Orkla India, the parent of MTR Foods, is targeting a spot among the country’s fastest-growing multi-category food companies over the next five years, with the push anchored in premiumisation, health and wellness offerings, rapid quick-commerce expansion, and potential acquisitions, according to Managing Director and CEO Sanjay Sharma.
The Indian arm of Norwegian conglomerate Orkla ASA, which operates brands including MTR, Rasoi Magic and Eastern, is looking to further consolidate India’s fragmented spices market through additional acquisitions, while staying open to partnerships in the convenience foods segment, Sharma said.
The company is already among the country’s largest exporters of branded spices within the processed food space, with exports contributing roughly 21% of revenue. Sharma pointed to upcoming Free Trade Agreements with key markets as a source of encouragement, expecting them to improve market access and create a more stable operating environment over the next 6–12 months.
Sharma declined to share specific revenue or profitability projections but told a media agency the company remains confident of sustaining its historical double-digit growth trajectory, even as consumer preferences shift and newer retail channels gain ground.
“We want to be one of the leading, fastest-growing multi-category companies in India,” he said. “We have always and historically delivered a strong double-digit growth as far as the business is concerned. We are quite confident that we will continue to deliver that in the future as well.”