Kolkata-based biscuit manufacturer SAJ Food Products, renowned for its flagship brand Bisk Farm, is ambitiously targeting revenues of Rs 5,000 crore by the fiscal year 2029. The company’s Managing Director, Vijay Singh, revealed that this expansion plan could coincide with the decision to take the company public. Currently, SAJ Food Products derives nearly 80% of its sales from the Eastern market, and it is actively broadening its operational scope.
In pursuit of this goal, SAJ Food is in the process of constructing a substantial Rs 100 crore plant in Guwahati. This facility is projected to possess a monthly production capacity of 10,000 tonnes, thereby augmenting the company’s installed capacity to an impressive 3 lakh tonnes per annum. Vijay Singh elaborated on these developments during an interaction with PTI on Tuesday.
For the fiscal year 2023, SAJ Food closed with a commendable top line of Rs. 2,100 crores, generating a net income of Rs. 200 crores from its operations. Singh remarked, “We have been growing at a compounded 15% rate since 2020 when we had Rs. 1,200 crores revenue. This makes us the fastest-growing brand in the category. We grew 20% in FY23 to clock a top line of Rs. 2,100 crores and earn a net income of Rs. 200 crores.”
Despite the current stagnancy in rural demand due to wage-related distress in hinterland markets, Singh expressed optimism regarding the company’s geographical expansion beyond its primary market of Eastern states, which currently contributes around 80% of its sales. In light of this, the company has set a target of achieving a revenue milestone of Rs 5,000 crore by the fiscal year 2029, coinciding with potential plans to go public.
Founded in 2000 by Bengali entrepreneur Krishnadas Paul, SAJ Food continues to thrive under the leadership of his son, Arpan Paul, who serves as the Executive Chairman, and son-in-law, Vijay Singh, who acts as the Managing Director. Apart from its core biscuit offerings, the company also boasts a diverse portfolio, including snacks, cakes, cookies, and rusk.
Presently, SAJ Food operates six plants across various locations, with an annual capacity of 1.80 lakh tonnes. The company’s latest endeavour involves the construction of its seventh plant in Guwahati, with an investment of Rs. 100 crores to achieve an annual output of 1.2 lakh tons. The company’s focus remains on the domestic market, even though it engages in exports to the Middle East, Africa, and Southeast Asia, generating Rs 50 crore from exports during the fiscal year 2023.