Britannia Industries Eye Expansion Into Myanmar

New Delhi, Aug 7 () Britannia expects around 10-12 per cent of its revenue to come from overseas markets in the next 3-5 years and plans to set up a plant in Nepal as part of global business expansion, says Britannia MD Varun Berry.

The FMCG major is also looking to build its presence further in the African market and Myanmar.

In the domestic market, the company is keen to expand its footprint in Hindi-speaking belts and venture into more segments to fill the gaps in its offerings.

“We would like our international market to grow at faster pace than the India business. Over next 3-5 years, our international business contribution is expected to be double digits at 10-12 per cent of our revenue,” Berry told .

He hoped that contribution from the international market in Britannia’s overall revenue would go up every year.

In 2016-17, Britannia Industries had clocked consolidated net sales of Rs 9,232.30 crore and around 7 per cent came in from overseas markets.

A reasonable chunk is accounted for by the Middle-East, where the company has two overseas manufacturing units in Dubai and Oman.

“We are looking to create a hub-and-spoke model to get into more and more markets like Myanmar and the African continent,” Berry said, adding that “we would have one new country every year”.

Britannia is lining up nearly Rs 55 crore to set up its first overseas greenfield facility in Nepal to cater to the local demand. The company already has a business in Nepal, based on exports from India.

“This would bring our prices down and (helping us) grow more aggressively once we have a manufacturing facility there,” he added.

It is venturing into snacking segment, along with Greek baker Chipita.

“That’s not the final stop. It is just one of the products which we are looking at. We are also evaluating other micro-snacking category. If something works for us, we would launch products,” he added.

Asked whether the company would cross Rs 10,000 revenue mark this year, Berry said: “I think so.” KRH ARD

 

Source: The Times of India

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