Ruchi Soya plans to step into ready-to-cook segment

Total (organised and unorganised) ready-to-cook and eat market in country stood at $13 billion in 2013

FMCG major Ruchi Soya, which has soya food brand Nutrela and edible oil brand Ruchi under its portfolio, is planning to foray into the ready-to-cook segment soon.

"Going forward, the company is planning to focus on branded products. We will soon enter into the ready-to-cook segment soon, especially in the breakfast category, that may be an integration of soya food," a company source said here without giving any further details.

According to industry data, the total (organised and unorganised) ready-to-cook and eat market in the country stood at $13 billion in 2013.

Ruchi Soya, with a turnover of Rs 26,000 crore, is into cooking oil, palm plantation and also has products under soya foods, bakery fats and vanaspati products.

The company has five port based refineries, three standalone crushing plants, eight integrated crushing and refining plants, one refinery and vanaspati plant and two palm fruit processing units.

Talking about the company's future plans, Ruchi Soya Industries founder and Managing Director Dinesh Shahra said, "The company is planning to stress more on branded products, which will give us better margins. We are also planning to rebrand our existing products and venture into newer markets in the country."

The company has a very strong presence in the southern and western regions of the country, said Shahra, while speaking on the sidelines of 'Globe Oil 2013' here.

"Going ahead, we will build a strong brand presence in the northern and eastern region of the country," he added.

Talking about the overall growth of the company in this fiscal, Shahra said, "We are bullish on the crushing season. With good onset of monsoon and improved production of oilseeds in the country, we are hoping for better utilisation of crushing capabilities, which will lead to better results."

"Indian rupee's depreciation is bringing slowdown in the businesses, therefore, we are looking at competitive opportunities of growth in export driven products," he added.