MTR Foods to invest Rs 200 cr in 3-5 yrs to scale up mfg

MTR Foods today said it will invest about Rs 200 crore in the next three to five years to scale up its manufacturing infrastructure.
The company also announced the opening of its new e-commerce platform, which will give consumers access to its entire range of products.
"Another big thing that we are doing is around operations and manufacturing, which is really in preparation for the future. If we have to grow... We will need additional capacity, we will need additional investment," MTR Foods CEO Sanjay Sharma told reporters here.
"We have put together a plan internally, based on our growth plans, to invest close to about Rs 200 crore in the next three to five years.

"This will be on increasing our capacity from close to about 45,000 tonnes to about 72,000 tonnes with state-of-the- art equipment and high quality infrastructure," he said.
In 2007, Norwegian conglomerate Orkla took over MTR Foods, which has been serving authentic Indian food for about 90 years.

Stating that MTR's capacity was about 18-20,000 tonnes when Orkla took over, Sharma said since then "we have doubled it."
"We have invested close to about Rs 220 crore just in capital investment and improving the standards of the factory, and took the capacity to about 45,000 tonnes," he added.
The company has a facility at Bommasandra in the city.

MTR today has a size of about Rs 700 crore with a compounded annual growth rate of 18 per cent. It has over 140 products.
"We have very high expectations out of MTR, we expect touching close to Rs 2,000 crore as we go ahead into 2020," he said.
On its e-commerce initiative, Sharma said, "MTR was
working on an e-commerce store. Last week, we launched our e-commerce store. We have launched now only in Bengaluru and we will launch it in several other cities."
He said the inspiration for the e-commerce portal came from 'Namma MTR' (Our MTR) stores, launched in April 2004.

MTR products are also sold on e-commerce sites like BigBasket.
MTR today also announced the launch of its new brand identity with a new logo and packaging, stating that it personifies the transition to an innovative and relevant brand.
Karnataka is the largest segment for MTR, accounting for 45-46 per cent business, while the combined Andhra Pradesh and Telangana contributes about 18-20 per cent, followed by the rest of the country.
US is the biggest overseas market for MTR, accounting for 45-50 per cent exports. It also has strong business in Australia, New Zealand, Canada and Middle East.
Ready-to-eat forms the biggest segment of its export.

Announcing the company's next growth strategy, Sharma said it includes innovation, distribution, manufacturing and operations, among others.
MTR as a brand has introduced 44 innovations in its product line in the last three years, officials said.