Britannia aims for top spot in biscuit market

Lines up Rs 200 cr capex for two years

Biscuits to dairy major Britannia Industries Ltd is aiming for the numero uno position in the biscuit market over the next three years, said company chairman Nusli  Wadia. The company has lined up capex investment worth Rs 150-200 crore for the next two years.

Replying to a query of a shareholder during the annual general meeting here, Wadia said that the company had gained 1.2% market share in the last one year in biscuits market.

"We have gained market share in the last year and want to be at the top position in the next three years. The gap between us and market leader is about 3%, " said Wadia.  Parle is at the numero uno position in the biscuit market.

The details of the capex plans are also being worked out which would focus on innovation and capacity addition.

According to Wadia the biscuit major would lay more focus on SAARC  countries. "We should have a greater presence in that region. Apart from Bangladesh, Sri Lanka would be key focus," he added.

Britannia 's margin have been under pressure as milk prices have been on a northwards journey in the last year.  Milk prices increased by about 30% in FY14, said Wadia.