Pune-based Weikfield Foods is aiming to double its revenue in next three years abetted by 4-5 new product launches every year. The company is particularly centering on younger consumer preferences and e-commerce sales.
The 65-year old privately held company was till recently an extremely conservative player in the Indian FMCG space though last fiscal it grew by over 20% to clock Rs 300 crore gross sales. According to chief executive officer D.S. Sachdeva the zero debt company, has a strong loyal base for consumers and till recently didn’t even advertise. We are on the path to grow the business, have started advertising and want to double the business in three years through both organic and inorganic routes.
Weikfield is a frontrunner in categories like baking powder, custard powder and corn flour, Sachdeva and has lately ventured into the ready to eat segment with custard and plans to expand its range of western desserts, pasta and sauces, cake mixes and other allied areas.
The company does not want to enter the ‘centre of the plate’ categories and would rather remain ‘side of the plate’ and in adjacent categories. “We would rather be a snack or a dessert brand,” brand,” he said.
“We have seen several start-ups are successful and go to a higher growth path using e-commerce. Our e-commerce business has doubled every quarter for last 6-8 quarters, has reached high single digit contribution already and can be in high teens in next 12 months,” he said.