Comments
Eastern Condiments, a leading player in the spices and food segment, has recorded a steep growth in the last 11 quarters, with revenues up by 28 per cent.
The company posted ₹218 crore net profit for the quarter ended December 31, largely driven by growth in markets outside Kerala. Exports grew 47.2 per cent.
According to Firoz Meeran, Managing Director, the strategy is to move closer to the market by setting up plants and introducing products in the flavours that the regional markets needed.
Eastern Condiments, which has a range of more than 200 products, has been awarded the largest exporter of spices by the Spices Board of India for the last 15 years consecutively.
The company, which commands more than 70 per cent of Kerala’s market share, is fast expanding and is setting up its 10th plant in Lucknow at an investment of ₹ 20 crore. The facility is expected to go on stream within two years. The 9th plant at Dharwad in Karnataka would be operational sometime next year, Navas Meeran, Chairman, said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.