Cremica Foods Ltd., the maker of condiments like ketchup and mayonnaise, is aiming to clock Rs. 450–470 crore in revenue this fiscal. In FY 22–23, the brand clocked Rs. 320 crores in revenue and Rs. 240 crores in FY 21–22.
Akshay Bector, Chairman and Managing Director, Cremica, said, “We are likely to grow more than 30 percent this fiscal year, and we are moving forward as per the growth, which is compounded both by the increased acquisition of new customers and by the volume growth driven by Cremica.
“Going ahead, in the next three years, we are eyeing a revenue of Rs. 600–700 crore. We are also eyeing an IPO in the next 2-3 years,” he further added.
Still, for the next two-to-three years, the brand plans to emphasize the retail sector for its existing categories—ketchup and mayonnaise—and has no plans to foray into any new category.”We have been catering to the food service industry for the past 15-20 years, and going ahead, we would like to focus on the retail segment equally. And for the same reason, we plan to launch some incremental products in the existing categories,” he stated.