Breakfast cereal maker Bagrry's is eyeing Rs 400 crore turnover in five years as it plans to expand into a multi-product and multi brand company.
"We are looking at Rs 400 crore turnover in five years. We are focusing to become a multi-brand, multi product company in the food space, with health and wellness at the core of the products we offer," Bagrry's India Director Aditya Bagri told PTI.
"Going forward, we will launch more brands and enter new product categories. At present we have two brands -- Bagrry's and Lawrence Mills," he said.
The company expects to clock Rs 100 crore turnover in the current fiscal year.
Elaborating on the plans, he said: "The company is looking at adding more products under Lawrence Mills brand. We are also aiming at doubling at distribution network to 1 lakh outlets in two years as against 50,000 at present across the country."
On whether the privately held company is looking at raising funds through an initial public offer (IPO), Bagri said: "We are looking at sustainable growth... We are exploring different capital structures. But there is no primary need for capital in the near future. We will only need it to grow faster. These things like listing (on stock exchanges) will be on cards as we scale up."
Bagrry's India, which currently, exports its products to countries such as US, Canada, Nepal and Bhutan, is also talks to enter more overseas market.
"We are in talks to explore opportunities in other countries. However, our focus will also always be on domestic market," Bagri added.