homebusiness NewsBector's Food stock price doubled on listing, company says focus is on increasing branded product sales
Bector's Food stock price doubled on listing, company says focus is on increasing branded product sales
The stock of Mrs Bector’s Food more than doubled on listing, suggesting unsatiated demand after the initial public offering (IPO) was subscribed nearly 200 times. CNBC-TV18’s Mangalam Maloo caught up with Anoop Bector, Managing Director of the company and asked him how their revenue composition will change going forward.
The stock of Mrs Bector’s Food more than doubled on listing, suggesting unsatiated demand after the initial public offering (IPO) was subscribed nearly 200 times. CNBC-TV18’s Mangalam Maloo caught up with Anoop Bector, Managing Director of the company and asked him how their revenue composition will change going forward.
“Main focus happens to be on our branded sales for both Mrs Bector’s Cremica for the biscuits side and for the bakery on the English Oven side. We are expecting these two segments to be growing much ahead of other businesses,” he said in an interview with CNBC-TV18.
“If you look at both our B2B business on the bakery side and our contract manufacturing business with Mondelez shall also be growing because there are more stores being added on the B2B side and we shall be doing traditional business on the contract manufacturing side,” he said.
The company has 4.5 percent market share in north India. “We are looking at increased distribution and also increased branding into the north Indian market. We would like to say that our products are highly acceptable in the trade and going forward our growth numbers are going to be coming in very healthy and we shall be spending the right amount to create a brand for the north Indian market,” he said.
In terms of expansion, Bector said, “2023-2024 we are proposing to start our Thar facility which is next to Indore – for the biscuit side – and then thereon we shall be looking at covering west, south and eastern market.”
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(Edited by : Bivekananda Biswas)
First Published: Dec 24, 2020 4:40 PM IST
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