12 Feb, 2018
The most popular biscuits and confectionery maker in India, Parle Products aims to increase their turnover and cross Rs 20,000 crore in the next five years. The company also expects the staples and snacks segments to be its growth drivers in the coming years. As part of its growth strategy, the company is expanding its product portfolio and looks to become a total food company, by filling up gaps in its offering.
Parle Products Category Head, Mayank Shah said “We are looking to double our turnover 2023-24. Parle Products is a privately held company with a current turnover of Rs 10,000 crore. This growth would be mostly going through the organic way rather than acquisitions. Eventually, we are looking at several other categories and whenever and wherever there are opportunities, we would grow into a total food company.”
The company has got into snacks, bakery items like cakes and rusks and ventured into staples such as pulses. It is present in the premium chocolate segment. Parle Products is now tapping both – retail as well as institutional markets as hotels, which buys in bulks through its innovative offerings as Zeera Jeffs biscuit. Parle Products Category Head, B Krishna Rao said “in last couple of decades, we have made movements as a whole food company rather than as a company which has only couples of line.”
Parle Products has ventured into staples segment by launching pulses and plans to increase its offerings and distribution. Presently, in pulses, Parle is present in two states- Maharashtra and Karnataka in five segments – arhar daal, Chanal, masoor, urad and moong daal. “Pulses is a big opportunity and it’s a future for us,” he said adding gradually Parle would expand its presence to a pan India level. There is a trend to buy more packed item. Moreover, people have become more sensitive towards quality and issue of adulteration, which is the biggest problem,” adding that there is a trend of conversion of unorganized to the branded segment.