Sanwaria Agro eyes 60% revenue from branded segment in 3 yrs

Sanwaria Agro Oils is targeting 60 per cent revenue from its branded segment in three years and is planning to launch rice bran oil in six months, a top company executive has said.
"We want to expand our retail segment and strengthen our brands. We are targeting to increase the revenue from branded segment to about to 60:40 in 2-3 years," Sanwaria Agro Oils' whole-time Director Anil Agrawal told PTI here.
At present, the Madhya Pradesh-based edible oil maker gets 15 per cent revenue from the branded segment and 85 per cent from bulk business.
Sanwaria Agro Oils is planning a capex of up to Rs 300 crore for the next two years subject to the approval of shareholders, he said.

"We are planning a capex of Rs 200-300 crore for the next two years. The board of the company has already approved it. We are now waiting for shareholders' approval in our annual general meeting to be held soon," he added.
The company is planning to introduce rice bran oil in next six months, Agrawal said.

"We have our own rice mills for processing basmati rice and can easily produce rice bran oil from our units. So, we decided to explore this and worked adding rice bran to our product portfolio. All the necessary things in this regard are in place and we will be introducing the new product in another six months time," he added.

The company currently has 200 tonnes per day capacity rice mill at Itarsi near Bhopal in Madhya Pradesh and is setting up another 400 tonnes per day capacity unit near it, which will be operational by December, he said.
"We export the premium basmati rice to the Middle East, South East Asia, Europe and Iran. The demand for our basmati rice is growing. So, to keep up with the demand, we decided to add another rice processing unit," he said adding that the company is also expanding the capacity of its wheat flour mill to 200 tonne per day from the current 100 per day.

The company, he said, is also getting enquiries from other export markets for its basmati rice and will begin shipments to the US and Africa from this year.