Britannia plans to emerge as a complete foods company

However, the company will not be entering new segments in FY17

Biscuit major Britannia Industries is planning to foray into other food segments in the coming years and has undertaken a study to chalk out other growth avenues except dairy and bakery products for the company.

"Our aim is to be a complete foods company", Britannia, managing director, Varun Berry said here after the company's annual general meeting.

However, although the firm is interested to diversify its line of products, the company will not be entering new segments in 2016-17.

Berry, however, did not elaborate on the company's plans on this.

To increase capacity, Britannia has also earmarked Rs 300-450 crore for new plants. In the coming 2-3 years, the biscuit major will come up with a new plant in the export tax-free zone in Gujarat while another plant will come up in Andhra Pradesh and a third has been planned in the Northeast.

Plants in Northeast India enjoy tax holidays and other benefits.

Presently, the company has 14 factories and works on a strategy to outsource a third of its production while do the rest in-house, which gives it better control over quality.

With these plants the company's manufacturing capability will be increasing by 8-10 per cent from the present one million units.

Berry said his immediate priorities in the company include product innovation to retain market leadership and drive the next generation of leadership in the company.

"I have taken the onus on myself to identify the growth areas and prepare the next generation of leaders in the company", he said.