Annapoorna Masalas and Spices, a brand established in 1975, is targeting 5x growth in its top-line sales to Rs 200 crore within the next three years as part of its Annapoorna 2.0, a new growth road map for the brand.
Today the company clocks a turnover of about Rs 40 crore.
The firm's Executive Director and third generation entrepreneur, Vijay Prasad, is spearheading the makeover.
Annapoorna Masalas plans to expand its current product portfolio of 53 products and 101 stock-keeping units (SKUs) to over 80 products and 130 SKUs in the next three years.
It will take a differentiated approach to enable this growth, by not only covering the entire gamut of pure and blended spices, but also exploring dishes from different cultures and regions and bringing them to the consumer's table.
"For example Nellai puli kulambu is an authentic dish from Tirunelveli region. We have blended the spices in the right proportions to bring out the same flavour with our masala," explains Prasad.
The company’s 35,000 sq ft manufacturing plant located at Coimbatore has a capacity of 35 metric tonnes a day and is well equipped to support the brand’s ambitious growth plans.
Annapoorna is on its way to strengthening its current retail and distribution network to 500 distributors from ???? within the next one year. To begin with, the firm will make inroads across the Tamil Nadu market to cover more than 50,000 outlets in cities, towns and villages. This will be followed by geographical expansion to other neighbouring states in the region.