developing a Masala blend that is relevant to the local Telugu cuisine, the company has specially crafted MTR Masala Karam Powder for homemakers in Andhra Pradesh and Telangana.
Understanding that there is a high incidence of homemade usage for this multipurpose masala, consumer insights were gathered from hundreds of homemakers in the region that helped co-create an authentic recipe. It comprises a special blend of Guntur chillies, garlic, coriander among other spices.
The company plans to invest about ₹ 30 crore in new products, business expansion and marketing plans.
These product launches will be supported by a 360-degree marketing plan including new TVCs, in-store activation, outdoor and digital programmes, Sunay Bhasin, CMO, MTR Foods, said.
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