homebusiness Newscompanies NewsPatanjali Foods launches sports nutrition based products in premium segment
Patanjali Foods launches sports nutrition based products in premium segment
Patanjali Foods made an announcement regarding its latest entry into the premium segment category. The company aims to create a substantial platform by introducing its premium products.
Patanjali Foods has launched a new set of offerings in the premium segment category today. Patanjali Foods CEO Sanjeev Asthana in an interview with CNBC-TV18 said that the company is now aiming to establish a large platform with its premium products.
"We are very large in the value offering and we have several premium products as well. This is an effort to build up a large platform of premium product offerings that we have. Today we have launched sports nutrition-based products, we have got millet-based products in the biscuits category and we have got a dry fruit range which we are offering under the brand Nutrela. All of these products we have launched with an idea to develop a big strong Nutrela brand range for the company," Asthana said.
He highlighted that the company has big plans for the palm oil mission in the states of Andhra Pradesh, Telangana, Assam, Arunachal, Mizoram, Nagaland and Tripura. The company is also targeting capex of Rs 100 crore each year in the palm oil business.
Also Read:
"Palm oil mission that was organised and declared by the government of India under the national mission on edible oil is a very large project. We have signed agreements with 12 state governments - 5 in the North East and 7 in the rest of India. However, the big action states for us in palm oil missions are Andhra Pradesh, Telangana, Assam, Arunachal, Mizoram, Nagaland and Tripura. Right now each year we are targeting about Rs 100 crore of capex on the palm oil business," Asthana said.
Asthana added that the company aims to achieve revenues of over Rs 7,000 crore from the FMCG business by next year and grow by 15-20 percent year on year from thereon.
Watch video for more.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Prajwal Revanna Sexual Assault Case: Activist raises concerns over political interference, delayed investigation in the matter
Apr 30, 2024 10:17 PM
Lok Sabha Election 2024: Baramati election outcome will decide the future of Pawar dynasty, says expert
Apr 30, 2024 10:08 PM
Lok Sabha elections 2024: Baramati to Mainpuri, key battles in phase 3
Apr 30, 2024 7:01 PM