Anmol Bakers eyes Rs 2,400 crore turnover in 3 years

Regional biscuit player Anmol Bakers is looking to double its turnover to Rs 2,400 crore in three years as it expands its operations across the country and completes a restructuring exercise.

"We are looking at doubling our turnover to Rs 2,400 crore in three years. We are strong brand in East India and North India...This year we will launch operations in South and then move to West. We have also undertaken restructuring to improve our efficiency," Anmol Bakers Promoter and MD Gobind Ram Choudhary told PTI.

The company, which reported a turnover of Rs 1,200 crore in the previous fiscal, is expecting to close the current year at Rs 1,440 crore.

The company is also looking at raising funds from the public in two years time.

"We have undertaken restructuring and are preparing to come out with initial public offering. We have started working for that," he said.

Elaborating on the restructuring exercise, he said: "We have changed our logo, shifted focus on efficiency and appointed independent directors..We will also begin to work on the valuation."

In order to give tough competition to established players in the new market it enters, the company is also expanding its product portfolio of biscuits, cookies, cakes and rusks.

The company recently invested Rs 100 crore for new biscuit plant in Odisha to cater the to the Southern market.

"Apart from this plant, we plan to invest Rs 100 crore to set up a plant in Maharashtra to cater to demands of the customers in Western market," Choudhary said.

Anmol Bakers is a family held business that operates with a sales network of over 15 lakh retailers and more than 2,000 channel partners. It employs over 2,000 people.