Natural Ice Cream eyes UAE, SE Asia entry
"We are looking at investment of Rs 50 crore in retail and logistics by FY15 besides entering the UAE and Southeast Asian markets," Kamaths Ice Creams Director Srinivas R Kamath told PTI here. The project will be financed through promoters contribution and bank loans, he said.
The company had increased manufacturing capacity in Mumbai from 2 tonne a day to 12 tonne a day last year with a capital outlay of Rs 30 crore. "We are now looking at setting up a new manufacturing facility in the Central region to cater to the Northern markets. We are also looking at expanding our stores from 250 in the next four years from the present 99," he said.
The Rs 3,000-crore ice cream market is growing at 30 per cent per annum, Kamath said, adding this includes Rs 2,000 crore of unbranded and Rs 1,000 crore of branded players. Amul leads the ice cream segment followed by Quality.
The company, which clocked net profit of Rs 6 crore in FY11 on a turnover of Rs 40 crore, hopes to earn 50 per cent more in sales in the current fiscal to Rs 60 crore and net profit of Rs 10 crore.
The company has a strong franchise network in Mumbai, Ahmadabad, Pune, Hydrabad, Bangalore, Indore, Jaipur, Nagpur, Aurangabad, Nashik, Mangalore, Udipi, Manipal, Mysore, Belgaum and Goa.