 "Wafers")
The Indore plant will carry an initial production capacity of 24 tonnes per day for wafers and will start producing other products like namkeen, aalu sev, ratlami sev and chataka pataka, after Diwali this year.
"We have started producing wafers at our Indore plant, our first such plant outside Gujarat. It has capacity of 1,500 kg an hour and will run 16 hours a day," said Keyur Virani, director, Balaji Wafers.
The company has two manufacturing units in Gujarat at Rajkot and Valsad with 38.4 tonnes per day and 24 tonnes per day, respectively.
Balaji is investing about Rs 400 crore in the Indore project, and has already spent around Rs 200 crore.
"It is a Rs 400-crore project and will be funded through internal sources and from banks. Investment will be done in a phased manner. We have invested an initial amount of Rs 200 crore to set up the plant and machinery and in the second phase, another Rs 200 crore will be spent for various other requirements," said Virani.
Setting up of a production unit in Madhya Pradesh is part of the company's plan to tap markets in the north Indian market, even as it looks to become a pan-India player. Balaji Wafers enjoys a 65 per cent market share in western Indian snacks market and has a presence in Gujarat, Maharashtra, Goa, Rajasthan and some parts of Madhya Pradesh.
"With this new plant, we will be able to cater to Madhya Pradesh, Rajasthan, Delhi and surrounding areas. The new plant will manufacture all the products of Balaji," Virani said.
The company's total turnover exceeded Rs 1,300 crore in 2015-16, and is expected to touch Rs 1,600 crore by the end of current financial year 2016-17.
