Emami Agrotech plans to invest over ₹1k cr to expand its foods segment
- ByStartupStory | October 9, 2021
Emami Agrotech, a part of the Emami Group, on Thursday said that it is planning to invest around Rs 1000-1500 crore in the next three years to be among the leading food companies.
The company, which deals in branded edible oils, spices and soya chunks, said that it aspires to become a food company and aims to reach Rs 25,000 crore turnover in the next three years.
Due to inflation in edible oil prices, the company expects earnings to increase to Rs 20,000 crore this fiscal by almost the same amount. The company said it has set a target of achieving a total income of Rs 25,000 crore in the next three years.
Aditya Agarwal, Director, Emami Group, said, “We are still essentially an edible oil company, but we are working towards transforming ourselves into a full-fledged food company.
The company said in the information given to the stock exchange that Emami has started its new plant in Kandla, Gujarat. This plant will produce edible oil. With the new plant, the company will prepare its roadmap. It will focus on achieving the goals of the food segment and business with edible oils. Kandla Refinery has a production capacity of 3200 tonnes per day. Agrotech will produce refined palm oil, refined soybean oil and value-added products such as vegetable and bakery fats from Kandla refinery. This is the company’s fourth production unit in India.The company has one production unit in Haldia, the other in Krishnapatnam and the third in Jaipur.
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