New Delhi: Homegrown FMCG firm Apis India plans to expand its product portfolio in the food segment and aims a topline of Rs 500 crore by the end of next fiscal, its Managing Director Amit Anand said on Tuesday. Besides, Apis India has plans to open a new plant to cater to the growing demand and is investing in branding and marketing to make its products more visible in the market.
The listed company, which is present in the food segment with honey, dates, green tea and breakfast products, among others, is looking to expand its product portfolio and distribution footprints across the country.
The Delhi-based company had reported a revenue of Rs 333.66 crore for the financial year that ended on March 31, 2023. The company gets nearly equal contributions from the B2B and B2C businesses.
“There would be a substantial growth this year. We expect our B2C business and exports will grow. Besides, there is a unit in Dubai, UAE which is also rising very fast. We are looking to achieve Rs 500 crore by the end of FY 2024-25,” Anand told PTI.
Initially, the company was in the honey business and entered into the FMCG segment seven years ago.
In the FMCG industry, which is considered to be very intense with competitive pricing, Anand is betting on affordable options.
“We are giving a quality product at a reasonable price. We are targeting the middle-class segment and now with the organic range we are going for a niche one,” he said.
According to him, post-pandemic, people have become health conscious and are looking for healthy options.
“We are in the right segments. Dates are very good for the health. Honey is very good for the health,” he said.
Now, the company is planning to expand its organic range and develop new products around this, which he expects will take the company to the “next level”.
Besides, Apis India has plans to expand its distribution network.
“We are targeting to add 25 per cent more distributors,” he said.
The company has a plant at Roorkee, Uttarakhand and is considering opening one more.
“We are looking forward to doing further expansion in our manufacturing facilities by opening up a new avenue,” Anand said.
In line with the product portfolio expansion, Apis India has launched its range of organic honey.